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Factors affecting sustainable development of the oil and gas industry

Author

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  • Murad Gasimli

    (Doctoral student at Azerbaijan University of Architecture and Construction)

Abstract

The article analyzes the factors influencing the sustainable development of the oil and gas industry, with an assessment of their impact. It discusses the role of the oil and gas industry in Azerbaijan's economy, and the development of oil and gas production determines the strategic efficiency and sustainability of this process. It has been identified that the factors influencing the sustainable development of the oil and gas industry are mainly shaped by the internal and external factors of the enterprise. These factors play an important role in the development of the oil industry, determining the conditions for the development of construction and other sectors. The article conducting a correlation-regression analysis of the dependence between the volume of oil and natural gas production in Azerbaijan and the volume of oil production, chemical and petrochemical industry products, identifying factors affecting the economic sustainability of this sector.

Suggested Citation

  • Murad Gasimli, 2023. "Factors affecting sustainable development of the oil and gas industry," The Scientific-Analytical Journal "Economic Reforms", Center for Analysis of Economic Reforms and Communication of the Republic of Azerbaijan, vol. 2023(4), pages 89-102, January.
    • Handle: RePEc:azr:reform:v:2023:y:2023:i:4:p:89-102
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    More about this item

    Keywords

    : sustainable development; oil and gas; industry; competitive ability; economy; construction.;
    All these keywords.

    JEL classification:

    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q49 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Other

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