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Analysis of the impact of institutional environment on the policy of oil companies in the sphere of subsoil use

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  • Тоkarev А.N.

Abstract

Oil and gas sector is key sector for the Russian economy. General socio-economic benefts from the development of oil and gas resources are largely dependent on the policies implemented by oil companies. Therefore, the most important task of the state is to create conditions that would ensure socially-oriented behavior of the oil companies. The main purpose of research is to develop recommendations for the establishment of these conditions with regard to oil production.The paper analyzes the current situation with the development of oil resources in Russia, the behavior of the oil companies in the sphere of subsoil use. The methodical approach to analyzing the behavior of companies with respect to the issues of development of oil felds in various conditions (rigidity of the state policy in the sphere of subsoil use) is provided. It has been shown that it is necessary a balanced combination of restrictive measures and mechanisms for fnancial and economic incentives. The fndings may be used in the formation of the institutional environment in the sphere of subsoil use.

Suggested Citation

  • Тоkarev А.N., 2016. "Analysis of the impact of institutional environment on the policy of oil companies in the sphere of subsoil use," World of economics and management / Vestnik NSU. Series: Social and Economics Sciences, Socionet, vol. 16(2), pages 132-144.
    • Handle: RePEc:nos:wjflnh:2016_2_12e
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    References listed on IDEAS

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    3. Nilssen, Tore & Nystad, Arild N., 1986. "Optimum exploration and extraction in a petroleum basin : The case of simultaneous field developments," Resources and Energy, Elsevier, vol. 8(3), pages 219-230, September.
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    JEL classification:

    • Q35 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Hydrocarbon Resources
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis

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