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Russia’s Oil and Gas Sector in 2009


  • Yuri Bobylev

    (Gaidar Institute for Economic Policy)


Oil and gas sector remains the backbone of the Russian economy and produces the lion’s share of the state budget revenues and of the trade balance. Acute oil price fluctuations which took place on the free market, reduction in demand for gas, as well as objective fall in the oil and gas extraction in Russia, cuts in their production on the old existing oil deposits and significantly larger costs required for the development of the new deposits especially in the undeveloped regions which lack any type of infrastructure had main impact on its development in 2009.

Suggested Citation

  • Yuri Bobylev, 2010. "Russia’s Oil and Gas Sector in 2009," Published Papers 106, Gaidar Institute for Economic Policy, revised 2012.
  • Handle: RePEc:gai:ppaper:106

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    File Function: Revised version, 2012
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    More about this item


    Russian economy; Russia's oil and gas sector; oil production; oil export; oil prices;

    JEL classification:

    • L71 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Mining, Extraction, and Refining: Hydrocarbon Fuels
    • L72 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Mining, Extraction, and Refining: Other Nonrenewable Resources


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