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Russian Oil and Gas Sector in 2012

Author

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  • Yury Bobylev

    (Gaidar Institute for Economic Policy)

Abstract

Oil and gas production remain the core sector of Russia economy, which has a leading role in generating federal budget revenue and this country’s balance of trade. The factors that exerted the most significant influence on the development of the oil and gas sector of the Russian economy in 2012 were the situation on the world oil market; the situation on the European gas market; and the objective deterioration of the conditions for the extraction of oil and natural gas, which is associated with a declining production at the ‘old’ deposits and the considerably higher costs of the development of new ones, especially in unpopulated areas with no infrastructure..

Suggested Citation

  • Yury Bobylev, 2013. "Russian Oil and Gas Sector in 2012," Published Papers 151, Gaidar Institute for Economic Policy, revised 2013.
  • Handle: RePEc:gai:ppaper:151
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    File URL: http://www.iep.ru/files/RePEc/gai/ppaper/151Bobylev.pdf
    File Function: Revised version, 2013
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    More about this item

    Keywords

    Russian economy; oil world prices; oil production structure; oil and gas exports; tax regulation of the oil and gas sector;

    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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