Russia's Oil and Gas Sector in 2011
Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration
Gaidar Institute for Economic Policy
February 10, 2012
Russian Economy in 2011, Trends and Outlooks, Issue 33, Moscow 2012
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 2011 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.
Number of Pages in PDF File: 20
Keywords: Russian oil and gas sector, Russian economy
JEL Classification: L71, L72Accepted Paper Series
Date posted: October 13, 2012 ; Last revised: November 22, 2012
© 2013 Social Science Electronic Publishing, Inc. All Rights Reserved.
This page was processed by apollo5 in 0.422 seconds