Russia's Oil and Gas Sector in 2011

Russian Economy in 2011, Trends and Outlooks, Issue 33, Moscow 2012

20 Pages Posted: 13 Oct 2012 Last revised: 17 Apr 2015

See all articles by Yuri Bobylev

Yuri Bobylev

Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration

Ilya Fedorov

Gaidar Institute for Economic Policy

Date Written: February 10, 2012

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 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.

Keywords: Russian oil and gas sector, Russian economy

JEL Classification: L71, L72

Suggested Citation

Bobylev, Yuri and Fedorov, Ilya, Russia's Oil and Gas Sector in 2011 (February 10, 2012). Russian Economy in 2011, Trends and Outlooks, Issue 33, Moscow 2012. Available at SSRN: https://ssrn.com/abstract=2160720

Yuri Bobylev (Contact Author)

Gaidar Institute for Economic Policy ( email )

Gazetny pereulok, 3-5
Moscow, 125993
Russia

Russian Presidential Academy of National Economy and Public Administration ( email )

Vernadsky Avenue 82
119571
Russia

Ilya Fedorov

Gaidar Institute for Economic Policy ( email )

3-5 Gazetny Lane
Moscow, 125009
Russia

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