Russia's Oil and Gas Sector in 2009

Russian Economy in 2009: Trends and Outlooks, Issue 31, Moscow, 2010

21 Pages Posted: 21 Oct 2012

See all articles by Yuri Bobylev

Yuri Bobylev

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

Date Written: January 30, 2010

Abstract

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.

Keywords: Russian economy, Russia's oil and gas sector, oil production, oil export, oil prices

JEL Classification: L71, L72

Suggested Citation

Bobylev, Yuri, Russia's Oil and Gas Sector in 2009 (January 30, 2010). Russian Economy in 2009: Trends and Outlooks, Issue 31, Moscow, 2010, Available at SSRN: https://ssrn.com/abstract=2164928

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

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