The Oil and Gas Sector

Journal of Russian Economic Developments, No. 1, 2013

5 Pages Posted: 26 Jan 2013

See all articles by Yuri Bobylev

Yuri Bobylev

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

Multiple version iconThere are 2 versions of this paper

Date Written: January 24, 2013

Abstract

The world market in 2012 was characterized by the persistence of high global oil and natural gas prices. The average price of Russian Urals crude oil on the European market, according to preliminary estimates, amounted to $ 110.3 per barrel, and that of Russian natural gas – to $ 418,2 per 1,000 m³, which translated into high profits of Russian oil and gas companies and considerable revenues of the state budget. Oil production in Russia in 2012 will amount to approximately 516m tons, which is the historic high of the last twenty-two years. Some additional tax measures designed to stimulate the development of new hydrocarbon deposits have been introduced.

Keywords: oil sector, gas sector

JEL Classification: L71, O13, Q30

Suggested Citation

Bobylev, Yuri, The Oil and Gas Sector (January 24, 2013). Journal of Russian Economic Developments, No. 1, 2013, Available at SSRN: https://ssrn.com/abstract=2206582

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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