Development Trends in Russia’s Oil & Gas Sector

Russian Economic Developments. Moscow, 2014, #6, pp. 19-23

5 Pages Posted: 25 Jun 2014

See all articles by Yuri Bobylev

Yuri Bobylev

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

Date Written: June 24, 2014

Abstract

In 2013, oil production in Russia reached its highest level since 1990 while exports of crude oil and refined products reached its highest-ever level in response to high prices of crude oil in global markets. However, a trend towards slower growth rates and worsening of oil and gas production conditions was observed. The recently adopted laws and regulations concerning tax incentives for the development of new oil and gas fields and hard to recover reserves, liberalization of export of liquefied natural gas, as well as a long-term gas contract with China, create conditions for further development of the Russian oil and gas sector.

Keywords: Russian economy, oil and gas sector

JEL Classification: P24, E52

Suggested Citation

Bobylev, Yuri, Development Trends in Russia’s Oil & Gas Sector (June 24, 2014). Russian Economic Developments. Moscow, 2014, #6, pp. 19-23, Available at SSRN: https://ssrn.com/abstract=2458411 or http://dx.doi.org/10.2139/ssrn.2458411

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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