Development of the Oil Sector: Possibilities and Limitations

Russian Economic Developments, Moscow, No. 4, pp. 21-24, 2016

4 Pages Posted: 13 May 2016

See all articles by Yuri Bobylev

Yuri Bobylev

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

O. Rasenko

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

Date Written: May 12, 2016

Abstract

Russian oil sector has achieved maximum levels of production on and exports. Oil extraction is at the highest point since 1990 and oil exports are at the all-time maximum. Meanwhile, prospects for the development of the oil sector are determined by deterioration of the oil extraction conditions owing to the depletion on of producing deposits located in the developed regions and considerably higher costs required for the development of new oilfields and tight oil deposits. Sectoral technological sanctions imposed on Russia and the low world oil prices hamper the development of the oil sector.

Keywords: Russian Economy, Oil and Gas Sector

JEL Classification: P24, E52

Suggested Citation

Bobylev, Yuri and Rasenko, O., Development of the Oil Sector: Possibilities and Limitations (May 12, 2016). Russian Economic Developments, Moscow, No. 4, pp. 21-24, 2016. Available at SSRN: https://ssrn.com/abstract=2779298 or http://dx.doi.org/10.2139/ssrn.2779298

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

O. Rasenko

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

Vernadskogo Prospect 82
Moscow, 119571
Russia

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