Prospects for the Development of the Oil and Gas Industry in the Regional and Global Economy

Ivan V. Morozov, Yuliya M. Potanina, Sergey A. Voronin, Natalia V. Kuchkovskaya and Mapo Dare Siliush
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Ivan V. Morozov: Department of State and Municipal Management, Plekhanov Russian University of Economics, Moscow, Russian Federation
Yuliya M. Potanina: Department of Accounting, Statistics and Audit, Moscow State Institute of International Relations (MGIMO University), Moscow, Russian Federation
Sergey A. Voronin: Department of Civil Law and Procedure and Private International Law, RUDN University, Moscow, Russian Federation,
Natalia V. Kuchkovskaya: Department of Corporate Finance and Corporate Governance, Financial University under the Government of the Russian Federation, Moscow, Russian Federation
Mapo Dare Siliush: Department of World Economics, International University of Management, Windhoek, Namibia

International Journal of Energy Economics and Policy, 2018, vol. 8, issue 4, 55-62

Abstract: Problems of energy efficiency, along with increasing environmental safety of production and increasing social responsibility, are becoming a central object of research. Therefore, the main goal of the work is to analyze the prospects for the development of the oil and gas industry. It was established that innovative technologies play an important role in the development of energy. In the structure of public administration, the definition of the place in the close relationship with commodity-money relations, mediating its implementation. But refusal of oil resources will lead to negative consequences. It is established that the maximum production of conventional oil in the world in the amount of 4.5-4.8 billion tons per year will be achieved in 2020-2030. Major areas of conventional oil production in this period will be oil and gas basins of the Persian Gulf, Western and Eastern Siberia, the Caspian sea, the Atlantic shelves of Africa and South America. The achieved level of oil production can be maintained by large-scale involvement in the development of non-traditional sources (bitumen and shale oil). According to the raw material base, the leaders of unconventional oil production should be Venezuela, Canada, Russia and the United States.

Keywords: environmental policy; oil production; forecast; coal-fired power plants; economic crisis. (search for similar items in EconPapers)
JEL-codes: L10 Q40 Q43 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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