Climate challenges of the oil industry (End of the article, see 4/2017)

Ol’ga Leonidovna Garanina
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Ol’ga Leonidovna Garanina: St Petersburg State University, St. Petersburg, Russia

Russian Foreign Economic Journal, 2017, issue 5, 77-87

Abstract: The article examines the recent trends in global oil markets in the context of transition towards low-carbon energy system. It also discusses possible implications for international and Russian oil companies. Long-term oil demand projections show that oil demand will be driven by the emerging economies (China, India), while in OECD countries oil demand tends to decline.The article studies new challenges faced by international oil companies (demand uncertainty and “unburnable carbon” problem, raising environmental responsibility of investors), as well as possible ways to adapt oil companies' strategies to new market conditions. Finally, market risks for Russian oil companies are discussed.

Keywords: Oil companies; oil market; energy transition; «green» economy; Russia. (search for similar items in EconPapers)
Date: 2017
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