Global Refining Industry in Retrospect, and Evaluation of Russia-EU Petroleum Products Trade Perspectives

Igbal A. Guliyev, Elnur T. Mekhdiev, Igor I. Litvinyuk, Alexandr V. Bondarenko and Aibulat R. Yanguzin
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Igbal A. Guliyev: International Institute of Energy Policy and Diplomacy, Moscow State Institute of International Relations (University) of the Ministry of Foreign Affairs of the Russian Federation, Moscow, Russia
Elnur T. Mekhdiev: Center for Post-Soviet Studies of the Institute of international studies, Moscow State Institute of International Relations (University) of the Ministry of Foreign Affairs of the Russian Federation, Moscow, Russia
Igor I. Litvinyuk: Centre for Strategic Research and Geopolitics in Energy, International Institute of Energy Policy and Diplomacy, Moscow State Institute of International Relations (University) of the Ministry of Foreign Affairs of the Russian Federation, Moscow, Russia,
Alexandr V. Bondarenko: Ufa State Petroleum Technological University, Russia
Aibulat R. Yanguzin: Professor of Philosophy and political science sub-faculty of the Bashkir State University. Russia

International Journal of Energy Economics and Policy, 2017, vol. 7, issue 5, 209-216

Abstract: Oil-refining industry plays a significant role in the development of the world fuel and energy complex. In the meantime, at the current stage of this industry s development quality changes are taking place in it. Taking into account the traditional siting of refinery capacity close to consumption centers, many countries consider the possibility of building their own oil refineries to satisfy the growing domestic demand for oil products. Other countries consider the possibility of developing refineries not only for the national market, but also for export of petroleum products. Such a tendency can be observed in Russia. The article deals with current state and relevant issues of development of oil refining industry on the global scale, with the latter being largely driven by consumer demand changes. Particular attention is given to Baltic Sea region countries that are considered as potential markets for diesel fuel exports in the context of the capacity increase of oil refining in Russia.

Keywords: Russia; oil; petroleum products; diesel; refining; international trade; EU; energy market (search for similar items in EconPapers)
JEL-codes: F16 F63 L16 L71 O52 R12 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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