Optimization of Energy-Efficient Functioning of the Oil and Gas Sector of the Economy through Digitalization and Resource Conservation

Alexey I. Shinkevich, Yuri Yu. Kostyukhin, Diana Yu. Savon, Andrey E. Safronov and Alexander V. Aleksakhin
Additional contact information
Alexey I. Shinkevich: Department of Logistics and Management, Kazan National Research Technological University, Kazan, Russia
Yuri Yu. Kostyukhin: Department of Industrial Management, National University of Science and Technology MISiS , Moscow, Russia,
Diana Yu. Savon: Department of Industrial Management, National University of Science and Technology MISiS , Moscow, Russia,
Andrey E. Safronov: Department of Management and Business Technology, Don State Technical University, Rostov-on-Don, Russia,
Alexander V. Aleksakhin: Department of Economies, National University of Science and Technology MISIS , Moscow, Russia.

International Journal of Energy Economics and Policy, 2021, vol. 11, issue 5, 321-330

Abstract: This study is aimed at identifying the best values for the parameters of energy efficient digital development of the petroleum and gas sector. Research methods - construction of a production function, regression analysis and linear programming. Based on the production function of Cobb-Douglas, the dependence of the sales volumes of the petroleum and gas sector of the economy on the costs of digitalization and labor costs was revealed; the regression analysis method provided the construction of a set of equations describing the impact of the costs of energy resources of petroleum and gas enterprises and the costs of digitalization on the total costs of enterprises for production and sales, the efficiency of using by-products from petroleum production and labor capital; the optimal values of energy-efficient digital resource-saving development of the petroleum and gas sector of the economy have been determined, the achievement of which will ensure a decrease in the energy consumption of processes at the enterprises of the petroleum and gas complex. Thus, connections have been established and the trajectories of energy efficient functioning of the petroleum and gas sector of the economy have been determined. The research results can be applied within the framework of strategies for socio-economic development, sustainable development, as well as digitalization of the petroleum and gas complex and industrial enterprises.

Keywords: r egression analysis; digitalization; resource conservation; energy efficiency; petroleum and gas sector (search for similar items in EconPapers)
JEL-codes: D14 D24 D41 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.econjournals.com/index.php/ijeep/article/download/11695/6029 (application/pdf)
https://www.econjournals.com/index.php/ijeep/article/view/11695/6029 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eco:journ2:2021-05-36

Access Statistics for this article

International Journal of Energy Economics and Policy is currently edited by Ilhan Ozturk

More articles in International Journal of Energy Economics and Policy from Econjournals
Bibliographic data for series maintained by Ilhan Ozturk ().