DEVELOPMENT TRENDS IN RUSSIA’S OIL & GAS SECTOR

Yuri Bobylev

Russian Economic Development, 2014, issue 6, 19-23

Abstract: In 2013, oil production in Russia reached its highest level since 1990 while exports of crude oil and refi ned products reached its highest-ever level in response to high prices of crude oil in global markets. However, a trend towards slower growth rates and worsening of oil and gas production conditions was observed. The recently adopted laws and regulations concerning tax incentives for the development of new oil and gas fi elds and hardtorecover reserves, liberalization of export of liquefi ed natural gas, as well as a long-term gas contract with China, create conditions for further development of the Russian oil and gas sector.

Keywords: OIL; &; GAS; SECTOR (search for similar items in EconPapers)
JEL-codes: E52 P24 (search for similar items in EconPapers)
Date: 2014
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