THE OIL AND GAS SECTOR’S DEVELOPMENT

Yuri Bobylev

Russian Economic Development, 2015, issue 4, 32-36

Abstract: In 2014, Russia’s crude oil output hit its record high since 1990. At the same time, the growth rates of oil produc- tion and oil exports are displaying an obvious slowdown. Besides, some additional negative factors have emerged that impose still more constraints of the oil sector’s further development: the plummeting world prices for oil and the fi nancial and technological sanctions introduced against Russia. Since 2015, the oil sector’s taxation system has been undergoing structural transformations designed to signifi cantly play down the economic role of export duties.

Keywords: OIL; &; GAS; SECTOR (search for similar items in EconPapers)
JEL-codes: E52 P24 (search for similar items in EconPapers)
Date: 2015
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