Overview of the Russian Oil and Petroleum Products Market in Crisis Conditions: Economic Aspects, Technology and Problems

Alex Borodin (), Galina Panaedova, Irina Ilyina, Mustafa Harputlu and Natalia Kiseleva
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Alex Borodin: Department of Sustainable Development Finance, Plekhanov Russian University of Economics, 117997 Moscow, Russia
Galina Panaedova: Department of Tax Policy and Customs Affairs, North-Caucasus Federal University, 355017 Stavropol, Russia
Irina Ilyina: Director of the Russian Research Institute of Economics, Politics and Law in the Scientific and Technical Field (RIEPP), 127254 Moscow, Russia
Mustafa Harputlu: Governor of Antakya, 31000 Antakya, Turkey
Natalia Kiseleva: Department of State and Municipal Administration and Law, Russian Presidential Academy of National Economy and Public Administration, 357502 Pyatigorsk, Russia

Energies, 2023, vol. 16, issue 4, 1-18

Abstract: In the last decade, global discussions on the role of the Russian Federation in the energy supply system have continued to be relevant. Taking into account this context, the purpose of the article is to study the impact of the Russian oil and petroleum products market on sustainable development in the conditions of the “energy transition” declared in the country and to substantiate the mechanism of transition to a diversified energy model during the period of global geo-economic turbulence. The authors propose a methodological approach for conducting a comparative assessment of the level and dynamics of the development of the industry in the country and regions, based on the use of a set of objective indicators and the concept of taking into account the level and quality of life of the population. Using panel data on the country, federal districts and vertically integrated companies of Russia from 2005 to 2020 for empirical research, we found the determining influence of external and internal factors on sustainable development. The results revealed the problems regarding the current state of the Russian oil and petroleum products market. Summing up, it can be argued that the results presented in this article prove the need to solve industry problems and form innovative strategic directions of development in Russia in modern conditions of energy transformation.

Keywords: oil and petroleum products market; economic development; oil companies; engineering (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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