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Public-Private Partnership as a Tool of Sustainable Development in the Oil-Refining Sector: Russian Case

Irina Filatova (), Liubov Nikolaichuk (), Dokka Zakaev () and Igor Ilin ()
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Irina Filatova: Department of Economics, Organization and Management, Saint Petersburg Mining University, 199106 St. Petersburg, Russia
Liubov Nikolaichuk: Department of Economics, Organization and Management, Saint Petersburg Mining University, 199106 St. Petersburg, Russia
Dokka Zakaev: Department of Economics, Organization and Management, Saint Petersburg Mining University, 199106 St. Petersburg, Russia
Igor Ilin: Higher School of Business and Management, Peter the Great St. Petersburg Polytechnic, University Federal State Autonomous Educational, 195251 St. Petersburg, Russia

Sustainability, 2021, vol. 13, issue 9, 1-23

Abstract: Dramatic changes in the global energy market due to COVID-19 pandemic, the OPEC+ agreement, and increasing rates of green energy share in the world community have brought negative effects on the oil sector. In the long term, oil will reduce its importance as an energy resource, but for many years, it will continue to play a significant role in the world of energy. The oil industry has huge potential in terms of technical expertise, management, and financial resources to reduce its greenhouse emissions and ensuring an affordable availability of predictable energy. However, nowadays this sector has lost investing attractiveness. It is an interdisciplinary problem with a solution at the intersection of different stakeholders’ interests. The article is a review one and devoted to the issue of the implementation a public-private partnership (PPP) as a key tool that allows the use of the state and the business’ available resources to achieve the sector’s sustainable development and investment attractiveness. Research and analysis of PPP were based on foreign and domestic literature, using classification and generalization methods, retrospective and critical analysis. This paper contains identified groups of drivers, constraints, and recommendations for further successful PPP implementation in the Russian case.

Keywords: investments; oil-refining sector; public policy; energy and resources policy; public-private partnership (PPP); Russia; sustainable development; synergetic effect (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
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