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Assessment of Oil Rent of the Russian Federation

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  • Anatoly K. Pitelin

Abstract

The article presents the position of the author, relating to such an important economic concept as oil rent. The oil rent of the country, estimated in the world economic space, is determined and considered. A mathematical model is presented that allows calculating such rent using available statistical information. The method of obtaining initial data is described and the results of specific applied calculations are given. The interpretation of oil rents as super-profits of oil companies, established in economic science, affects, according to the author, only a part of the economic benefits that the country receives by developing its oil fields. If we consider such deposits as a natural gift, then it is possible, according to the author, to estimate the full size of this gift only as a result of comparing the real situation with the virtual one, in which there are no such deposits or they are, but are not exploited. The result of such a comparison is considered in the article as the oil rent of the country, estimated in the world economic space. As an illustration, the results of calculations of the oil rent of the Russian Federation for 2011, 2013, 2015 and 2018 are given. Ð brief analysis of the results obtained and their dependence on external economic circumstances is given. For the purpose of comparison, the calculation of the oil rent of Saudi Arabia for 2018 is given.

Suggested Citation

  • Anatoly K. Pitelin, 2022. "Assessment of Oil Rent of the Russian Federation," Economics of Contemporary Russia, Regional Public Organization for Assistance to the Development of Institutions of the Department of Economics of the Russian Academy of Sciences, issue 4.
    • Handle: RePEc:ack:journl:y:2022:id:741
    DOI: 10.33293/1609-1442-2021-4(95)-97-109
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