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Global Refining Industry in Retrospect, and Evaluation of Russia-EU Petroleum Products Trade Perspectives

Author

Listed:
  • Igbal A. Guliyev

    (International Institute of Energy Policy and Diplomacy, Moscow State Institute of International Relations (University) of the Ministry of Foreign Affairs of the Russian Federation, Moscow, Russia)

  • Elnur T. Mekhdiev

    (Center for Post-Soviet Studies of the Institute of international studies, Moscow State Institute of International Relations (University) of the Ministry of Foreign Affairs of the Russian Federation, Moscow, Russia)

  • Igor I. Litvinyuk

    (Centre for Strategic Research and Geopolitics in Energy, International Institute of Energy Policy and Diplomacy, Moscow State Institute of International Relations (University) of the Ministry of Foreign Affairs of the Russian Federation, Moscow, Russia,)

  • Alexandr V. Bondarenko

    (Ufa State Petroleum Technological University, Russia)

  • Aibulat R. Yanguzin

    (Professor of Philosophy and political science sub-faculty of the Bashkir State University. Russia)

Abstract

Oil-refining industry plays a significant role in the development of the world fuel and energy complex. In the meantime, at the current stage of this industry s development quality changes are taking place in it. Taking into account the traditional siting of refinery capacity close to consumption centers, many countries consider the possibility of building their own oil refineries to satisfy the growing domestic demand for oil products. Other countries consider the possibility of developing refineries not only for the national market, but also for export of petroleum products. Such a tendency can be observed in Russia. The article deals with current state and relevant issues of development of oil refining industry on the global scale, with the latter being largely driven by consumer demand changes. Particular attention is given to Baltic Sea region countries that are considered as potential markets for diesel fuel exports in the context of the capacity increase of oil refining in Russia.

Suggested Citation

  • Igbal A. Guliyev & Elnur T. Mekhdiev & Igor I. Litvinyuk & Alexandr V. Bondarenko & Aibulat R. Yanguzin, 2017. "Global Refining Industry in Retrospect, and Evaluation of Russia-EU Petroleum Products Trade Perspectives," International Journal of Energy Economics and Policy, Econjournals, vol. 7(5), pages 209-216.
    • Handle: RePEc:eco:journ2:2017-05-23
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    References listed on IDEAS

    as
    1. Igbal Guliyev & Igor Litvinyuk, 2017. "Issues for Long-range Projection of International Energy Markets through the Prism of Sustainable Development," International Journal of Energy Economics and Policy, Econjournals, vol. 7(2), pages 296-303.
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    Cited by:

    1. Igbal A. Guliyev & Igor I. Litvinyuk & Elnur T. Mekhdiev & Victor N. Bondarenko & Alexandr S. Vereshchagin, 2018. "Establishment and Marketing of New Oil Benchmarks in the Structure of Global Oil and Oil Products Mercantile Trade: the Russian Case," International Journal of Energy Economics and Policy, Econjournals, vol. 8(2), pages 95-101.
    2. Vladimir Pavlovich Klepikov & Vladimir Vladimirovich Klepikov, 2018. "Crude Oil Logistics, Production and Refining in Northern Europe," International Journal of Energy Economics and Policy, Econjournals, vol. 8(5), pages 18-28.
    3. Angelina A. Kolomeytseva & Maria A. Maksakova, 2019. "Integration Potential in Energy Sector: Eurasian Economic Union Case," International Journal of Energy Economics and Policy, Econjournals, vol. 9(2), pages 174-181.

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    More about this item

    Keywords

    Russia; oil; petroleum products; diesel; refining; international trade; EU; energy market;
    All these keywords.

    JEL classification:

    • F16 - International Economics - - Trade - - - Trade and Labor Market Interactions
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
    • L71 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Mining, Extraction, and Refining: Hydrocarbon Fuels

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