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Prospects for the Development of the Oil and Gas Industry in the Regional and Global Economy

Author

Listed:
  • Ivan V. Morozov

    (Department of State and Municipal Management, Plekhanov Russian University of Economics, Moscow, Russian Federation)

  • Yuliya M. Potanina

    (Department of Accounting, Statistics and Audit, Moscow State Institute of International Relations (MGIMO University), Moscow, Russian Federation)

  • Sergey A. Voronin

    (Department of Civil Law and Procedure and Private International Law, RUDN University, Moscow, Russian Federation,)

  • Natalia V. Kuchkovskaya

    (Department of Corporate Finance and Corporate Governance, Financial University under the Government of the Russian Federation, Moscow, Russian Federation)

  • Mapo Dare Siliush

    (Department of World Economics, International University of Management, Windhoek, Namibia)

Abstract

Problems of energy efficiency, along with increasing environmental safety of production and increasing social responsibility, are becoming a central object of research. Therefore, the main goal of the work is to analyze the prospects for the development of the oil and gas industry. It was established that innovative technologies play an important role in the development of energy. In the structure of public administration, the definition of the place in the close relationship with commodity-money relations, mediating its implementation. But refusal of oil resources will lead to negative consequences. It is established that the maximum production of conventional oil in the world in the amount of 4.5-4.8 billion tons per year will be achieved in 2020-2030. Major areas of conventional oil production in this period will be oil and gas basins of the Persian Gulf, Western and Eastern Siberia, the Caspian sea, the Atlantic shelves of Africa and South America. The achieved level of oil production can be maintained by large-scale involvement in the development of non-traditional sources (bitumen and shale oil). According to the raw material base, the leaders of unconventional oil production should be Venezuela, Canada, Russia and the United States.

Suggested Citation

  • Ivan V. Morozov & Yuliya M. Potanina & Sergey A. Voronin & Natalia V. Kuchkovskaya & Mapo Dare Siliush, 2018. "Prospects for the Development of the Oil and Gas Industry in the Regional and Global Economy," International Journal of Energy Economics and Policy, Econjournals, vol. 8(4), pages 55-62.
    • Handle: RePEc:eco:journ2:2018-04-7
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    References listed on IDEAS

    as
    1. Ivan Nazarov, 2015. "Overview of the Russian Natural Gas Industry," Palgrave Macmillan Books, in: Andrey Vavilov (ed.), Gazprom, chapter 1, pages 15-47, Palgrave Macmillan.
    2. Anatoly Zhuplev, 2012. "Russian Energy Sector: Trends and Strategic Implications in the Eurasian Context," Palgrave Macmillan Books, in: Marin A. Marinov & Svetla T. Marinova (ed.), Impacts of Emerging Economies and Firms on International Business, chapter 11, pages 207-249, Palgrave Macmillan.
    3. Justin Yifu Lin & Valery Makarov, 1998. "Transition to a Market-Oriented Economy: China versus Eastern Europe and Russia," International Economic Association Series, in: Yujiro Hayami & Masahiko Aoki (ed.), The Institutional Foundations of East Asian Economic Development, chapter 8, pages 215-251, Palgrave Macmillan.
    4. Galym B. Teleuyev & Oksana V. Akulich & Marsel A. Kadyrov & Andrey A. Ponomarev & Elnur L. Hasanov, 2017. "Problems of Legal Regulation for Use and Development of Renewable Energy Sources in the Republic of Kazakhstan," International Journal of Energy Economics and Policy, Econjournals, vol. 7(5), pages 296-301.
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    Cited by:

    1. Valery F. Anisimov & Yuri V. Truntsevsky & Valery V. Bessel & Saltanat Yessetova, 2020. "Prospects of Development of the Oil Industry in the Global Economy and in the Regional Economies," International Journal of Energy Economics and Policy, Econjournals, vol. 10(1), pages 265-279.

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    More about this item

    Keywords

    environmental policy; oil production; forecast; coal-fired power plants; economic crisis.;
    All these keywords.

    JEL classification:

    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
    • Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

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