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Modelling of Energy Efficiency Factors of Petrochemical Industry

Author

Listed:
  • Alexey I. Shinkevich

    (Department of Logistics and Management, Kazan National Research Technological University (KNRTU), Kazan, Russia,)

  • Svetlana S. Kudryavtseva

    (Department of Logistics and Management, Kazan National Research Technological University (KNRTU), Kazan, Russia,)

  • Irina G. Ershova

    (Department of Finance and Credit, Southwestern State University (SWSU), Kursk, Russia.)

Abstract

The relevance of the article is due to the fact that the issues of improving the energy efficiency of the petrochemical industry are constantly developing and require the development of new methodological solutions and management tools, which is especially important for the economies of countries where the share of oil production and refining in the structure of gross value added is high. The solution of the identified tasks will allow to reveal new directions of improvement of stability of the petrochemical complex and increase of its competitiveness. The purpose of the article is to determine the relationship between energy efficiency indicators and industrial production indicators, as well as to cluster regions in which the oil production and oil refining industry is present in order to systematize the factors of their development. As the main methods of research, the article uses the method of description, which allowed to remove the trend use of the resource saving system in the petrochemical complex; a correlation analysis method that established close links between energy efficiency indicators and industrial production indicators; the K-means method, which allows for clustering of regional petrochemical complexes to identify common trends with a view to developing subsequent management decisions at the regional level. The article analyses energy efficiency and energy saving systems on the example of enterprises-representatives of the petrochemical complex; the relationship between the industrial production index and energy saving indicators in the petrochemical industry has been identified; regional petrochemical complexes were clustered based on their energy intensity. The materials of the article can be used in the development of energy efficiency strategies and programs in petrochemical enterprises, which will increase their economic and production efficiency, as well as competitiveness in the context of transformation of the entire macroeconomic system to achieve its sustainability.

Suggested Citation

  • Alexey I. Shinkevich & Svetlana S. Kudryavtseva & Irina G. Ershova, 2020. "Modelling of Energy Efficiency Factors of Petrochemical Industry," International Journal of Energy Economics and Policy, Econjournals, vol. 10(3), pages 465-470.
    • Handle: RePEc:eco:journ2:2020-03-58
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    References listed on IDEAS

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    More about this item

    Keywords

    energy efficiency; industrial complex; energy intensity of economy; gross value added; energy-saving technologies; energy consumption; electric labor ratio; cluster analysis.;
    All these keywords.

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E14 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Austrian; Evolutionary; Institutional

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