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Overview of the Russian Oil and Petroleum Products Market in Crisis Conditions: Economic Aspects, Technology and Problems

Author

Listed:
  • Alex Borodin

    (Department of Sustainable Development Finance, Plekhanov Russian University of Economics, 117997 Moscow, Russia)

  • Galina Panaedova

    (Department of Tax Policy and Customs Affairs, North-Caucasus Federal University, 355017 Stavropol, Russia)

  • Irina Ilyina

    (Director of the Russian Research Institute of Economics, Politics and Law in the Scientific and Technical Field (RIEPP), 127254 Moscow, Russia)

  • Mustafa Harputlu

    (Governor of Antakya, 31000 Antakya, Turkey)

  • Natalia Kiseleva

    (Department of State and Municipal Administration and Law, Russian Presidential Academy of National Economy and Public Administration, 357502 Pyatigorsk, Russia)

Abstract

In the last decade, global discussions on the role of the Russian Federation in the energy supply system have continued to be relevant. Taking into account this context, the purpose of the article is to study the impact of the Russian oil and petroleum products market on sustainable development in the conditions of the “energy transition” declared in the country and to substantiate the mechanism of transition to a diversified energy model during the period of global geo-economic turbulence. The authors propose a methodological approach for conducting a comparative assessment of the level and dynamics of the development of the industry in the country and regions, based on the use of a set of objective indicators and the concept of taking into account the level and quality of life of the population. Using panel data on the country, federal districts and vertically integrated companies of Russia from 2005 to 2020 for empirical research, we found the determining influence of external and internal factors on sustainable development. The results revealed the problems regarding the current state of the Russian oil and petroleum products market. Summing up, it can be argued that the results presented in this article prove the need to solve industry problems and form innovative strategic directions of development in Russia in modern conditions of energy transformation.

Suggested Citation

  • Alex Borodin & Galina Panaedova & Irina Ilyina & Mustafa Harputlu & Natalia Kiseleva, 2023. "Overview of the Russian Oil and Petroleum Products Market in Crisis Conditions: Economic Aspects, Technology and Problems," Energies, MDPI, vol. 16(4), pages 1-18, February.
    • Handle: RePEc:gam:jeners:v:16:y:2023:i:4:p:1614-:d:1059343
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    References listed on IDEAS

    as
    1. Irina Ilina & Andrey Klypin, 2020. "Scientific and Technological Advancement of the Russian Federation: Current State and Prospects," Science Governance and Scientometrics Journal, Russian Research Institute of Economics, Politics and Law in Science and Technology (RIEPL), vol. 15(4), pages 458-485, Desember.
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    Cited by:

    1. Cemal Zehir & Mustafa Özyeşil & Alex Borodin & Esin Benhür Aktürk & Sara Faedfar & Mustafa Çikrikçi, 2023. "Corporate Governance’s Impact on Sustainable Finance: An Analysis of Borsa Istanbul Energy Sector Companies," Energies, MDPI, vol. 16(14), pages 1-12, July.
    2. Andrey Kulikov & Naief Alabed Alkader & Galina Panaedova & Aleksandr Ogorodnikov & Evgenii Rebeka, 2023. "Modelling Optimal Capital Structure in Gas and Oil Sector by Applying Simulation Theory and Programming Language of Python (Qatar Gas Transport Company)," Energies, MDPI, vol. 16(10), pages 1-15, May.
    3. Galina Panaedova & Alex Borodin & Cemal Zehir & Sergey Laptev & Andrey Kulikov, 2023. "Overview of the Russian Coal Market in the Context of Geopolitical and Economic Turbulence: The European Embargo and New Markets," Energies, MDPI, vol. 16(19), pages 1-29, September.
    4. Alex Borodin & Irina Vygodchikova & Galina Panaedova & Irina Mityushina, 2023. "Rating of Stability of Russian Companies in Oil and Gas and Electric Power Industries Based on Interval Volatility," Energies, MDPI, vol. 16(14), pages 1-16, July.
    5. Aleksandra Leschinskaya & Oksana Kirillova & Maksim Palyanov, 2023. "Assessment of the Formation of the Economic Effect of Cross-Subsidization in the Electric Power Industry," Energies, MDPI, vol. 16(16), pages 1-13, August.

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    1. Aleksandra Leschinskaya & Oksana Kirillova & Maksim Palyanov, 2023. "Assessment of the Formation of the Economic Effect of Cross-Subsidization in the Electric Power Industry," Energies, MDPI, vol. 16(16), pages 1-13, August.

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