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Public-Private Partnership as a Tool of Sustainable Development in the Oil-Refining Sector: Russian Case

Author

Listed:
  • Irina Filatova

    (Department of Economics, Organization and Management, Saint Petersburg Mining University, 199106 St. Petersburg, Russia)

  • Liubov Nikolaichuk

    (Department of Economics, Organization and Management, Saint Petersburg Mining University, 199106 St. Petersburg, Russia)

  • Dokka Zakaev

    (Department of Economics, Organization and Management, Saint Petersburg Mining University, 199106 St. Petersburg, Russia)

  • Igor Ilin

    (Higher School of Business and Management, Peter the Great St. Petersburg Polytechnic, University Federal State Autonomous Educational, 195251 St. Petersburg, Russia)

Abstract

Dramatic changes in the global energy market due to COVID-19 pandemic, the OPEC+ agreement, and increasing rates of green energy share in the world community have brought negative effects on the oil sector. In the long term, oil will reduce its importance as an energy resource, but for many years, it will continue to play a significant role in the world of energy. The oil industry has huge potential in terms of technical expertise, management, and financial resources to reduce its greenhouse emissions and ensuring an affordable availability of predictable energy. However, nowadays this sector has lost investing attractiveness. It is an interdisciplinary problem with a solution at the intersection of different stakeholders’ interests. The article is a review one and devoted to the issue of the implementation a public-private partnership (PPP) as a key tool that allows the use of the state and the business’ available resources to achieve the sector’s sustainable development and investment attractiveness. Research and analysis of PPP were based on foreign and domestic literature, using classification and generalization methods, retrospective and critical analysis. This paper contains identified groups of drivers, constraints, and recommendations for further successful PPP implementation in the Russian case.

Suggested Citation

  • Irina Filatova & Liubov Nikolaichuk & Dokka Zakaev & Igor Ilin, 2021. "Public-Private Partnership as a Tool of Sustainable Development in the Oil-Refining Sector: Russian Case," Sustainability, MDPI, vol. 13(9), pages 1-23, May.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:9:p:5153-:d:549032
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    References listed on IDEAS

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    Cited by:

    1. Yuriy Zhukovskiy & Pavel Tsvetkov & Aleksandra Buldysko & Yana Malkova & Antonina Stoianova & Anastasia Koshenkova, 2021. "Scenario Modeling of Sustainable Development of Energy Supply in the Arctic," Resources, MDPI, vol. 10(12), pages 1-25, December.
    2. Bingyao Chen, 2021. "Public–Private Partnership Infrastructure Investment and Sustainable Economic Development: An Empirical Study Based on Efficiency Evaluation and Spatial Spillover in China," Sustainability, MDPI, vol. 13(15), pages 1-20, July.
    3. Nikolay Korolev & Anatoly Kozyaruk & Valentin Morenov, 2021. "Efficiency Increase of Energy Systems in Oil and Gas Industry by Evaluation of Electric Drive Lifecycle," Energies, MDPI, vol. 14(19), pages 1-15, September.
    4. Fatima Dirani & Tatiana Ponomarenko, 2021. "Contractual Systems in the Oil and Gas Sector: Current Status and Development," Energies, MDPI, vol. 14(17), pages 1-14, September.

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