Economics In The Oil And Gas Industry Of Modern Russia

Abstract

The article examines the current state of the oil and gas industry to address economic development paths. The paper deals with the current state of the oil and gas sector, its main trends, development prospects in recent years. The economy of Russia, as well as other oil and gas producing countries, is extremely dependent on the level of development of the oil and gas complex. The Russian Federation is a key supplier of oil and petroleum products to the EAEU countries. The share of oil and gas revenues in federal revenues, although to some extent it is declining, continues to remain at a high level. In the structure of oil and gas revenues, the largest part is occupied by MET. The share of export duties in the value of oil and gas revenues is constantly decreasing, for example, from 33.4 % in 2018 to 21.5 % in 5 months of 2020, which was influenced by the economic sanctions of Western countries taken in order to weaken the Russian economy. Based on the analysis of official statistical data, the author examines the role of oil and gas revenues in the federal budget and the consolidated budget of the Russian Federation in recent years, the structure of oil and gas revenues of the federal budget, the national welfare fund. Attention is paid to the relationship between the income received from the reserve fund and the national welfare fund.