Problems and prospects of development of the Russian oil and gas complex at the present stage

Abstract

The article presents the challenges and threats of the Russian oil and gas complex against the background of global trends. The author asks the question of the analysis of the Main threat to the Russian export of oil and petroleum products to Europe, which comes from suppliers from the United States and the General aggravation of competition in the crude oil market due to the likely decline in demand due to the slowdown in the economies of the EU and Turkey. At the present stage, the author comes to the conclusion that the progressive enterprises of the oil and gas sector are those that implement projects in the field of rapid creation and introduction of new technologies in the production chain. As a result, companies that are technologically and financially lagging behind face serious problems that harm their reputation, and even more so their viability in the market. It should be added that the development of Russian oil and gas industry enterprises is hampered by various sanctions imposed on the economy of the state. In the course of the study, the author concludes that the development of the oil and gas sector is due to many external and internal factors, the instability of which leads to a collision of this business with large-scale development problems, which subsequently have an undeniable impact on the economy of oil-producing countries as a whole. However, the oil and gas sector also has development prospects, which are mainly related to the improvement of technologies, an increase in the share of exports, pricing policy and the absence of sanctions.