Problems of Innovative Development of Oil Companies: Actual State, Forecast and Directions for Overcoming the Prolonged Innovation Pause

Yana Matkovskaya,Elena Vechkinzova,Yelena Petrenko,Larissa Steblyakova

doi:10.3390/en14040837

Yana Matkovskaya, Elena Vechkinzova + Show 2 more

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https://doi.org/10.3390/en14040837

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Abstract

The study of the rates of innovative development of various sectors of the modern economy makes it possible to determine the existence of a scientific and practical problem, eliciting the need for urgent identification of the reasons for non-innovative development of Oil and Gas Companies and development of the directions for innovation development. Based on a number of methods, including methods of graphical analysis, time series forecasting, construction of linear trends, correlation analysis and scenario forecasting, the authors stated the fact of the serious depth of the problem of innovative insufficiency in the oil sector in comparison with other sectors and they built six scenarios for the development of these companies. The applied methods made it possible to not only come to the conclusion that with the current level of investment in R&D in the oil and gas sector, Oil Companies may find themselves in difficult conditions, especially if breakthrough technologies show themselves in the non-hydrocarbon energy of the future, but also made it possible to determine the most important directions for the development of Oil Companies, including the formation and development of the oil and gas industry 4.0, marketing strategic management of the activities of these companies.

Highlights

Introduction published maps and institutional affilThe modern energy sector is experiencing a number of serious problems
The energy sector and Oil Companies are affected by specific external factors, such as changes in OPEC
The basic approaches used in the article are based in a broad sense on the classical political economy, neoclassical economic school presented in the works of A

Summary

Introduction

The modern energy sector is experiencing a number of serious problems. There is a number of common problems, experienced by most companies, related, for example, to internal management peculiarities [1,2,3,4]; networking strategy [5]; concentration and diversification issues [6] and so forth. The energy sector and Oil Companies are affected by specific external factors, such as changes in OPEC (The Organization of the Petroleum Exporting Countries) policy, the “shale revolution,”. The pandemic and lockdowns in their course had a profound financial impact, influenced the decrease in demand for the products of the Energy Industry and reduced the investment potential necessary for the development of companies of this industry [9].

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