Abstract
The fuel and energy sector of the world economy and of Russia in particular is surviving heavy and high-speed transformations which inevitably will touch everyone. This article aims to analyze the modern tendencies of Russian worldwide natural resources perspectives of development and to understand the potential of economic drivers. Therefore, the current picture of oil and gas market for Russia and others countries was evaluated. Possible risks for Russian Federation including entrepreneurial difficulties were studied. Using econometric methods, the features influencing the amount of oil extracting were defined. The research allowed us to conclude that the major significant variable influencing oil extraction is “Well yield per day”. According to this result we may state the initiating of new oil fields is of great need in Russia.
Highlights
The fuel and energy resources are still very important for the well-being on the Earth
The economic development of all countries in the world possessing or not the natural resources depends on world oil prices, volumes of the energy commodities trade, their market speculations
Oil resources keep the positions of the basic energy source
Summary
The fuel and energy resources are still very important for the well-being on the Earth. At the same time the overall supply from non-OPEC countries in 2018 reached 60.03 MMBoe/d These positive tendencies enhanced the development of fuel and energy sector in USA. They increase export of oil, natural gas and chemicals, significantly influencing world energy market. - changes in basic powerholders in IMF, - world oil prices dynamics All these factors influence Russian economy which at the moment is suffering significant difficulties, increase of entrepreneurial risks barrier the economic development the huge natural resources such as major oil fields.
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