Esteemed Colleagues, Ladies and gentlemen, raw materials source, high production costs, payment crisis, acute 'shortage of investment. Improvement of Oil industry in Russia represents in the .the state taxation and .price policy is an important aggregate the enterprises of exploration, production. "element of the oil industry development strategy It Refining, transportation and sale of oil and petroleum requires the change of direction from fiscal. and products. Almost all enterprises of the. industry are economic concept to investment oriented one in comprised. Corporal structure of the industry includes interrelations of the state and industry. at present. 11 vertically. integrated oil companies that produce 88 % of oil in the country and 113 small and A major, industry problem is 'deterioration medium non integrated companies whose production both', quantitative and qualitative of the state of raw share amounts to 9 %. OJSC "Gazprom" produces 3 %. materials source, Major oil and gas provinces. are in The oil companies, include 28. refineries, 6 lubricant the late stages of development: 'with decreasing production plants and 2 shale processing plants. Trunk production. Exploration amounts have fallen as well as oil pipelines length is almost 47 thousand km and that its financing, its effectiveness 'having decreased: of petroleum products totals 20 thousand km. Oil and mostly small and medium fields discovered are located petroleum products transportation is attributed by far from the existing production infrastructure. Thus, Russia's legislation to the sphere of natural since mid nineties oil 'reserves increment has not monopolies. 'compensated. current output, the share of reserves' that are hard to extract keeps on growing, non Oil industry along with gas industry is the operating well stock has considerably increased. basis of the country's energy supply and major source of tax (about 40% of the federal budget. income) and. In order to upkeep output with explored hard currency (40%) state revenues. At present oil reserves on economically well-founded level, it is production has stabilized after having experienced a necessary to improve the legislation in force in the" slump of the decade at a level a bit over 300 million field of subsoil deposits exploitation. To do this, it is tonnes annua11y. Due to the measures taken by the required, firstly, to create incentives to effectively' government to reorganise the oil sector, positive trends carry out exploration at the expense of the owner of in the industry development have taken shape in the deposits own funds, secondly, to achieve maximum last and beginning of this year. freed
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Concept of Developing Oil Sector in Russia
_ Kochnev
_ Kochnev
Ministry of Fuel and Energy of Russian Federation
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Paper presented at the 16th World Petroleum Congress, Calgary, Canada, June 2000.
Paper Number:
WPC-30018
Published:
June 11 2000
Citation
Kochnev, _. "Concept of Developing Oil Sector in Russia." Paper presented at the 16th World Petroleum Congress, Calgary, Canada, June 2000.
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