Abstract.

Paper is focused on the transformation process in the context of globalization inside the oil industry. The authors demonstrated that in the course of the transformation of this sector the State (represented by both legal and executive powers) was anxious to protect an important budget and system creating role of this sector in the economy of the country, on the one hand, and had to "compensate" the reduction of the financial and economic potential of the sector by expanding of forms and opportunities of direct integration of economic units of this industry into the system of global links and relations. As it is showed by the authors, there is an indissoluble link between transformation and globalization processes inside the oil industry, and, furthermore, the globalization of the oil industry is a requirement of the survival and maintenance of its higher industrial and economic potential. · Significant disconnection and atomism of organizations of the sector between

INTRODUCTION

different ministries; · Dramatically falling economic efficiency The oil industry rather clearly demonstrates the of the sector, mainly, the drop of the oil impact made on its development in 1980-1990 production (especially due to the change by the transformation and globalization of characteristics of the basic constituent processes (i.e. modifications of the basic of the assets of the sector, i.e. hydrocarbon institutes, such as property forms, norms and reserves, because of the worsening of their rules regulating the behavior of basic actors, composition and the quality of and, finally, forms of interaction of these hydrocarbon reserves involved into actors and the organizational structure). This development). sector plays a specific role in the economy of Russia, not only due to the particular Three mentioned features of the oil and gas importance of energy resources but also due to sector predetermined (and continue to the significance to budgets of all levels (from influence on so far) the directions of its national budgets to budgets of separate transformation and their close links with municipalities and economic entities). An globalization processes. important role of the oil industry has also determined very specific features of the Over all these years of reforms the State based transformation and globalization processes its economic policy on the fact that the oil ongoing inside it. industry is one of the major sources of revenues for different budgets. However, due 1 Horizontal globalization and partial to the disconnection of different ministries and transformation as ways of exit the deterioration of oil production conditions, from

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