Economic Aspects of the Sustainable Technological Development of the Oil and Gas Industry in the Context of Low Oil Prices and the Current Situation in the Energy Markets

Leontiy V. Eder, Irina V. Provornava, Anna A. Kulik, Vasily Yu Ncmov

Research output: Chapter in Book/Report/Conference proceedingConference contributionResearchpeer-review

Abstract

This article examines the dynamics of oil and gas companies' operating expenses as a factor of technological development. Based on the econometric model built on the basis of panel data, it was shown that with the oil prices plunging, oil and gas companies almost halved operating expenses primarily due to technological development in the field of hydrocarbons' exploration and production. It throws down a significant challenge to the Russian oil and gas industry in efficiency gains of the hard-to-recover oil and gas reserves' development and import phase-out.

Original languageEnglish
Title of host publication2018 14th International Scientific-Technical Conference on Actual Problems of Electronic Instrument Engineering, APEIE 2018 - Proceedings
PublisherInstitute of Electrical and Electronics Engineers Inc.
Pages368-373
Number of pages6
ISBN (Electronic)9781538670545
DOIs
Publication statusPublished - 26 Nov 2018
Event14th International Scientific-Technical Conference on Actual Problems of Electronic Instrument Engineering, APEIE 2018 - Novosibirsk, Russian Federation
Duration: 2 Oct 20186 Oct 2018

Conference

Conference14th International Scientific-Technical Conference on Actual Problems of Electronic Instrument Engineering, APEIE 2018
CountryRussian Federation
CityNovosibirsk
Period02.10.201806.10.2018

Keywords

  • oil prices
  • petroleum
  • sustainable development
  • Technological development
  • unconventional resources

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