The State and Development Trends of the Oil and Gas Industry in Russia

Authors

  • Olga M. Korobeynikova Volgograd State Technical University
  • Tatyana A. Dugina Volzhsky Institute of Economics, Pedagogy and Law
  • Anna S. Gorbacheva Volgograd State Agrarian University

DOI:

https://doi.org/10.52575/2687-0932-2025-52-2-306-317

Keywords:

oil and gas industry, oil and gas companies, sanctions, OPEC, financial results, profitability

Abstract

The article assesses the state of the oil and gas industry in Russia. It has been established that the oil and gas industry is characterized by a high level of production concentration. In 2023, only 0.03 % of the total number of organizations in the country operated in the industry, their share in turnover equaling 6.27 %. Although the growth of financial results in the industry lags behind the average rates in the economy, the industry remains highly marginal. Product profitability is twice as high as the average values in the economy. The export of petroleum products is more stable in comparison with the supply of raw materials, but crude oil supplies continue to dominate the export structure. The financial condition of oil and gas companies is stable. Despite the more than a twofold increase in loan obligations and accounts payable, enterprises are solvent, and the decrease in the share of overdue accounts receivable is assessed positively. The main trends in the development of the oil and gas industry in Russia are substantiated: deepening digitalization and automation of technological processes, import substitution and strengthening of technological sovereignty, implementation of principles of sustainable development and "green" technologies, development of new sources and technologies for hydrocarbon production, dependence on geopolitical factors and international agreements within the framework of OPEC+.

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Author Biographies

Olga M. Korobeynikova, Volgograd State Technical University

Doctor of Economics, Associate Professor, Professor of the Department of Economics and Entrepreneurship, Volgograd State Technical University, Volgograd, Russia

E-mail: korobeinikov77@yandex.ru

Tatyana A. Dugina, Volzhsky Institute of Economics, Pedagogy and Law

Candidate of Economic Sciences, Associate Professor, Vice-Rector for Research and Digitalization, Volzhsky Institute of Economics, Pedagogy and Law, Volzhsky, Volgograd Region, Russia

Anna S. Gorbacheva, Volgograd State Agrarian University

Candidate of Economic Sciences, Associate Professor, Associate Professor of the Department of Accounting and Information Technologies and Audit, Volgograd State Agrarian University, Volgograd, Russia

References

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Kirilchuk S.P., Tsopa N.V., Apatova N.V., Nalivaichenko E.V., Gerasimova S.V., Burkaltseva D.D., Polskaya S.I., Polskaya L.V. 2023. Scientific and methodological approach to the assessment of the region financial and production structure. E3S Web of Conferences. International Scientific and Practical Conference “Environmental Risks and Safety in Mechanical Engineering” (ERSME-2023). Rostov-on-Don: 05039.

Korobeynikova O.M., Kuzmina E.V., Korobeynikov D.A., Popova L.V., Glazova M.V. 2021. Innovations in the retail payment market of Russia. Socio-economic Systems: Paradigms for the Future. Springer International Publishing: 421–430.


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Published

2025-06-30

How to Cite

Korobeynikova, O. M., Dugina, T. A., & Gorbacheva, A. S. (2025). The State and Development Trends of the Oil and Gas Industry in Russia. Economics. Information Technologies, 52(2), 306-317. https://doi.org/10.52575/2687-0932-2025-52-2-306-317

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Section

SECTORAL MARKETS AND MARKET INFRASTRUCTURE

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