Financial Risks of Russian Oil Companies in Conditions of Volatility of Global Oil Prices

Chikunov, Sergey; Ponkratov, Vadim V.; Sokolov, Alexander A.; Pozdnyaev, Andrey S.; Osinovskaya, Irina Vladimirovna; Ivleva, Marina I.

doi:10.32479/ijeep.7358

Cited by 13 publications

(12 citation statements)

References 14 publications

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“…Russian coal industry, which is mainly focused on increasing coal export, should review the development strategy of the whole field. The decline in coal exports and falling prices are inevitable, and this can occur very soon (Chikunov et al, 2019). Categorical reluctance to see this objective situation can lead to large-scale negative economic and social consequences, especially in the regions (for example, in Kuzbass) whose economy is focused on extraction and export of coal.…”

Section: Resultsmentioning

confidence: 99%

Cross-Country Analysis of the Comparative Efficiency of Government Support for Coal and Lignite Production

Karaev

Ponkratov

Masterov

et al. 2020

IJEEP

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In this research, we applied the DEA method (data envelopment analysis) for a cross-country analysis of the comparative efficiency of government support for coal production in eight countries: The leading producers of coal and lignite, three OECD countries with developed economies (the USA, Germany, and Australia), four BRICS countries with developing economies and emerging markets (China, India, Russia, and South Africa), and Indonesia -the largest producer of coal and lignite in Southeast Asia from 2013 to 2018. An extended version of the DEA method allowed us to evaluate not only technicalities, but also price efficiency of budget support for natural gas production in the considered countries. The data for the empirical model characterizing the volume of financial support to oil producers through budgetary transfers and tax expenditures was taken from the OECD statistical base. The obtained results indicate low efficiency of state support for coal and lignite production in Russia, the industry that is responsible for the largest generation and emission of greenhouse gases. In accordance with international obligations, Russia should solve this problem. To achieve this goal, the government should legislatively limit the funding of coal projects and exclude coal projects from the sphere of credit and export agencies, development banks, and state banks.

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Section: Resultsmentioning

confidence: 99%

Cross-Country Analysis of the Comparative Efficiency of Government Support for Coal and Lignite Production

Karaev

Ponkratov

Masterov

et al. 2020

IJEEP

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“…This, in turn, allows for analysis and monitoring of the complex and uncertain environment of the oil industry and energy market, changes in crude oil prices, which are subject to many significant and influential trends, and events characterized by probabilistic and high levels of uncertainty in the current conditions [77]. Justification of forecast values of supply and demand for crude oil makes it possible to increase readiness of Russian oil companies and the government, and provides them with various options of future events and allows them to react to those events adequately, helping them to develop an effective strategy of preventive measures to reduce the impact of oil price volatility on the Russian economy [78,79].…”

Section: Discussion: Macro and Micro Dynamics Of Open Innovation In The Covid 19 Pandemicmentioning

confidence: 99%

Predictive Scenarios of the Russian Oil Industry; with a Discussion on Macro and Micro Dynamics of Open Innovation in the COVID 19 Pandemic

Ponkratov

Kuznetsov

Bashkirova

et al. 2020

Journal of Open Innovation: Technology, Market, and Complexity

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The decrease in the economic activity level around the world due to the COVID-19 pandemic spread has led to a sharp decrease in the crude oil price and provoked an oil war outbreak in the global energy market. The current situation has provoked the need for a total decrease in the crude oil production in the world. Considering that Russia is one of the main oil exporters on the world market, the need to determine the supply and demand levels for Russian oil is becoming relevant. The aim of the paper is to model predictive scenarios of Russian oil industry development, considering the specifics of the current economic environment given the COVID-19 pandemic. The multifactor correlation modeling method was used to form the system of indicators determining the level of demand and supply for Russian oil used and the total level of their influence. The functions determine the probability of implementing various scenarios of oil industry development depending on the predicted values of demand and supply. The three-sigma rule and the fuzzy sets method were used to estimate three scenarios of oil industry development for 2020–2021. Changes in revenues of the industry under the influence of forecast indicators of supply and demand for oil have been assessed and the probability of implementation of each of the scenarios has been reasoned. The results obtained are of a practical nature and can be used by government agencies, financial intermediaries, and scientists to diagnose Russian oil industry development. The results will be useful for oil companies to develop a strategy of open innovations for further design of the scientific information field for the effective functioning of the industry in complete uncertainty conditions.

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“…The supply (production) factors such as natural, labor, financial resources of the region (Megits et al, 2020;Chikunov et al, 2019).…”

Section: Methodsmentioning

confidence: 99%

Impact of peat industry development on regional sustainability

Semin

2021

JEECAR

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The study aimed to substantiate the nature of the interaction between the economic efficiency of the peat industry and the sustainability of the region on the example of the Khanty-Mansi Autonomous Area (KhMAA) of Russia. Based on the development indicators of the districts of KhMAA for 2017-2020, the factors characterizing the components of sustainable regional development were determined using the principal components’ method. Using the fuzzy sets’ method, the values, levels of the factors, and the integral indicator of sustainable development were calculated, and the realized and unrealized potential of peat industry development in the context of the districts of the study area were determined. The causal relationships between indicators of regional sustainable development and peat industry potential, and the nature of dependence between the indicators, are argued. The regional development prospects were revealed through the peat industry development based on the regression models built by calculating the elasticity coefficients.

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Financial Risks of Russian Oil Companies in Conditions of Volatility of Global Oil Prices

Cited by 13 publications

References 14 publications

Cross-Country Analysis of the Comparative Efficiency of Government Support for Coal and Lignite Production

Cross-Country Analysis of the Comparative Efficiency of Government Support for Coal and Lignite Production

Predictive Scenarios of the Russian Oil Industry; with a Discussion on Macro and Micro Dynamics of Open Innovation in the COVID 19 Pandemic

Impact of peat industry development on regional sustainability

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