Valeriy Kryukov

Russia's Oil Industry: Risk Aversion in a Risk-Prone Environment

A Russian economist and a Norwegian political scientist, both long-term observers of the Russian energy industries, discuss the outlook for the Russian oil industry. The focus is on the relationship between reserves and industry strategies, and is presented from the perspective of an oil-producing enterprise. The authors analyze trends in reserve exploration and development and compare them with oil-industry investment patterns. They discuss differences and similarities among companies, as well as implications for future output. Also examined in the paper are factors inhibiting long-term private investment in the oil industry (including factors specific to particular companies) as well as the relevant policies of the government. Journal of Economic Literature, Classification Numbers: D21, H25, L71, Q48. 8 figures, 1 table, 40 references.

Joint Management of Oil and Gas Resources in Russia

A Norwegian political scientist and Russian advisor to regional authorities in West Siberia, both long-time analysts of the Russian oil and gas industries, examine the role played by hydrocarbon resources in the evolving power-sharing relationship between Russias regions and the Russian Federation Government in Moscow. A specific focus is on the countrys leading oil- and gas-producing regions—the Khanty-Mansiysk and Yamal-Nenets autonomous okrugs, respectively, with coverage extending to the fall of 1998. Implications of changing power relations between the regions and new trans-regional oil and gas companies are investigated as well. Journal of Economic Literature, Classification Numbers: H77, L71, Q40. 41 references

Resource Rent from the Oil and Gas Sector and the Russian Economy

Three specialists on Russias oil and gas sector examine the process whereby resource rent has been extracted from oil and gas production and distributed within the Soviet (and later Russian) econo...

Distribution of Refined Petroleum Products in Russia

A Western specialist on Russias oil and gas industries, together with two Russian analysts, examines the development of the distribution system for refined petroleum products in post-Soviet Russia. Such “downstream” activities, oriented largely toward the domestic market, are an increasingly important component of the growth strategies of Russias vertically integrated oil companies, in attempting to upgrade their refined-products distribution capacity and extend market share beyond existing service areas. Coverage also extends to actions of regional administrations and trading companies in a “virtual” economy characterized by arrears, offsets, and barter. Specific examples are derived from Novosibirsk Oblast in 1998—a typical Russian region. Journal of Economic Literature. Classification Numbers: L22, L71, Q41. 3 figures, 2 tables, 34 references:

A Modern Approach to the Elaboration and Selection of Strategic Alternatives for Resource Regions

For many countries and regions (both in Russia and abroad), natural resources are the crucial factor for socio-economic development. The role and significance of natural resources in the economy of different areas substantially depend on the institutional environment, including the resource regime. Today, we have a qualitative complication of conditions for mineral resources exploitation, we start to develop new, non-traditional types of resources, which haven’t been available (or demanded) earlier for the economic and technological reasons. The changes in the characteristics of natural objects, as well as the increasing of uncertainty in the resource sector, actualize the search for alternatives of the development of resource-type regions and for the elaboration of appropriate strategies. In new conditions of resource regions, it is necessary to place emphasis on the aspects of expanded specific understanding of inclusiveness. It implies the possibility of active participation of regional authorities in the management and regulation of the mineral complex, as well as their involvement in the development of the association of a wide range of communities. These communities consist of the organizations representing the interests of indigenous peoples as well as professional communities: industry associations, environmental organizations, representatives of the innovation industry. Modern approaches to the elaboration of strategic directions for the resource regions development (primarily based on the development of the mineral industry) should be based on sustainable development principles, the principles of inclusiveness and the need for innovations. As a result of the convergence of these characteristics, a new socio-economic concept is formed. This concept can be defined as the harmonious development that is extremely important for the Russian regions. The proposed approach can be used for the elaboration of strategic alternatives of the development of resource regions.