Template-Type: ReDIF-Paper 1.0
Author-Name:Bobylev Yuri
Author-Name-First: Yuri 
Author-Name-Last:Bobylev 
Author-Workplace-Name: Gaidar Institute for Economic Policy 
Title: Oil and Gas Sector in Russia in 2015
Abstract: Oil and gas industry remains the basic sector of Russian economy playing the key role in shaping the state budget revenues and the country’s trade balance. In 2015, the oil sector’s development was marked by positive dynamics. Due to investments made in the previous years, the crude oil production in Russia has reached peak levels since 1990 and crude oil export hit all time maximum. Restructuring of the oil sector taxation system has been launched. The reform envisages significant reduction of the economic role of export duties. Low global crude oil prices together with financial and technological sanctions imposed on Russia have hampered the development of this sector.
Classification-JEL: L71, L72
Keywords:  Russian economy, oil and gas sector, oil production, oil prices
Creation-Date: 2016
Revision-Date:2016
Length: 9 pages
File-URL: https://www.iep.ru/files/RePEc/gai/ppaper/ppaper-2016-267.pdf
File-Format: application/pdf
File-Function: Revised version, 2016
Handle: RePEc:gai:ppaper:ppaper-2016-267