Template-Type: ReDIF-Article 1.0 Author-Name:Yuriy Bobylev Author-Name-First:Yuriy Author-Name-Last: Bobylev Author-Workplace-Name: Gaidar Institute for Economic Policy Title: THE OIL AND GAS SECTOR�S DEVELOPMENT Abstract: In 2014, Russia�s crude oil output hit its record high since 1990. At the same time, the growth rates of oil produc- tion and oil exports are displaying an obvious slowdown. Besides, some additional negative factors have emerged that impose still more constraints of the oil sector�s further development: the plummeting world prices for oil and the fi nancial and technological sanctions introduced against Russia. Since 2015, the oil sector�s taxation system has been undergoing structural transformations designed to signifi cantly play down the economic role of export duties. Classification-JEL: P24, E52 Keywords: OIL & GAS SECTOR Journal: Russian Economic Developments Year: 2015 Issue: 4 Month: April Pages: 32-36 File-URL: http://www.iep.ru/files/RePEc/gai/recdev/489Bobylev.pdf File-Format: Application/pdf Handle: RePEc:gai:recdev:489