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
Abstract: The world market in 2012 was characterized by the persistence of high global oil and natural gas prices. The average price of Russian Urals crude oil on the European market, according to preliminary estimates, amounted to $ 110.3 per barrel, and that of Russian natural gas – to $ 418,2 per 1,000 m?, which translated into high profits of Russian oil and gas companies and considerable revenues of the state budget. Oil production in Russia in 2012 will amount to approximately 516m tons, which is the historic high of the last twenty-two years. Some additional tax measures designed to stimulate the development of new hydrocarbon deposits have been introduced. 
Classification-JEL: L71, O13, Q30
Keywords: Oil Sector,  Gas Sector
Year: 2013
Issue: 1
Month: January
Pages: 59-63
Journal:Russian Economic Developments
File-URL: http://www.iep.ru/files/RePEc/gai/recdev/58Bobylev.pdf
File-Format: Application/pdf
Handle: RePEc:gai:recdev:58