- Consulting Editors
- Modernization and the Russian Economy: Three Hundred Years of Catching Up
- Command Economy and its Legacy
- Russia’s Economic Transformation
- Transformational Recession
- Growth Trends in Russia After 1998
- Institutional Performance
- Corporate Governance in Russia
- The Russian Tax System
- The Unofficial Economy in Russia
- Russian Corruption
- Russia’s Dependence on Resources
- The Russian Oil Sector
- The Russian Natural Gas Sector
- The Russian Electricity Market: Variants of Development
- The Economics of Mineral Resources
- The Challenge of Reforming Environmental Regulation in Russia
- Economics of the Military-Industrial Complex
- Science, High-Tech Industries, and Innovation
- Blame the Switchman? Russian Railways Restructuring After Ten Years
- Russian Agriculture and Transition
- Russian Banking as an Active Volcano
- Financial and Credit Markets
- Russian Trade and Foreign Direct Investment Policy at the Crossroads
- Economic Geography of Russia
- Russian Fiscal Federalism: Impact of Political and Fiscal (De)centralization
- Regional Challenges: the Case of Siberia
- Labor Market Adjustment: is Russia Different?
- Higher Education Reform and Access to College in Russia
- Russia’s Health Care System: Difficult Path of Reform
- Poverty and Inequality in Russia
- Recent Demographic Developments in the Russian Federation
Abstract and Keywords
This chapter analyzes the development of the Russian oil sector with a particular view to dynamics between resource base, institutions and regulations, and the industry structure as it has evolved since the late Soviet period. The path dependence in the development of the Russian oil sector is evident and constrains further reforms. This concerns the technological structure and fixed assets formed under central planning that still limit the applicability of market mechanisms. Today’s industry structure also has its roots in the organizations of the Soviet oil industry. The ownership pattern and modes of operation of the oil companies were, however, largely formed in the second half of the 1990s, a period characterized by a very weak state and the absence of a resource management policy. The present structure and policies do not match developments in the resource base, something that will constitute an increasing problem in the years ahead.
Arild Moe is the Deputy Director and Senior Research Fellow at Fridtjof Nansen Institute in Norway. He specializes in studies of Russian energy, resource politics and the Arctic.
Valeriy A. Kryukov is the Deputy Director of the Institute of Economics and Industrial Engineering in the Siberian Division of the Russian Academy of Sciences in Novosibirsk, and a Professor of Economics at the National Research University Higher School of Economics in Moscow. His research interests focus on the institutional dynamics of the oil and gas sectors in Russia.
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