Problems of Economics and Management of Oil and Gas Complex

The author of the present article proposes an innovative methodology to be applied for development of the public investment program for a long period of time – up to 33–40 years. The program should consist of tight ("slotted") series of investment projects of any level and spheres of socio-economic public activity, differing only by strict, pre-established by the state, numerical values of a limited number of economic efficiency indicators of public investments. They should be in a harmoniously balanced relationship with the national parameter (discount rate), approved by the high state body that controls the RF national economy which characterizes the minimum requirements of the society to the effectiveness of investment projects. The numerical value of the national parameter should be determined by the author's method with account of prediction of the country’s economic and social development, including the economic growth rates.

Key words: macroeconomics; state; investments; efficiency; balance; the national parameter minimum public efficiency of investments; programs; projects; regulation.

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UDC 622.276.003

DOES THE GLOBAL OIL BUSINESS NEED THE RUSSIAN OIL BENCHMARK

OR COULD THE URALS BE THE NEW REPRESENTATIVE INDICATOR

FOR THE WORLD OIL MARKET? (p. 13)

Pavel Borisovich Katyukha

Gubkin Russian State University of Oil and Gas

65, bld. 1, Leninsky prosp., 119991, Moscow, Russian Federation,

e-mail: katioukha.p@gubkin.ru

This article analyzes the current situation at the world oil market and discussed the problems of launching of a new marker grade of the Urals crude oil. The author reveals the necessity of formation of a new liquid financial instrument through launching of deliverable futures contract for the Urals in conditions of the configuration change of the world oil market and competition increase between the two global benchmarks – WTI and Brent.

Key words: Stock Exchange; benchmark; Stock Exchange indicator; speculators; hedgers; wet and paper crude oil; basis of delivery; futures; market makers; sweet and sour crude oil; forward market; derivatives.

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UDC 332:143

TRENDS AND SPECIFIC FEATURES

OF THE KOMI REPUBLIC OIL AND GAS SECTOR (p. 19)

Nikita Pavlovich Antoshkin

Ukhta State Technical University

13, Pervomaiskaya str., 169300, Ukhta, Russian Federation,

e-mail: yashchik-92@mail.ru

The current stage of the RF economy development is characterized by the direct dependence of the growth of the gross domestic product on the positive dynamics of the fuel-energy complex indicators. The article presents the analytical review of oil and gas industry functioning in the Republic of Komi. The contribution of the кepublic in the development of the fuel-energy industry in Russia is analyzed, the key operational indicators with differentiation by the existing businesses and activities are presented and analyzed.

The relevance of the article is caused by the weak development of the assessment of oil and gas complexes potential of individual subjects of Russia: today oil and gas complexes on the local level, as a rule, are considered either in the context of oil- and gas-bearing provinces, bringing together several regions, or only as a specific type of common activity (production, transportation and processing of oil and gas) without taking into account the interaction of activities among themselves within the boundaries of a single subject of the Russian Federation.. This, in turn, greatly complicates the assessment of the investment potential of the given region, pays negative impact on the definition of the problems and prospects of its energy sector development.

Key words: oil and gas industry; oil production; gas production; oil refining; gas processing; pipeline transportation; the main pipeline; the regional economy; associated gas; shipping work.

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UDC 622.323+338.51

ANALYSIS OF VOLUME AND PRICE DYNAMICS

OF BRENT AND WTI ONE-MONTH CONTRACTS (p. 28)

Anna Alexeevna Aronova,

Ekaterina Nikolaevna Konovalenko

Gubkin Russian State University of Oil and Gas

65, bld. 1, Leninsky prosp., 119991, Moscow, Russian Federation,

e-mail: anna.aronova19@mail.ru, katya.konovalenko@gmail.com

The article analyzes oil market fluctuations of Brent and WTI prices since 1989 up to the present day, their dependence on the one-month contracts volume and the probable causes of deviations from the trend. The correlation chart based on the figures of NYMEX and ICE Exchanges is plotted and the consequences of the gap increase between the "physical" and “paper” oil trade volumes are discussed.

Key words: Brent; WTI; oil prices; oil price dynamics; Brent and WTI one-month contracts; "paper" oil; "physical" oil NYMEX; ICE.

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UDC 338

ANALYSIS OF THE EXPERIENCE

OF IMPLEMENTATION OF RISK MANAGEMENT SYSTEMS OVER

INVESTMENT PROJECTS IN THE RUSSIAN INDUSTRIAL COMPANIES

(BY THE EXAMPLE OF PJSC "GAZPROM") (p. 31)

Yana Sergeevna Krukhmaleva

PJSC "Gazprom"

16, Nametkin str., 117420, Moscow, Russian Federation,

e-mail: yana_kruhmaleva@mail.ru

Feasibility of implementation of a risk management system in Russian industrial companies is analyzed. The main problems which arise when developing and implementing systems of management of investment risk projects in PJSC "Gazprom" are discussed. Brief description of the Company's corporate standard "The system of management of investment projects and programs". The method applied to analyze the risks of investment projects implementation by PJSC "Gazprom", realized by projects financing methods is given. The standard is developed together with LLC "NIIgazekonomika" – a corporate Research Institute of Economics and Organization of Management in Gas Industry and includes the following: risks classification, basic principles and methodological approach to risks assessment, risks ranking procedure, tools, used to account the mutual risks of investment projects implementation. The implemented project management system and project risks within the frames of investment projects implementation based on project financing in PJSC "Gazprom" is considered, the main approaches, methods and results obtained during the method application are described.

Key words: risks; types of risks; classification of risks; risks management in a company; risk reduction; project financing.

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UDC 338.45.01

RESEARCH OF THE FACTORS TO BE ACCOUNTED

WHEN APPRAISING WORK PLACES IN OIL AND GAS COMPANIES (p. 40)

Lalita Musaevna Idigova

Chechen State University

32, A. Sheripov str., 364051, Grozny, the Chechen Republic, Russian Federation,

e-mail: L.idigova@mail.ru

Musa Mukhamedovich Dadashov,

Mansour-Hussein Yaragievich Muslimov

Academician M.D. Millionshchikov Grozny State Petroleum Technological University

14/53, Avtorkhanov str., 364902, Grozny, the Chechen Republic, Russian Federation

The article analyzes the systematization of the factors to be accounted when certifying work places in oil and gas companies. The authors of the article noted that labor organization in the oil and gas complex in market conditions should be based on the following principles: balance of labor demand and supply; all-round reduction in working time; balanced development of labor productivity growth; provision of labor depth and attractiveness; guarantee the right to provide good working conditions to every worker that meet safety and hygiene requirements; the right to rest; remuneration in accordance with the quantity, quality and efficiency of no less than the guaranteed social standards; guarantee of equal opportunities for promotion with regard to the qualification, experience, training and retraining. When rationalizing work places in oil and gas producing companies, it is advisable to use some factor analysis involving the system assessment of the factors’ effect on the value of the resulting indicators. In practice, based on the labor organization experience, to improve the of, the above-mentioned analysis can be deterministic and stochastic; direct and reverse; single- and multistage; static and dynamic. When certifying working places, similar in the equipment and technology at the sites of oil and gas production it is recommended to create reference (model) working places with advanced equipment, technology, production and labor organization, safe working conditions and a high level of occupational safety.

Key words: oil and gas producing company; work places; certification of personnel; principles of labor organization in the oil and gas industry.

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UDC 336.647

STRATEGIES OF RESOURCE RISK-MANAGEMENT

FOR SMALL INNOVATIVE ENTERPRISES (p. 44)

Victor Valerievich Krakovich

National Research University "Higher School of Economics"

3, Kantemirovskaya str., 194100, Saint-Petersburg, Russian Federation,

e-mail: victor.krakovich@gmail.com

The paper considers the basic strategies of resource risk-management in view of their application in small innovative enterprises (SIE). The author analyzes the conditions of the most efficient use of each of the strategies with account of innovation activity specifics. The conclusion is made that limited resources require careful application of risk management mechanisms, being the key factor of SIE viability.

Key words: small innovative enterprises; risk-management; innovations.

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UDC 658.3

THE DEFINITION OF "PAIN" FACTORS INFLUENCING THE STAFF TURNOVER

IN THE OIL AND GAS SECTOR COMPANIES (p. 49)

Nargiz Faridovna Teregulova

Gubkin Russian State University of Oil and Gas

65, bld. 1, Leninsky prosp., 119991, Moscow, Russian Federation,

e-mail: teregulova.nargiz@ya.ru

The causes of the staff turnover as a phenomenon became widely spread particularly in times of the economic crisis, which has jeopardized the survival of many companies.

Staff turnover is a multi-aspect problem which in this respect cannot be a one-time (one moment) phenomenon, as it has its peaks of rise and decline in terms of an occurrence scale.

The article raises important problems relating to the causes (factors) of staff turnover and conducts their systematization by different blocks. A method (approach) to define the "pain factors" influencing the activities of an enterprise is developed.

Key words: personnel management; labor turnover; employment; unemployment; staff cut down.

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UDC 622.32+658.5

ANALYSIS OF THE IMPACT OF ECONOMIC DEVELOPMENT

ON CHINA'S PRIMARY ENERGY CONSUMPTION (p. 55)

Ren Jiajia

Gubkin Russian State University of Oil and Gas

65, bld. 1, Leninsky prosp., Moscow, 119991, Russian Federation,

e-mail: 89253298702@mail.ru

This article analyzes the impact of economic growth on the consumption of primary energy sources in the Chinese Peoples Republic as the main factor which has the greatest influence on the model of energy consumption in China.

The article hypothesizes about the uneven impact of economic growth on energy consumption in China. Based on the comparative analysis, two conditional periods are identified in the article, which have significant differences in the ratio of the rate of economic wealth production and consumption of hydrocarbons.

Together with the presented statistical data, the author predicts a further increase of energy efficiency of China's economy and makes an important conclusion about the potential decrease of world oil prices on China's economy.

Key words: energy efficiency; China; energy conservation; analysis; effect of economic development of China; consumption of primary energy sources; dynamics of industrial production; GDP; evolution of China's economic growth model.

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JSC "ALL-RUSSIAN SCIENTIFIC-RESEARCH INSTITUTE OF ORGANIZATION, MANAGEMENT AND ECONOMICS OF OIL AND GAS INDUSTRY"

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