Problems of Economics and Management of Oil and Gas Complex

Alexey Mikhaylovich Mastepanov, Dr. of Economic Sci., Professor of National University of Oil and Gas "Gubkin University", Member of the Russian Academy of Natural Sciences, Head of the Analytical Center of the energy policy and energy security of OGRI RAS, Member of the Board of Directors of the Institute for Energy Strategy

Oil and Gas Research Institute of Russian Academy of Sciences (OGRI RAS)

3, Gubkin str., Moscow, 119333, Russian Federation,

e-mail: amastepanov@mail.ru

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UDC 331 DOI: 10.33285/1999-6942-2020-4(184)-7-15

NATIONAL UNIVERSITY OF OIL AND GAS "GUBKIN UNIVERSITY"
CELEBRATES ITS 90^TH ANNIVERSARY. TRUSTEE ENDOWMENT FUND.
EXPERIENCE OF NATIONAL UNIVERSITY OF OIL AND GAS
"GUBKIN UNIVERSITY" (p. 7)

Olga Vladimirovna Budzinskaya, Cand. of economic sci., assistant professor,

Viktor Georgievich Martynov, Dr. of economic sci., Professor, Rector,

Viktor Solomonovich Sheynbaum, Cand. of technic sci., Professor

National University of Oil and Gas "Gubkin University"

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

e-mail: budzinskaya@bk.ru, v.martynov@gubkin.ru, shvs@gubkin.ru

For higher education school of Russia, as well as of other countries of the world, the topic of universities’ financing sources diversification is one of the most relevant ones. In autumn of 1991, on the initiative of the Rector of the State Academy of Oil and Gas named after I.M. Gubkin, then called the Gubkin University, an organizing committee was established to prepare the necessary documents and to decide on the establishment of a Board of Trustees and a Board of Trustees Fund in the Academy. The organizing committee included heads of the largest enterprises of the country’s oil and gas industry and public associations, representatives of the specialized ministry and the State Higher Education Committee of the USSR. On December 4, these decisions were taken, and the Fund of Trustees, created on their basis, became one of the first, if not the first, in the High Education School of Russia that worked according to this scheme of the endowment-fund. The paper, based on its activity experience, discusses the advantages and disadvantages of this scheme in relation to the domestic economy reality.

Keywords: Fund of trustees of the university; endowment-fund; fund of the target capital; assets of the fund; founders of fund; market economy.

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UDC 65.271 DOI: 10.33285/1999-6942-2020-4(184)-16-19

RISKS OF OIL AND GAS PROJECTS AT DIFFERENT STAGES
OF HYDROCARBON RESOURCES EXPLORATION AND EXTRACTION (p. 16)

Alexander Fedorovich Andreev, Dr. of economic sci., Professor,

Angelina Alexandrovna Kalamkarova, Cand. of economic sci., senior lecturer,

Ekaterina Valerievna Burykina, senior lecturer

National University of Oil and Gas "Gubkin University"

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

e-mail: pro_men@list.ru

The paper discusses the risks of oil and gas projects at different stages of hydrocarbon resources exploration and extraction, various methods of risk accounting during projecting, including the application of the entropy method. The paper also discusses some approaches to risks categorizing and the consequences of their manifestation at the pre-investment stage of the project.

Keywords: risks; stage of study; hydrocarbons; pre-investment phase of the project; risk assessment; entropy.

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UDC 620.9+621.311.2 DOI: 10.33285/1999-6942-2020-4(184)-20-25

RENEWABLE ENERGY RESOURCES − BASED ENERGY PROJECTS:
ECONOMIC SIGNIFICANCE AND DEVELOPMENT (p. 20)

Amira Anvarovna Daudova, Cand. of economic sci., associate professor, Department of Production Management,

Irina Nikolaevna Volodina, Cand. of economic sci., associate professor, Department of Production Management,

Olga Leonidovna Zakharova, senior researcher, Department of Production Management,

Svetlana Mikhailovna Avdeeva, Associate of Department of Labor and Personnel Management

National University of Oil and Gas "Gubkin University"

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

e-mail: Amira.rgu@mail.ru, 89164111560@mail.ru, Вaburinao@bk.ru, svetahere@mail.ru

The subject of the study is to assess the economic significance and development potential of energy projects in the Russian Federation on the basis of renewable energy resources (RER). Various energy sources consisting of solar panels, wind generators, tidal/wave power stations, small hydro-generation facilities, etc. can be used as projects for creating RER capacities.

The goals of the study are as follows:

− to substantiate the possibility of developing energy projects based on renewable energy resources, including small hydro-generation of the country regions with poorly developed energy infrastructure, geographically remote from the centers and to assess their economic importance;

− to describe the mechanism of the state support for new alternative clean energy production, such as green tariffs of the supplier, construction of own renewable energy resources facilities by enterprises, the conclusion of contracts with remote renewable energy resources generation, such as PPA (Power Purchase Agreement) and others.

To write the article, methods of economic, statistical analysis, empirical, theoretical knowledge, general logical methods and research techniques were used.

The prospects for the development of electrical energy alternative sources, namely, renewable energy, are investigated. The use of alternative energy sources is an economically viable alternative to traditional sources of electrical energy in the long term, especially for those areas where it is difficult to get connected to a centralized energy network. Creation of electric energy facilities based on renewable energy resources (RER) plays a very important role and becomes especially relevant when providing power supply to energy-deficient and remote areas located far from the central energy supply system.

Alternative energy makes it possible to obtain a significant economic effect both in the form of energy consumption reduction in physical terms, and in fact energy costs reduction, including the development of alternative energy − a trend of the future, which is very popular because of the desire to improve the environmental situation in the world.

Keywords: energy project; renewable energy resources; state support; economic importance; micro-generation facility.

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UDC 338.22 DOI: 10.33285/1999-6942-2020-4(184)-26-29

DEVELOPMENT OF THE METHODS APPLIED
FOR BUSINESS COST EVALUATION (p. 26)

Valentina Dmitrievna Zubareva, Dr. of economic sci., Professor,

Alexander Evgenievich Gradus, postgraduate student,

O.A. Martynova, senior lecturer

National University of Oil and Gas "Gubkin University"

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

e-mail: alexandergradus5@gmail.com, fin-men1327@yandex.ru

The article presents the main results of research work carried out to analyze the evolution of business valuation methods. The study considers not only the evolution itself, but also the reasons for the transformation of cost estimation methods.

Keywords: results of research work; economically added value; modern methods of business cost evaluation; oil and gas business; EVA.

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UDC [622.276+622.279].003(075) DOI: 10.33285/1999-6942-2020-4(184)-30-36

RUSSIA IN THE WORLD MARKET FOR LIQUID NATURAL GAS (LNG):
HISTORY OF FORMATION AND DEVELOPMENT STRATEGIES (p. 30)

Alexander Fedorovich Andreev, Dr. of economic sci., Professor,

Ekaterina Valerievna Burykina, senior lecturer,

Alina Khamzatovna Ozdoeva, Cand. of economic sci., associate professor,

Aset Bashirovna Tomova, Cand. of economic sci., associate professor

National University of Oil and Gas "Gubkin University"

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

e-mail: pro_men@list.ru, burykina.e@gubkin.ru, 4305@bk.ru, asettom@gmail.com

The paper substantiates the necessity of developing LNG projects in Russia in conditions of fierce competition not only with American LNG, but also with Russian pipeline (PJSC “Gazprom”) gas in Europe, meeting gas demand decrease in Europe as a result of the alternative energy development. The historical stages of the formation and development of the liquefied natural gas market in the world and the characteristics of large LNG projects in Russia are presented. The mechanisms of price formation for liquefied natural gas based on the methodology for determining prices applying the "net back" method using a model for assessing the net present value at the stages of production, transportation and LNG use are considered. Some specific features of production, consumption and storage of liquefied natural gas, the advantages of its transportation over pipeline gas are presented. It is noted that the technological chain of LNG production and consumption requires a high degree of interaction between suppliers and consumers. The paper analyzes the problems of financing LNG projects. The prospects for the development of the liquefied natural gas market, the place and role of Russia in the global LNG market are determined.

Keywords: liquefied natural gas; LNG project; LNG technology; LNG process chain; LNG market; world gas market; LNG pricing mechanisms; LNG export; LNG import; project financing.

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UDC 658:338.4 DOI: 10.33285/1999-6942-2020-4(184)-37-41

MINING RENT AS A FACTOR DETERMINING
THE RUSSIAN ECONOMY DEVELOPMENT (p. 37)

Evgeny Sergeevich Melekhin, Dr. of economic sci., Professor, Department of Economics of Oil and Gas Industry,

Anastasiya Alexeevna Pelmeneva, Cand. of economic sci., Head of the Department of Economics of Oil and Gas Industry

National University of Oil and Gas "Gubkin University"

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

e-mail: esmelekhin@yandex.ru, anastasia_plmn@mail.ru

The paper presents the formation of the state tax policy on the basis of the rent approach. The types of mining rent arising during the development of oil fields are considered. The existing method of adjusting the tax rate on minerals extraction in the part of oil is analyzed. Proposals for updating the rental policy of the state are given.

Keywords: tax policy; mining rent; mineral extraction tax; formation of the mineral extraction tax (MET) rate.

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UDC 622.276.1 DOI: 10.33285/1999-6942-2020-4(184)-42-46

MAXIMIZATION OF OIL AND GAS PROJECTS VALUE (p. 42)

Avedik Sergeevich Sarkisov, Dr. of economic sci., Professor,

Lyubov Nikolaevna Otvagina, Cand. of economic sci., associate professor

National University of Oil and Gas "Gubkin University"

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

e-mail: saras@rambler.ru

The paper considers the problem of maximization of oil and gas projects value. The proposed approach is based on the choice of the optimal project activities duration. To stimulate project participants to follow the optimal activities duration, it is proposed to use a system of penalties and bonuses. This approach use allows coordination of participants’ interests, as well as increase of a project financial efficiency.

Keywords: oil and gas projects; value maximization; participants of a project; optimum activity duration; penalties and bonuses.

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UDC 331.57 DOI: 10.33285/1999-6942-2020-4(184)-47-51

GROWTH OF THE COUNTRY’S ECONOMY AND
PROVISION OF THE POPULATION EMPLOYMENT AS A MEANS
OF ACHIEVING SUSTAINABLE DEVELOPMENT (p. 47)

Svetlana Vasilyevna Kibovskaya, Cand. of economic sci., Associate Professor,

Alexander Eduardovich Slavinsky, Cand. of economic sci., Associate Professor,

Anton Aleksandrovich Tumanov, Assistant

National University of Oil and Gas "Gubkin University"

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

e-mail: kibsv@mail.ru, slavinskiy.a@gubkin.ru, tumanov.a@gubkin.ru

The paper assesses the achievement of the UN Sustainable Development Goals (UN SDG) in the state policy of the Russian Federation until 2024 in the field of social-economic development of the country and overviews the indicators that prove the achievement of decent work and economic growth in 2019 in UN SDG Index.

Keyword: Sustainable Development Goals (SDG); SDG Index according to SDG; SDG 8; decent work and economic growth.

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UDC 658:338.4 DOI: 10.33285/1999-6942-2020-4(184)-52-56

IMPACT OF THE IMPORT SUBSTITUTION PROGRAM
ON INNOVATIVE PROCESSES IN THE RUSSIAN
OIL AND GAS INDUSTRY (p. 52)

Elena Vitalievna Morozova, Cand.of economic sci., associate professor, Department of Economics of Oil and Gas Industry,

Irina Igorevna Gryzova, senior lecturer, Department of Economics of Oil and Gas Industry,

Elena Vladimirovna Volyanskaya, senior lecturer, Department of Economics of Oil and Gas Industry

National University of Oil and Gas "Gubkin University"

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

e-mail: morozova.e@gubkin.ru, gryzova-irina@mail.ru, raz-otgruz@yandex.ru

The paper analyzes the impact of import substitution program on innovation processes in the Russian Federation and in the oil and gas industry in particular. A set of measures to reduce the dependence of the Russian fuel and energy sector on import is considered, and critically important technological trends in the industry that require special attention are determined. The dynamics of innovation activity indicators in Russia are analyzed, taking into account the measures and the efforts of the state and business in the framework of the import substitution program implementation.

Keywords: sanctions; import substitution program; import of equipment and technologies; R&D expenditures; indicators of innovation activity.

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UDC 658.152 DOI: 10.33285/1999-6942-2020-4(184)-57-61

EVALUATION OF THE EFFICIENCY
OF OIL AND GAS COMPANIES ACTIVITY (p. 57)

Pavel Fedorovich Tarasenko, senior lecturer,

Tatiana Victorovna Didenko, Cand. of economic sci., assistant professor,

Nana Iverievna Karapetashvili, assistant

National University of Oil and Gas "Gubkin University"

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

e-mail: tarasenko_pf@mail.ru

At the present stage, the problem of increasing the efficiency of enterprises is becoming increasingly important due to the fact that huge material and financial resources are involved in the production sphere.

The paper discusses the importance of assessing the effectiveness of an enterprise activity using the example of PJSC "Gazprom". Successful implementation of an enterprise development strategy provides for the implementation of not only productive, but also effective activities. In order to be successful for a long time, to survive and achieve its goals, the enterprise activities should be not only profitable but also effective.

The relevance of the topic lies in the fact that the main objectives of an enterprise activity are getting a profit, maintaining and building capital, thus ensuring the necessary level of the work efficiency.

Keywords: financial result; profit; profitability; efficiency; financial leverage.

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UDC 658.3 DOI: 10.33285/1999-6942-2020-4(184)-62-67

FORMATION AND MANAGEMENT OF PERSONNEL RESERVES
IN THE COMPANIES OF OIL AND GAS INDUSTRY (p. 62)

Irina Vladimirovna Gerasimova, Cand. of economic sci., associate professor,

Nargiz Faridovna Teregulova, senior lecturer,

Irina Fedorovna Simonova, Dr. of economic sciences, Professor, Head of Department

National University of Oil and Gas "Gubkin University"

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

e-mail: irina_gerasimova@list.ru

Companies are interested in the professional growth of their employees at all levels of management and contribute to it in every possible way, but there is a certain group of positions that is paid special attention to managers, who influence the work and development of the organization. To do this, modern companies create special systems of selection, training and rotation of future managers, the so-called reserve, considering this system as one of the strategically important tasks. Companies need a talent pool, first of all, to ensure continuity, preservation and transfer of the accumulated knowledge adapted to the organization. An efficiently functioning management reserve training system allows to reveal the employees with high potential for career growth and systematically and clearly to get them ready for filling managerial vacancies.

Keywords: personnel assessment; personnel reserves; competency model; individual development plan.

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UDC 339:004.9 DOI: 10.33285/1999-6942-2020-4(184)-68-73

INFORMATION AND COMMUNICATION TECHNOLOGIES
AS A MECHANISM OF SOCIAL-CULTURAL PROCESSES
OF MODERN SOCIAL DEVELOPMENT (p. 68)

Irina Yurievna Eremina, Dr. of economic. sci., Professor, Department of Labor and Personnel Management,

Natalia Borisovna Efimochkina, Cand. of social sci., associate professor

National University of Oil and Gas "Gubkin University"

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

e-mail: irinargung@mail.ru

The paper discusses the processes of modern communications, within the frames of which both quantitative and qualitative transformations occur. The latter are directly related to the changes of the social-psychological and social-cultural nature. Modern society, the life activity of which is based on qualitatively new forms of interaction, is a new type of society – a society based on knowledge and information, consumed globally. The global nature of public life – informatization – determines a new vector of social interactions – mass communications, the most important mechanism of which is the mass media.

Keywords: communication; digitalization; paradigm changes; techno-sphere; mass communications; mass media; actor; communicating subject.

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UDC 622.276.1 DOI: 10.33285/1999-6942-2020-4(184)-74-76

PROBLEMS OF OIL AND GAS PROJECTS MANAGEMENT
IN CONDITIONS OF LIMITED RESOURCES (p. 74)

Irina Nikolaevna Volodina, Cand. of economic sci., associate professor, Department of Production Management,

Olga Leonidovna Zakharova, senior lecturer, Department of Production Management,

Olga Alexandrovna Sergeeva, Cand. of economic sci., associate professor, Department of Production Management

National University of Oil and Gas "Gubkin University"

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

e-mail: 89164111560@mail.ru, Вaburinao@bk.ru

The paper analyzes the key problems of oil and gas projects management in conditions of limited resources. The authors of the paper systematized the specific features peculiar to oil and gas projects, which should be taken into account when managing them. Ignoring this specificity causes certain difficulties. The failure of implementation deadlines, going beyond budget limits, etc. are among them. Finally, this can cause the inefficiency of the entire project and significant monetary losses. The authors of the paper propose practical recommendations on solving some problems.

Keywords: oil and gas projects; project management; natural resources; management strategy; capital intensity; investment costs; risks; standardization.

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UDC 620.92 DOI: 10.33285/1999-6942-2020-4(184)-77-79

CLASSIFICATION OF ENERGY EFFICIENCY FACTORS
OF GAS CONSUMPTION BY INDUSTRIAL ENTERPRISES (p. 77)

Irina Arturovna Kirshina, Cand. of economic sci., associate professor, Department of Economics of Oil and Gas Industry,

Svetlana Evgenievna Fedorova, Cand. of economic sci., associate professor, Department of Economics of Oil and Gas Industry

National University of Oil and Gas "Gubkin University"

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

e-mail: i.kirshina@yandex.ru, lana49@list.ru

The paper analyzes the results of the researches performed by home experts in the field of determination and classification of energy efficiency factors of industrial enterprises.

Factors and conditions affecting the energy efficiency of natural gas consumption by industrial enterprises are determined and classified. Energy efficiency factors were systematized on the basis of 3 groups of industrial enterprises.

The interconnections of the factors’ classification components are determined and the key prerequisites for improving energy efficiency of industrial enterprises are identified.

Keywords: energy saving; energy efficiency; energy efficiency factors; natural gas; industrial enterprises.

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UDC 334.72 DOI: 10.33285/1999-6942-2020-4(184)-80-85

THE MAIN PROBLEMS OF OIL AND GAS SERVICE IN RUSSIA
AND THE WAYS OF THEIR SOLUTION (p. 80)

Sergei Ivanovich Petrushkin, Cand. of economic sci., associate professor,

Tatiana Vladimirovna Khlopova, Dr. of economic sci., professor

National University of Oil and Gas "Gubkin University"

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

e-mail: sipetr1@yandex.ru, hlopova1963@gmail.ru

The paper presents the main problems of oil and gas service in Russia and ways of their solution. Currently, the main problems of oil service companies are related to internal and external factors that affect their activities. They include: the imposition of sanctions by the USA and the EU; reduction of hydrocarbons production by the agreement with OPEC countries; the deterioration of the mineral resource base quality; digital technologies introduction into production; drawbacks of contractors bidding selection; modification of deadlines and payment of service contracts; lack of partnership and cooperation when implementing investment projects; growing demand for high-tech services by oil and gas companies; increasing competition in the domestic service market; lack of standards and regulations for equipment and technologies in the oilfield service; lagging in technical and technological development from foreign service companies, etc. The solution to these problems is primarily related to the formation of innovation and service clusters, the core of which will be oil and gas and oil service companies; development of project management that combines the interests of customers and contractors; establishment of partnerships and long-term cooperation between oil and gas and oil service companies; consolidation of oil service companies and their provision with integrated and high-tech services; localization of production of equipment and technologies used to provide oil service favours. Timely solution of these problems will ensure the dynamic development of oil and gas service in Russia.

Keywords: oil service; oil and gas and oil service companies; problems of oil and gas service; external and internal factors.

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UDC 339.9 DOI: 10.33285/1999-6942-2020-4(184)-86-90

ECONOMIC SECURITY IN THE ERA OF ECONOMIC GLOBALIZATION (p. 86)

Lyudmila Ilinichna Berezhnaya, Cand. of economic sci., associate professor, Department of Financial Management,

Leonid Vladimirovich Kolyadov, Cand. of economic sci., Professor, Head of the Department of Financial Management

National University of Oil and Gas "Gubkin University"

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

e-mail: berezhnayali@yandex.ru

A lot of approaches to estimation of a state economic security have been developed by now. The main common feature of these approaches is estimation of the economic security based on the internal showings-indicators. However, in modern conditions there exist a more important part of economic security, namely, geopolitical and macroeconomic risks and measures, introduced by states in order to prevent living of people in unfavorable conditions.

The paper is devoted to the problem of achieving economic security of states in conditions of economy globalization, economic confrontation between the leading powers of the world, emerging global risks. The essence of the trade war between the United States and China, the role of intellectual property in the struggle for the world leadership, China's policy in seeking to dominate in the high-tech sectors of industries, techniques of goods promotion to the world markets are considered. In the context of globalization, countries become dependent on each other and therefore vulnerable. The division of labor turns into a lever for economic impact on the country. The imposition of sanctions erodes international rules and agreements. Trade war, gaining momentum, turns into a political one, China imposes political sanctions against the United States of America.

Keywords: economic security; international trade; economic confrontation; global risks; new technologies; world leadership; trade rivalry; sanctions.

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NATIONAL UNIVERSITY OF OIL AND GAS "GUBKIN UNIVERSITY"

Main page of journal

TRAINING OF HIGHLY QUALIFIED PERSONNEL AS AN RESPONSE TO GLOBAL ENERGY CHALLENGES (p. 5)

TRAINING OF HIGHLY QUALIFIED PERSONNEL AS AN RESPONSE
TO GLOBAL ENERGY CHALLENGES (p. 5)