PARTICULAR QUALITIES OF FUNCTIONING OF THE OIL AND GAS COMPANIES IN THE RUSSIAN FEDERATION

Today, the oil and gas industry is one of the most powerful industries in the Russian Federation, largely forming the country’s budget and balance of payments, as well as providing foreign exchange receipts and maintaining the national currency exchange rate. The purpose of this study is a comprehensive analysis of the functioning of oil and gas companies: import substitution, digitalization and environmental responsibility. The paper presents the main results of the analysis of the functioning of oil and gas companies in the modern conditions of national economy development. The current situation with import substitution in this industry is described. It is noted that in the conditions of increasing uncertainty, primarily due to the introduction of sanctions, increased competition and dependence on foreign technologies, the domestic oil and gas complex faces a difficult task of increasing production capacity through the introduction of high-tech technologies, including the transition to digitalization. A number of measures of social responsibility towards the environment by oil and gas companies are presented. Conclusions are made about one of the most important tasks facing the domestic oil and gas complex strengthening its position in the world market through the development and implementation of digital technologies at all stages of the production cycle. The author substantiates the key role of the state in the development of the industry, whose tasks should include the development of mechanisms for stimulating and encouraging technological developments and training highly qualified personnel. It is summarized that at the same time, when solving such important tasks, companies in the oil and gas sector must ensure the safety of the environment, through the development of special measures discussed in the article.

oil and gas industry, digital transformation, import substitution, investment in the oil and gas complex, social responsibility, environmental responsibility, digitalization, sanctions, knowledge-intensive technologies, food security.

Koshman A. V., Rodionov D. G. Particular qualities of functioning of the oil and gas companies in the Russian Federation. Business. Education. Law, 2020, no. 3, pp. 105–112. DOI: 10.25683/VOLBI.2020.52.380.