Economic Analysis: Theory and Practice
 

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An integrated economic analysis of the oil and gas companies of Russia

Vol. 18, Iss. 5, MAY 2019

Received: 12 March 2019

Received in revised form: 22 March 2019

Accepted: 29 March 2019

Available online: 30 May 2019

Subject Heading: ANALYSIS OF INCOME, PROFITS AND COSTS

JEL Classification: H21, H32, L52, L71

Pages: 925–943

https://doi.org/10.24891/ea.18.5.925

Filimonova I.V. Trofimuk Institute of Petroleum Geology and Geophysics, Siberian Branch of Russian Academy of Sciences (IPGG SB RAS), Novosibirsk, Russian Federation
FilimonovaIV@list.ru

https://orcid.org/0000-0001-6833-6748

Eder L.V. Trofimuk Institute of Petroleum Geology and Geophysics, Siberian Branch of Russian Academy of Sciences (IPGG SB RAS), Novosibirsk, Russian Federation
ederlv@yandex.ru

https://orcid.org/0000-0003-0148-7036

Nemov V.Yu. Trofimuk Institute of Petroleum Geology and Geophysics, Siberian Branch of Russian Academy of Sciences (IPGG SB RAS), Novosibirsk, Russian Federation
void-pilgrim@mail.ru

ORCID id: not available

Mishenin M.V. Trofimuk Institute of Petroleum Geology and Geophysics, Siberian Branch of Russian Academy of Sciences (IPGG SB RAS), Novosibirsk, Russian Federation
ddkgollum@ya.ru

ORCID id: not available

Subject In the face of external and internal challenges, oil and gas companies continue increasing revenues and profits. This contributes to the country’s economic growth, social safety nets funding, and discharge of foreign economic obligations of the State. However, long-term economic forecasting requires an in-depth structural and dynamic analysis of industry efficiency.
Objectives Our aim is a comprehensive study of the structure and dynamics of financial and economic condition of companies’ operations in the oil and gas industry of Russia in the context of external and internal challenges.
Methods The study draws on a set of research methods, economic analysis (historical, systems, cause-and-effect analysis, and others) and the analysis of time series, systematization and arrangement of data in tabular and graphical form to discover patterns and changes in indicators.
Results We performed a quantitative assessment of the role of the oil and gas complex in the Russian economy, systematized external and internal challenges to sustainable development of the industry, made an integrated analysis of structure and dynamics of financial and economic indicators of oil and gas companies, considering the time factor.
Conclusions The paper notes and explains the following: sales revenues were unstable, operating costs have steadily increased in recent years, the net profit in the oil and gas industry tends to decline (particularly this refers to gas companies) due to a threefold drop in gas prices on the European market.

Keywords: oil and gas industry, efficiency, revenue, profitability, tax burden

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