The Improvement Of The Global Strategies Of Development Of Russian Vertically-integrated Oil Companies

In the article the main theoretical questions of formation of global strategy of the oil companies are generalized.The indirect and direct factors influencing these strategy are revealed.Role of scientific and technical progress and innovations in the external economic strategy of the vertically integrated oil companies is specified.The development of the world oil and gas complex in modern conditions is characterized by increased competition on a global scale.The appearance on the world market,along with traditional oil and gas transnational corporations(TNCs),the major players of the leading developing countries,contributes to the change in the structure of the world markets of hydrocarbon raw materials,the change of priorities leading TNCs to change their global strategies.These changes occur against the background of ongoing changes in the global energy balance,increasing the innovative nature of the industry,growing competition from the substitutes for conventional oil(shale oil and shale gas).Foreign vertically-integrated oil companies(VIOCs)are experiencing a new stage of its development,associated with the search for additional competitive advantages in the international division of labor,which leads to greater commodity and geographical diversification against the background of internationalization of economic life in General.In turn,an active policy of internationalization of Russian vertically integrated oil companies carried out in recent years,has its own characteristics,due to the evolution of these companies,the specifics of their formation in conditions of transition economy.Important role in changing the global strategies of Russian vertically integrated oil companies played and the global financial and economic crisis of 2008-2009;the deterioration of the global oil market,reflected in an unprecedented drop in oil prices in 2014-2015;the imposition of economic sanctions against a number of Russian economic entities.Even without taking into account the latest factors and trends of development of world economy,the activities of the Russian vertically integrated oil companies continue to impact the number of barriers formed as a result of the internal contradictions of development of the national economy.They include,for example,the imperfection of energy legislation of the Russian Federation and problems of taxation of activities of vertically integrated companies.In addition,the Russian vertically integrated oil companies is still insufficiently apply the rules and principles of corporate governance prevailing in the large oil companies of foreign countries.In this regard,in the current conditions for the Russian vertically integrated oil companies requires a fundamentally new approaches and development strategies to diversify directions of export of Russian oil,securing domestic producers in the global oil refining sector,embedded in the transport-logistics infrastructure of world exports of the fuel and energy complex(FEC).These tasks must be solved taking into account interests of the Russian vertically integrated companies-exporters,in the context of the need to address crucial environmental and social objectives and tasks of economic development of the country as a whole.You must take into account that a number of Russian experts and researchers already made some fundamental innovations in fuel and energy complex,and this experience can be actively used by domestic integrated oil companies to optimize energy exports and the formation of new global strategies.Comprehensive consideration of these circumstances points to the relevance and timeliness of special study devoted to the scientific basis of global strategies of Russian vertically integrated oil companies in various areas of internationalization of their activities.The structure of the work is determined by the content and nature of the goals and objectives of the study.The thesis consists of introduction,main part,3 chapters,conclusion and list of references.The first Chapter is the theoretical aspects of the analysis of global strategies of vertically integrated oil companies in the conditions of transformation of the world oil market.The second Chapter is the global strategy development of vertically integrated oil companies at the present stage.The third Chapter is how to improve the global strategies of oil companies in Russia(on the example of the company "LUKOIL")Scientific results,contains elements of scientific novelty,which constitutes the author’s contribution,and the increment of scientific knowledge in the study of the world economy:-the author’s approach to the study of vertical integration in the modern global oil and gas industry;established that the possibility of optimal implementation of the global strategies of vertically integrated oil companies are mainly associated with increasing global demand for petroleum products and the growth of investment activity of oil companies in developing countries;proven limitations of the impact of the processes of shale gas revolution on the transformation of the global strategies of vertically integrated oil companies;-proven growing interdependence between the main development trends of the world markets of hydrocarbon raw materials and the global strategies of vertically integrated oil companies in these markets;the author’s analysis of the impact of environmental factors on the changing role of oil in the global energy mix in the medium term;identified the fundamental trends of the transformation of the world oil market,which will determine the change in the development strategies of individual companies;-proposed and justified the most efficient forms of internationalization activities of Russian and foreign vertically integrated companies with analysis of their advantages,matching,and comparison of the priorities of their global strategies,evaluation of foreign experience in state energy policy;-developed perspective directions of integration of Russian vertically integrated oil companies in the world market,in particular,specify the most acceptable forms and methods of this integration;assessed and formulated the main risks encountered by Russian VIOCs in the implementation of their global strategies;...