Russian oil and gas industry as a sphere of international interests and economic cooperation

Abstract

Russia’s oil and gas resources fall within the sphere of interests of Western European and a number of Asian countries, mainly China, for which a stable supply of the economy with hydrocarbon raw materials is the most important factor in the development of the economy. At the same time, the vast majority of resources are located in the North and the Arctic zone of Russia. Under conditions of considerable uncertainty in the energy markets, international cooperation between the countries of the Organization of Petroleum Exporting Countries and Russia to regulate the functioning of the industry has deepened. The article shows that in the context of reduced resources, complicating mining conditions, coordination of efforts to conduct joint fundamental research work is necessary. Further successful economic cooperation should be based on the harmonization of the economic interests of all stakeholders.