Case study: The Transnationalization of Russian Oil and Gas Companies

Abstract

The value of multinational enterprises (MNEs) as the main players in the global

Spatial Differentiation of Variegated Capitalisms: A Comparative Analysis of Russian and Australian Oil and Gas Corporate City Networks

“…In Africa, Russian firms operate in Angola, Nigeria, Liberia, Ghana, and Cote d'Ivoire, driven by historic political connections and evolving business support networks (Kuznetsov 2016). In Latin America, Rosneft participated in projects in Venezuela, another socialist country (Lavrov and Aleksanyan 2017).…”

Economics In The Oil And Gas Industry Of Modern Russia

“…And the list goes on. Thus, the sanctions affected the most vulnerable point of the oil and gas https://doi.org/10.15405/epsbs.2021.07.102 Corresponding Author: Timergaziz G. Sadykov Selection and peer-review under responsibility of the Organizing Committee of the conference eISSN: 2357-1330 864 industry-its technical equipment (provision of technologies and equipment supply), services and investments (Dao & Edenhofer, 2018;Goryunova, Kuleshova, & Khakimova, 2017;Lavrov & Aleksanyan, 2017;Sadykov, 2019;Tyncherov et al, 2017). This is not the first time our country has faced sanctions.…”

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“…The oil and gas business is a classic sample of positive economies of scale (decreasing average costs caused by increasing output). Therefore, in most countries, especially those with significant resources, large (often the only) enterprises were formed and consolidated production, transportation, and refinery assets [Karpova, 2016].This, in combination with substantial fiscal dependency on oil and gas industries, leads to a blurring of lines between state and corporate interests in this sphere and makes some international organizations (primarily the WTO) unable to moderate interactions among business entities, perceived inter alia as state agents [Lavrov, Aleksanyan, 2017;Lavrov, Simonov, 2021]. The demand-side situation is rather similar: energy security underlies not only economic power, but also provides for basic necessities of households.…”