Metamorphosis of Oil and Gas Market: Risks, Trends and Forecasts

Abstract

The chapter discusses global trends in the world oil and gas sector and their impact on the Russian hydrocarbon market. The key short-term risks for the Russian Federation are the following: the high dependence of the industry on the equipment of foreign suppliers and oilfield service companies. Possible threats associated with these factors may materialise against the backdrop of the geopolitical crisis of early 2022. Long-term trends include a global green transition with a peak in hydrocarbon consumption in 2030–2040 and a phase-out of oil and gas as a primary energy source. Simultaneously, the given industry is going to face gradual metamorphosis in terms of the types of wells being developed, which might require more science-intensive and high-tech approaches.

Citation

Safronchuk, M.V., Oleynik, A.V., Frolova, O.Y. and Badaev, N.A. (2023), "Metamorphosis of Oil and Gas Market: Risks, Trends and Forecasts", Popkova, E.G. (Ed.) Game Strategies for Business Integration in the Digital Economy (Advances in Business Marketing and Purchasing, Vol. 27), Emerald Publishing Limited, Leeds, pp. 39-46. https://doi.org/10.1108/S1069-096420230000027005