Scientific Journal SPATIAL ECONOMICS - World Hydrocarbon Markets: Effective Strategies of Players

In the section	Articles
Title of the article	World Hydrocarbon Markets: Effective Strategies of Players
Pages	67–87
Author	Olga Valeryevna Dyomina Candidate of Economics, Senior Research Fellow Economic Research Institute FEB RAS 153 Tikhookeanskaya Street, Khabarovsk, Russia, 680042 This email address is being protected from spambots. You need JavaScript enabled to view it. ORCID: 0000-0002-7992-5852
Abstract	The author made a comparative analysis of strategies of main players on the world hydrocarbon market; defined effective strategies of development of fuel and energy sector on every stage of technological chain of hydrocarbon transformation: 1st stage – extraction of natural resources, 2nd stage – primary processing, 3rd stage – deep processing. Effective strategies on the first stage assume planning the volume of extraction and geological exploration depending on the volume of processing on the second and third stages. On the second stage the array of effective strategies increases and is defined by the combination of two parameters: the availability of raw materials (domestic or imported) and orientation on the market (domestic or world market). On the third stage effective strategies are based on the integration with the previous stages, the array of strategies is defined by the combination of three parameters: type of raw materials (the product of gas or oil processing), orientation on the market (domestic or world) and specialization on the production output (mass multi-tonnage or knowledge-intensive low-tonnage). Realization of effective strategies provides maximization of added value from hydrocarbon processing as part of the technological chain in two configurations: 3–2–1 or 3–2 stages. The development of thermal power industry in Russia does not fit into effective strategies described above. The results of the current strategy are the following: on the first stage, Russia is one of the three leading players on the world market thanks to large resources base; one the second stag,e Russia is the second by the export of oil products but lacks in quality and variety; on the third stage, Russia had lost its position as a leader in ethylene production it used to have in 1985. The possibilities of maximizing the income from hydrocarbon extraction are exhausted, while the quality and variety of Russian products means that they can only compete on the raw resources part of the world market
Code	339+333
JEL	F10, L16, L71
DOI	10.14530/se.2018.3.067-087
Keywords	technological chain ♦ effective strategy ♦ world hydrocarbon market ♦ oil processing ♦ gas processing ♦ oil and gas chemistry ♦ processing
Download	SE.2018.3.067-087.Dyomina.pdf
For citation	Dyomina O.V. World Hydrocarbon Markets: Effective Strategies of Players. Prostranstvennaya Ekonomika = Spatial Economics, 2018, no. 3, pp. 67–87. DOI: 10.14530/se.2018.3.067-087. (In Russian).
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