Crisis processes in oil branch of Russia. Anti-recessionary measures.
- Дата выхода отчёта: 05 декабря 2008 г.
- География исследования: Россия
- Период исследования: 2008 (актуализация по запросу)
- Язык отчёта: Английский
- Способ предоставления: электронный
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Описание
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Содержание
Main research objectives are:
1. The analysis and estimation of scale and depth of crisis processes appeared in Russian oil complex during September-October, 2008; expert opinions of the Russian specialists on state in branch; scripts of further development; suggested anti-recessionary measures.
2. Revealing tendencies of economic crisis overcoming in Russian oil complex under effect of external and internal environments.
Information sources:
1. Statistical data and forecasting information of RF Ministry of Economic Development and Trade, Ministry of Finance, and Federal State Statistic Service.
2. Companies press releases, branch and expert estimations of mass-media.
3. Own informational resource and extensive enterprises database of Information Agency «CredInform North-West ».
General conclusions:
According to economists’ estimations, crisis processes have seized also Russia. Oil branch specialists felt their negative tendencies in September, 2008, and they had become stronger during next months. The main features of present crisis in Russia are the following factors: liquidity problems; difficulties with reception of credits; mass capital outflow from Russia; sharp stock markets collapse; credibility gap between banks and companies; and etc.
Now the economic crisis in Russian oil complex is appeared through low level of world oil prices and their constant falling; increase in risks while investing in branch; collapse of basic oil companies shares value; reduction of prices on gasoline and various kinds of fuel; and other worthy factors that had been analyzed at the present review.
Prices for mineral oil on the Russian fuel market continue movement in a negative side. At the beginning of October the greatest negative correction has been noted on summer diesel fuel and Ai-95 gasoline. Most likely, next months cost of mineral oil will follow the falling tendency as at present the factors capable influencing on fuel market trend growth are not being found out.
Besides, pessimistically adjusted world oil and mineral oil market are not able to render support to the Russian prices, on the contrary, world economic crisis and worsening environment of market behavior due to constantly decreasing demand deprive possibility of the Russian traders to consider export alternative as a trade variant.
The government takes measures on overcoming the crisis and improvement of economic conjuncture for oil companies, however oil industry workers consider these measures insufficient.
Thereupon the oil and fuel companies should begin rigid economy: it will affect not only multi-billion projects but also others smaller positions. So, many companies cutting already down business trips, educational and other actions to minimum. Requirements growth to productivity of performed work can lead to such way under which it will become to work rationally for two that in turn cause reduction of employees’ number.
