An article by Vitaly Protasov, the IEF’s expert is published in the 11th issue of the «Oil of Russia» magazine.
The article analyzes the impact of the current economic crisis on the investment policy of oil companies in the world. From a theoretical point of view, the crisis can have both positive and negative impact on the capital investments of oil and gas companies. In reality, there has been no decline in real investment in the global oil industry (due to a decline in the cost of investment projects). However, the crisis led to a significant slowdown in the growth rate of capital investments. The paper identifies three clusters of companies whose investment behavior model is influenced by the crisis in different ways: majors (stability), national oil companies (rapid growth), and other private companies (rapid decline).
The full text of the article is available at the journal’s website.