Modern development trends of petrochemical industry in Russia and the world

Abstract

© 2019, Institute of Advanced Scientific Research, Inc.. All rights reserved. The world trends in the development of the petrochemical industry are considered in the work. The role of the Russian petrochemical industry in the world is studied in more detail.The article presents the ratings of countries by such indicators as: oil production, volumes of shipped chemical and petrochemical products. The main indicators characterizing the development of the Russian petrochemical industry are analyzed. The leading companies operating in the petrochemical market are described, and their largest investment projects are examined in terms of such indicators as: project goal, implementation time and cost. It is shown that the structure of the petrochemical complex is dominated by crude oil production, as well as the negative dynamics of decline in the production of all three components of the petrochemical complex: oil production, refining, and chemical/petrochemical production. Based on the analysis, priorities and prospects for the development of the petrochemical industry in Russia were identified, its most important problems and solutions were also highlighted. One of the key problems is low investment activity and a decrease in production volumes in the petrochemical industry of the Russian industry. An important task, in this case, is providing incentives for the development of companies based on innovation and investment in further processing of raw materials. The most acute and controversial issues remain the taxation of the oil industry, replenishment of mineral resources, determining optimal volumes of Russian oil production and raising prices for oil products.