Comparative performance analysis of private and public companies' in the oil industry sector: Russia and the world

Abstract

© International Research Publication House. The paper analyzes the operations of Russian largest state and private oil companies. The authors researched whether Russian companies comply with OECD guidelines on corporate governance of state-owned enterprises. During the analysis of variance, the relationship between this parameter and the economic development indicators of a state-owned enterprise was found, namely, revenue and EBITDA. In addition, based on the DEA methodology, a two-stage analysis of the comparative effectiveness of the largest oil companies was carried out. The first stage identified the top efficient companies in the Russian oil industry. At the second stage, the operations of Russian companies were compared with the largest oil enterprises in the USA, Great Britain, China, Norway, the Netherlands and France. The authors found the three most efficient companies from the initially selected business structures. They proposed an effective company as a benchmark for each “inefficient” one, and offered to transform input and output parameters to achieve efficiency.