The development of the world market for oil and gas

Abstract

The author considers the main factors of the world market creation and development for providing services in oil and gas production, emphasizes the influence of competition on the relationship between the companies, identifies the main areas of activity of firms in the global market. The author pays special attention to the development of the market of services for oil and gas production in Russia and reveals the importance of anti-Russian sanctions related to the embargo on deliveries of drilling equipment to Russia and services for the production of hydrocarbon products. Besides, the decisions taken by government agencies and private companies to solve the problems are highlighted.