The carbon border adjustment mechanism (CBAM) leads not only to the expected environmental changes, but also to the transformation of market environment. The study estimates the losses of the oil refining sector from the introduction of CBAM for the export of oil products from Russia to the countries of the European Union. An approach to assess the impact of CBAM on the cost of oil products has been formed and the mechanisms of its impact on the economy of Russian oil refineries have been identified. The study was carried out on the basis of actual data on the volume of greenhouse gas emissions in accordance with the current rules of the European emissions trading system. Decomposition of assessments of the CBAM impact was carried out into direct and indirect effects, as well as the effect of adaptation. It is shown that with the introduction of the CBAM mechanism, the prices of oil products in the domestic market will be determined not only by the logistical factor, but also by the requirements for environmental friendliness of oil refining. The introduction of CBAM will have a significant impact on the economics of oil refining, including refineries that do not export to the EU. The total impact of CBAM on the economy of Russian oil refineries will be about 250 mln dollars.
The article examines both external and internal threats to national energy security, formulates the tasks of increasing energy security, discloses modern challenges, as well as measures to level them. In recent years, Russian economy has felt the growing influence of external threats and risks: unfair competition in world markets, high politicization of energy issues, and attempts to prevent Russia from monetizing national energy reserves. Influence of the use of renewable energy sources on national energy security, growth of liquefied natural gas production, stricter environmental requirements, changes in the demand for petroleum products, and introduction of anti-Russian sanctions are analyzed. The influence of internal risks is no less significant: quality of hydrocarbon reserves in the Russian Federation is declining, effectiveness of geological exploration is insufficient, and the share of hard-to-recover reserves is increasing. Energy security assessments are recommended taking into account modern challenges and on the basis of parameters such as ratio of the annual increase in the balance values of primary fuel and energy resources to the volume of their production, share of natural gas in the balance structure of primary fuel and energy resources, implementation of investment programs by fuel and energy sectors, change in the specific energy intensity of GDP, prices and etc.
Case studies show the urgency of the problem of securing zones of responsibility for achieving development targets. The article gives a current practice analysis in the domestic economy. The importance for companies not only to assess past achievements, but to study the characteristics of the development prospects is stressed. The article deals with questions of quantification, targeting and allocation of responsibility for achieving development targets of commodity companies. The cost of oil and gas companies as a criterion for its development is analized. The impact of various factors on the cost is assessed. The article high lightens the role of external factors in the current period as well as the importance of the fundamental ones. It also shows the possibility of calculating out come indicators by different measures in the face of negative factors. The system of targeted strategic and planning targets for quantitative assess-ment of the strategic goal sand objectives to achieve the misdemonstrated. For example, the largest Russian company Gazprom shows one way to implement such an approach. Gazprom's system of targeted strategic, planning and monitoring indicators for quan-tifying the strategic objectives and ways of achieving the misshown and management based on targeting and consolidation of areas of responsibility is recommended.
The author discusses several important growth factors of a company’s business value based on his own experience in the extracting industry. The author emphasizes the role of in-ground reserves as the key factor of an oil company’s investment attractiveness.