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ECONOMY, ORGANIZATION, MANAGEMENT
ArticleName Realization of flow-methods of innovative development of oil industry
ArticleAuthor Yartiev A. F.
ArticleAuthorData

Tatar Oil Research and Design Institute of Tatneft Company:

A. F. Yartiev, Head of Oil Production Economics Sector, Candidate of Economic Sciences, e-mail: yartiev@tatnipi.ru

Abstract

Profitability in oil industry, along with other factors (production, investments, tax burden), is determined largely by the efficiency of finance management with due account for the business particulars. A highly efficient finance management tool is a flow-based method aimed at expenses’ optimization and innovation production development.

In terms of oil production, cash flows can be reduced to earnings-flow and costs-flow. The distinctive characteristic of the subsurface user’s costs-flow is that it is to a great extent an earnings-flow for the state budget.

In case of reducing of the subsurface users’ tax burden a part of its costs-flow would become a reverse-type flow and could be invested in production development.

The analysis shows that the basis for innovative-driven development of the fuel-and-energy sector is a 5 % reduction of the tax burden accompanied by the growth of reverse-type flow investments.

keywords Economic theory, innovation, investment, tax burden, oil production, income, flow
References

1. Yartiev A. F. Ekonomicheskaya otsenka proektnykh resheniy innovatsionno-investitsionnykh vlozheniy dlya neftyanoy promyshlennosti (Economic evaluation of design solutions of innovative-investment for the oil industry). Moscow, 2011, 232 p.

2. Federalnyy zakon № 151-FZ “O vnesenii izmeneniy v glavu 26 chasti II Nalogovogo kodeksa Rossiyskoy Federatsii i aktov Rossiyskoy Federatsii” (Federal statute No. 151-FS “On the Introduction of Amendments to Chapter 26 of Part II of the Tax Code of the Russian Federation and on the Invalidation of Certain Provisions of Legislative Acts of the Russian Federation”), 27.03.2006.

3. Federalnyi zakon № 307-FZ “O vnesenii izmeneniy v stati 342 i 361 chasti II Nalogovogo kodeksa Rossiyskoy Federatsii” (Federal statute No. 307-FS “On the Introduction of Amendments to Chapters 342 and 361 of Part II of the Tax Code of the Russian Federation”), 27.11.2010.

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