Abstract
Introduction
Oil today is an extremely important resource tool and asset both in the economy and in politics. In the structure of world consumptionoil accounts for 31%, which exceeds the same indicator for gas and coal, as well as renewable energy sources.
Until 2040, this leadership of oil is likely to remain, although it will gradually surrender its positions to other energy carriers. In the early 1970s, the share of oil was close to 45%, but after the price shock of 1973, when OPEC imposed restrictions on oil supplies, it became clear to consumers that expensive oil should be disposed of whenever possible. This is exactly what happened: where oil can be replaced (for example, in the electric power industry), other energy carriers are used. But, perhaps, this is not always the case: there has not yet been found a massive substitute for oil in the transport sector.
Formulation of the problem
Today the Russian Federation has one of the largest mineral resource bases in the world. Its resources guarantee the country's economic and energy security, ensuring the current and future demand of the Russian economy for hydrocarbons. It accounts for 3.5% of the world's proven oil reserves, 21.4% and 18.2% of the world's proven reserves of natural gas and coal, respectively. Russia is not only one of the largest producers of energy resources, but also accounts for a significant share of world consumption. In these conditions, the fuel and energy complex is becoming a key area on which not only the sustainability of the state's development depends, but also its competitive position in the world arena. Accordingly, research,
Key research findings
To date, oil is the most important resource in the world, as of 2019 its share was 31% of total energy consumption (Fig. 1).
Figure: 1. Production of crude oil in the world in 2019[one]
The oil market is one of the most developed markets, which has everything – diversified demand and supply with numerous buyers and sellers actively competing on a global scale, and a developed system of financial derivatives, and advanced regulatory mechanisms. The downside is the volatility of oil prices.
The authorized capital of PJSC LUKOIL amounts to RUB 21,264,081. 37.5 kopecks and consists of 850 563 255 ordinary registered shares with a par value of 0.025 rubles. each one.
Ordinary shares are listed on the Moscow Exchange in the Level One quotation list and are one of the most liquid financial instruments on the Russian stock market.
The Company's shares are also listed on the London Stock Exchange, depositary receipts for the Company's shares are listed on the London Stock Exchange, as well as on the Frankfurt, Munich and Stuttgart stock exchanges and the US OTC market. About 35% of the shares are traded in the form of depositary receipts.
As of the end of the first half of 2017, about 50% of the shares are in free float.
The Company's shares and depository receipts are included in various world indices – MSCI Emerging Markets EMEA, MSCI Emerging Markets Eastern Europe, FTSE Russia IOB, Bloomberg World Oil & Gas and others [11] .6
Gazprom is the largest joint stock company in Russia. The total number of issued shares is 23,673,512,900. The state controls over 50% of the Company's shares[one].
The par value of one security is 5 rubles. The total par value of the issue is 118,367,564,500 rubles. [nine].
The number of shares of PJSC NK Rosneft is 10,598,177,817, where 5,299,088,910 (50.00000001%) shares are owned by ROSNEFTEGAZ [12].
In tab. 1 examines the value of shares of companies at the time of creation of international financial statements (IFRS) Companies have shown growth in shares for 5 years
Table 1 – The cost of the Company's share at the time of the Creation of IFRS, rubles.
|
year |
2013 |
2014 |
2015 |
2016 |
2017 |
|
Company |
Share price at the time of IFRS creation |
||||
|
Gazprom |
139 |
134 |
136.1 |
154.6 |
152.5 |
|
Lukoil |
2040 |
2225 |
2346 |
3449 |
4 889 |
|
Rosneft |
251.6 |
195.8 |
253 |
402.8 |
453.3 |
In fig. 2. there is a positive trend in all three enterprises. Lukoil from 2013 to 2017 was able to raise the share price from 2040 rubles. up to RUB 4889 (more than twice in 5 years), which deserves special attention.
Figure 2 – The cost of a company's share at the time of the Creation of IFRS
Thus, it can be seen that the high cost of shares and dividend payments per share of LUKOIL compared to Gazprom and Rosneft is primarily caused by the extremely small number of Lukoil shares.
If we compare companies in terms of total dividend payments, then Gazprom and Lukoil for 2017 are almost at the same level, which cannot be said about Rosneft, which has reduced dividend payments by 25.1 billion rubles over 5 years.
CONCLUSION
In this work, the state of the world oil market was analyzed. In 2020, the world is witnessing an economic shock caused both by expected circumstances, in the form of trade and political differences in the oil segment, and by force majeure in the form of a pandemic.
The political and economic spheres in the oil industry were analyzed. Major foreign oil companies Shell andSaudi aramco
Market pressure is forcing oil and gas companies to launch within themselves the most serious adaptation processes in terms of technological innovations aimed at increasing the availability (reducing production costs) of hydrocarbons and expanding the mineral resource base.
The structure of world energy consumption will become more and more diversified and balanced: by 2040 there is a gradual equalization of the shares of fossil fuels (oil – 27%, gas – 25%, coal – 25%) and non–fossil fuels (23% in total), which indicates on the development of international fuel competition and increasing the sustainability of energy supply.
LIST OF USED LITERATURE
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- Lukoil Oil Company [Electronic resource]. – Access mode:http://www.lukoil.ru/Company/CorporateProfile
- Federal Law No. 86–FZ of July 10, 2002 (as amended on March 28, 2017) “On the Central Bank of the Russian Federation (Bank of Russia)”. – URL:http://www.consultant.ru/cons/cgi/online.cgi?req=doc&base=LAW&n=214579&fld=134&dst=100007,0&rnd=0.2469528088089621#0
- The structure of the share capital of Rosneft [Electronic resource]. – Access mode:https://www.rosneft.ru/Investors/structure/share_capital/