Improving the competitiveness of oil industry enterprises by optimizing investment

Tyumen State University Herald. Social, Economic, and Law Research


Vesntik TSU. Economy (#11). 2013

Improving the competitiveness of oil industry enterprises by optimizing investment

About the authors:

Sergey V. Lyubimov,
Dr. Econ. Sci., Professor, Head of Economics and Property Evaluation Department, Institute for Economics, Management and Law (Surgut branch), Tyumen State University

Elena S. Sokolova,
student, Institute for Economics, Management and Law (Surgut branch), Tyumen State University


The current stage of the national economy development is characterized by a decrease in the rate of economic growth, low efficiency of budget process, the growing threats from internal and external environment. External threats are determined by decreasing volumes of exporting hydrocarbons abroad, whereas domestic threats are associated with a sharp decline in tax revenues in the non-oil sectors of economy and reduced spending on investment. The current condition of equipment, its physical deterioration in the oil industry does not allow the yield of produce on the technological frontier, and to modernize in order to increase competitiveness. The authors of this article offer a mechanism to form necessary investment funds for modernization of equipment of an oil enterprise by optimal programming methods. Improving the quality of management accounting in the enterprise will provide a solution to specific management objectives through equity. This will enable the usage of the proposed and practically adapted economic-mathematical model and to improve production efficiency in the declining production of hydrocarbons.


1. Forecasts of socio-economic development of the Russian Federation and of certain sectors of the economy // Forecasts of socio-economic development. Moscow: Ministry for Economic Development of the Russian Federation, 2013. URL:

2. Energy Strategy in Russia until 2020 // Energy strategy in Russia. Moscow: Ministry for Industry Trade of the Russian Federation, 2013. URL: http://Svww. docs/strateg/1.

3. Krjukov, V.A. The concept of «Big Oil». Neft' Rossii — Russian Oil. 2010. № 9. Pp. 31-33. (in Russian).

4. Korzhubaev, A.G. Problems and prospects of oil refining in Russia. Mir nefteproduktov — The world of oil produce. 2011. № 8. Pp. 3-7. (in Russian).

5. Kolesnikov, A.I. What management accounting is. Jeffektivnost' proektnogo biznesa — Effectiveness of project business. URL:

6. Horngren, Ch. Upravlencheskij uchet [Management Accounting]. St.-Petersburg, 2010. 22 p. (in Russian).

7. Vrublevskij, N.K. Buhgalterskij upravlencheskij uchet [Accounting Management records]. Moscow, 2010. 154 p. (in Russian).

8. Titova, N.L. Kurs lekcij po razrabotke upravlencheskih reshenij [Lectures on the development of management decisions]. Moscow, 2011. 92 p. (in Russian).

9. Filimonova, I.V. Russian oil and gas. Status and prospects. Neftegazovaja vertikal' — Oil and gas vertical. 2012. № 7. Pp. 16-24. (in Russian).

10. Braginskij, O.B. Issledovanie sostojanija i perspektiv napravlenij pererabotki nefti i gaza, nefte– i gazohimii i RF [Investigation of trends and prospects of oil, gas,

petro- and gas- chemicals in RF]. Moscow, 2011. 806 p. (in Russian).

11. Ljukshinov, A.N. Strategicheskij menedzhment [Strategic management]. Moscow, 2011. 375 p. (in Russian).

12. Zuev, G.M. Some directions of development of the classical methods of investment evaluation. Audit i finansovyj analiz — Audit and Financial Analysis. 2008. № 6. Pp. 294-303. (in Russian).

13. Kovalev, V.V. Korporativnye finansy i uchet: ponjatija, algoritmy, pokazateli [Corporate finance and accounting: concepts, algorithms, and indexes]. Moscow, 2010. 712 p. (in Russian).

14. Vissema, H. Strategicheskij menedzhment i predprinimatel'stvo [Strategic management and entrepreneurship]. Moscow, 2012. 272 p. (in Russian).

15. Aleksanov, D.S. Jekonomicheskaja ocenka investicij [Economic evaluation of investment]. Moscow, 2012. 382 p. (in Russian)