Abstract

The oil industry note examines the evolution, growth and structure of the global oil industry. It also provides information on the European oil industry in general and the Russian oil industry in particular. The note examines the critical factors that shaped the industry over the decades. It discusses the various problems faced by the industry since the mid 20th century and the measures taken to deal with them. The note then moves on to discuss in detail the evolution of the Russian oil industry. It covers the various problems faced by the industry on account of the country's political and economic instability during the 20th century. It also discusses the measures taken by the Russian government and the industry to overcome these problems.

Learning Objectives

The case is structured to achieve the following Learning Objectives:

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Keywords

Global Oil Industry, European Oil Industry, Russian Oil Industry, Evolution of Oil Industry, Organization of Petroleum Exporting Countries, OPEC, Organization of Economic Cooperation and Development, OECD, World's Largest Energy Firms, World Oil Demand and Supply