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ИД «Финансы и кредит»






National Interests: Priorities and Security

Evaluating the innovation of oil and gas enterprises under new circumstances: Evidence from Rosneft Oil Company

Vol. 16, Iss. 8, AUGUST 2020

Received: 18 May 2020

Received in revised form: 4 June 2020

Accepted: 20 June 2020

Available online: 14 August 2020


JEL Classification: С51, С53, L52, O03, C33

Pages: 1444–1458


Baranova N.M. Peoples' Friendship University of Russia (RUDN University), Moscow, Russian Federation


Loginova D.S. Peoples' Friendship University of Russia (RUDN University), Moscow, Russian Federation

ORCID id: not available

Larin S.N. Central Economics and Mathematics Institute of Russian Academy of Sciences (CEMI RAS), Moscow, Russian Federation


Subject. Illustrating the case of Rosneft Oil Company, we herein study how innovation spurs business operations, increases the competitiveness of firms and protects them from risks.
Objectives. We model the innovative activity of Rosneft Oil Company and its competitiveness.
Methods. We analyze proceedings by the Russian and foreign scholars, materials on program for the innovative and sustainable development of Rosneft Oil Company. Our assessments were based on statistical data of Rosneft’s annual report for 2004–2019. The regression analysis and econometric studies were conducted via Eviews10.
Results. We set models to predict the innovative development of the company for the nearest future. We revealed that the linear model was the most appropriate and suitable for forecasting. Properties and estimates of the exponential model turned to be insignificant, on the contrary.
Conclusions and Relevance. Currently, it is difficult to forecast the extent to which corporate development, its innovative activity will change in 2020 and in the nearest future. Despite the company’s achievements before 2020, continuous trade wars, geopolitical conflicts, pandemic, OPEC agreements and a consequential drastic drop in the demand for power resources considerably slowed down the pace of the economic growth not only in the company, but also in the country.

Keywords: oil and gas, innovation, econometric modeling


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