Subject. The article deals with technological progress in the oil and gas industry, the impact of international sanctions on Russia's energy security. Objectives. The study aims to assess development prospects for new methods of oil production, analyze measures to ensure environmental sustainability of industry enterprises, and regulatory and economic restrictions. Methods. The study rests on comparative and statistical analysis. Results. Processes like drilling and hydraulic fracturing increase productivity. However, sanctions have an integrated effect on project development schedules and overall competitiveness of the industry. Market volatility caused by changes in oil prices and demand patterns around the world can significantly exacerbate uncertainty. Conclusions. Digitalization cuts costs, improves plant safety, and reduces environmental impact. Diversification of markets, reduction of dependence on foreign technologies and financing, development of alternative energy sources enable to increase the industry’s stability in difficult geopolitical conditions.
Keywords: technological innovation, equipment modernization, oil and gas industry, environmental sustainability, strategic partnership
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