Diploma thesis
INNOVATION MANAGEMENT
in Russian oil refining
Student: Dobrynina Alexandra
Scientific adviser: Kochetkov V.V.
April 2013
Relevance & Timeliness
•
•
•
Despite difficulties trying to define it
innovation process in companies is
steadily becoming a practical tool to be
measured, taught and managed
Different industries & markets need
different innovation strategies:
• Level of development;
• Goals;
• Level
of
government
support;
• Market structures;
• Market players’ vision, etc.
•
Sphere of interests and working
competences:
• Industry analysis
• Market analysis
CRUDE OIL REFINING
Lack of innovation management in some
industries
2
Methods
Refining structure
•
120%
Descriptive methods:
statistics analysis
graphs,
charts,
100%
80%
•
•
•
Econometric analysis:
• Panel data on major oil refineries in
Russia in 2000-2011
Dependence
of
oil
refineries
characteristics
on
investments
in
modernization & innovation of plants
• Volume of refining (proxy for plant
volume
• Technology of plant’s development
(refinery depth)
• Plant’s export potential (residual oil
share in export)
• Interest
rate
as
alternative
investment
60%
40%
22%
21%
32%
heavy oil
40%
20%
petrol
diesel
40%
46%
0%
Russia
World
Oil industry in Russia
Strategic modeling to find way outs from
«vicious circle»
3
Expected results & principal conclusions
Hypothesis of Path Dependence in oil refining:
negative influence of Russian export structure (low
export of light refined products, high volume of
export of fuel) on indicators of innovation and
investment activity of Russian oil refineries – to be
empirically proved
Russian oil refining is in “vicious circle». It gets
revenues from residual fuel oil export and doesn’t want
to make long term investments in refineries’
modernization
The situation can’t be changed by market forces. To
“break” the circle there should be external shock
made by government. That’s why The Russian
government has recently started stimulating Russian
refineries by setting technological requirements,
differentiating excise taxes for more and less refined
products, enforce Russian oil refineries to make
modernization and investments programmes
4
Thank you for your attention !