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April 2013

Diploma thesis INNOVATION MANAGEMENT in Russian oil refining . Student: Dobrynina Alexandra Scientific adviser: Kochetkov V.V. . April 2013. Relevance & Timeliness.

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April 2013

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  1. Diploma thesis INNOVATION MANAGEMENT in Russian oil refining Student: Dobrynina Alexandra Scientific adviser: Kochetkov V.V. April 2013

  2. Relevance&Timeliness • Despite difficulties trying to define it innovation process in companies is steadily becoming a practical tool to be measured, taught and managed • Sphere of interests and working competences: • Industry analysis • Market analysis • Different industries&markets need different innovation strategies: • Level of development; • Goals; • Level of government support; • Market structures; • Market players’ vision, etc. CRUDE OIL REFINING • Lack of innovation management in some industries

  3. Methods Refining structure • Descriptive methods: graphs, charts, statistics analysis • 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 • Strategic modeling to find way outs from «vicious circle» Oil industry in Russia

  4. 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 terminvestments 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

  5. Thank you for your attention !

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