MANAGING IMPORT SUBSTITUTION POLICY IN THE OIL AND GAS INDUSTRY

Zorin Anton Pavlovich

The article discusses approaches to managing the policy of import substitution in the oil and gas industry. It is established that among the problems of introducing an import substitution system in the oil and gas industry, one can include the imperfection of the investment and credit system, which causes an outflow of equity, a decrease in financial resources and a decrease in the level of innovation and investment activity of business entities. It was found out that in order to successfully develop oil and gas industry enterprises must choose an effective development strategy. Since it is becoming quite difficult to carry out their activities on the world market under the conditions of sanctions pressure, manufacturers should reorient production to Asian markets. However, outdated production facilities and a low level of management contradict this. Therefore, it is proposed to form an import substitution strategy at the enterprise level of the oil and gas industry, as a strategy for the promising prosperous development of a domestic manufacturer.

Keywords:management, policy, import substitution, oil and gas industry, investments, innovations, sanctions.