The BRICS Oil Sector: Its Role in Global Energy and Development Trends
Abstract and keywords
Abstract:
Subject/Topic. The article examines the problems of organizing the development of the BRICS oil sector, taking into account its role in the global energy industry. The current state and development trends of the BRICS oil sector are analyzed, and it is concluded that the stability of production volumes observed over a long period of time reflects the strategy of the BRICS oil-producing countries to diversify their economies and reduce dependence on hydrocarbon exports. Methodology. To analyze the development processes of the BRICS oil sector, a systems-structural approach is used, which is a tool for logically "assembling" cause-and-effect chains in this area of economic and political relations. Results. Key areas of development for the BRICS oil-producing countries are identified: maintaining a leading position in the global market, diversifying the economy, developing new technologies and ensuring sustainable development. Development directions for the BRICS member countries are determined, taking into account energy issues. The conclusion is substantiated that strong dependence on the oil sector also creates risks associated with oil price volatility, resource depletion and the need to adapt to the global energy transition. Conclusions/Significance. Given the pressure exerted by developed countries on BRICS member states, it is advisable to develop management tools that more closely coordinate BRICS member states' energy operations, energy supply routes, new forms and currencies of payment for energy supplies, etc. Russia is expected to play a major role in this area. The proposal proposes establishing a unified management space with a high-dimensional computing component in the BRICS oil sector, relying on a pool of digital platforms, the creation and operation of which Russia possesses (considering the experience of the USSR). The proposed measures will ensure the manageability of the BRICS energy supersystem amidst critical global economic turbulence. Application. This article may be useful to researchers and practitioners engaged in analytical work in companies, scientific and educational organizations, employees of government agencies, as well as graduate and undergraduate students.

Keywords:
BRICS, Russia, economy, energy, oil, development, management, investment
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