System of government support small oil business abroad

Abstract

Purpose: the paper studies the experience of foreign countries in the field of state policy with respect to the small oil business (SOB) for the formation of proposals for the development of the system of government regulation for the SOB in Russia. Discussion: the level of development of small business in the oil sector suggests the flexibility and innovativeness of the oil and gas industry, a more complete and efficient use of hydrocarbon resource base, which ultimately increases the level of competitiveness of the oil and gas industry. Effective development of the SOB is possible due to thought-out policy of state support. Improvement of the system of state support for the SOB should occur on a detailed study of the basic experience of highly industrialized countries. Results: the analysis of tax incentives used in countries with a developed sector of small oil and gas businesses is carried out. Recommendations for improvement of the Russian legislation in this area are suggestеd.