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  • Lukoil Case Study

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    Seri Rahayu
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    Russia's position as a major oil exporter can be explained by theories of trade such as natural and acquired advantage, as Russia has more oil reserves than Saudi Arabia. Global political and economic conditions also impact oil markets and prices. For example, uncertainty around OPEC supply and Chinese demand increases affect prices. For Russia and LUKoil to participate in international trade, they must maintain competitive advantages to compete in the global oil market and see potential for profits in exports. LUKoil's oil production requires highly mobile capital and skilled labor that moves to locations that can produce oil most efficiently. The Russian government has exploited demand for its natural resource surplus, while Costa Rica developed skills in targeted industries to transform from exporting resources to high-tech

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    Russia's position as a major oil exporter can be explained by theories of trade such as natural and acquired advantage, as Russia has more oil reserves than Saudi Arabia. Global political and economic conditions also impact oil markets and prices. For example, uncertainty around OPEC supply and Chinese demand increases affect prices. For Russia and LUKoil to participate in international trade, they must maintain competitive advantages to compete in the global oil market and see potential for profits in exports. LUKoil's oil production requires highly mobile capital and skilled labor that moves to locations that can produce oil most efficiently. The Russian government has exploited demand for its natural resource surplus, while Costa Rica developed skills in targeted industries to transform from exporting resources to high-tech

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    Attribution Non-Commercial (BY-NC)
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    5K просмотров2 страницы

    Lukoil Case Study

    Загружено:

    Seri Rahayu
    Russia's position as a major oil exporter can be explained by theories of trade such as natural and acquired advantage, as Russia has more oil reserves than Saudi Arabia. Global political and economic conditions also impact oil markets and prices. For example, uncertainty around OPEC supply and Chinese demand increases affect prices. For Russia and LUKoil to participate in international trade, they must maintain competitive advantages to compete in the global oil market and see potential for profits in exports. LUKoil's oil production requires highly mobile capital and skilled labor that moves to locations that can produce oil most efficiently. The Russian government has exploited demand for its natural resource surplus, while Costa Rica developed skills in targeted industries to transform from exporting resources to high-tech

    Авторское право:

    Attribution Non-Commercial (BY-NC)
    Скачайте в формате DOC, PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    из 2

    LUKOIL CASE STUDY: THEORIES AND INSTITUTIONS- TRADE AND

    INVESTMENT

    1. What theories of trade help to explain Russia’s position as an oil exporter?

    • Natural & Acquired Advantage: 15 more reserves than Saudi Arabia

    • Similarity Theory: Trade mostly with neighboring countries, former


    members of Soviet Union.

    • Porter Diamond Theory: National competitive advantage, with favorable


    demand, factor conditions, related & supporting industries and strategy.

    • Interventionist, merchantilism, PLC theories do not apply.

    2. How do global political and economic conditions affect world markets & prices
    of oil?

    • OPEC makes supply uncertain

    • Chinese industrialization increases demand.

    • Political unrest in Venezuela and war in Iraq makes supply from


    competition uncertain.

    3. Discuss the following statement as it applies to Russia & LUKOil.

    “Regardless of the advantages a country may gain by trading, international


    trade will begin only if companies within that country have competitive
    advantages that enable them to be viable traders - and they must foresee
    profits in exporting and importing”

    • Russia & LUKOil must maintain comparative advantage to be able to


    compete in world oil market. Otherwise, competitors could use FDI to take
    over by developing the latest technology, marketing skills and operating
    efficiencies.
    4. In LUKoil’s situation, what is the relationship between factor mobility &
    exports?

    • Oil production process are capital-intensive and require highly-specialized


    equipment manned by highly-skilled labor.

    • Investment capital, and labor goes where production is most efficient at


    making a profit.

    • LUKoil serves customers around the world, therefore they keep reserves
    around the world. In other words, mobile.

    5. Compare role of Costa Rican and Russian govt. in the use of trade to meet
    economic objectives.

    Russia
    Costa Rica

    • Developed acquired skills in • Exploited demand for their


    targeted industries. surplus of natural resources

    • Transform economy from • Transformed state-owned


    exporting natural resources to business to competitive
    high-tech manufactured privately owned enterprise
    products.

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