Ranked assessment of the effectiveness of implementation the investment policy in oil industry
The article provides an overview the financial state of oil companies, formed under the influence of deteriorating external economic conditions. The dynamics of the company's EBITDA over the past three years demonstrates the gradual adaptation of the business to the new realities of macroeconomic environment. In order to form an effective investment policy in the near future, the results of implementing the investment policy of companies over the past five years on basis of a ranked assessment of the effectiveness of investment policy with the use of a reference ratio of growth rates in key areas of investment were considered. The results of the analysis show an average comparable level of effectiveness of the companies' investment policy (about 40%). From the standpoint of the necessity of observing this reference ratio, the directions of scientific and technical development and replenishment of the mineral and raw materials base of the oil industry are presented for the medium and long term. As the priority tasks of the state policy to maintain the investment activity of companies and ensure the sustainable operation of the oil industry and the country's economy as a whole, it is proposed to establish additional measures to stimulate spending on research and exploration.