INFLUENCE OF CHANGE OF THE WORLD OIL PRICES ON EXTRACTION OF HYDROCARBONS OF THE RUSSIAN ARCTIC SHELF

Today, Russian Federation takes the second place on oil and gas production after the United States of America. In 2015, 534.1 million tons of oil were extracted in our country (including gas condensate), which is 1.5% higher than production in
2014. At the same time there is a reduction in gas production: it was produced 635.3 billion cubic meters, which is 1% less in 2015 than in 2014.
Large reserves of hydrocarbonic raw material are concentrated on the Russian Arctic shelf. Recoverable oil reserves amount to 447 million tons, and gas - 10.1 trillion cubic meters. According to forecasts of experts, more than 90% of all Russian gas and 10% of oil are extracted in the Arctic.
However, on the way to "gold of the Arctic," raises a number of issues that are the subject of this work. The article looks at the impact of world’s oil price changes, imposed sanctions against Russia, and the influence of climatic factors on the production in the Arctic. The main objective of the work is carry out an assessment of influence of sharp falling of oil’s prices at the beginning of 2016. For achievement of the purpose it is necessary to solve the following problems: to study history of development of hydrocarbons’ production on the Arctic shelf of Russia, to analyse current state of the oil’s market in a condition of falling of the world prices for hydrocarbons, to establish the falling reasons. Alternative options of further development of oil and gas branch on the Arctic shelf will be considered.