Innovative Technologies of Oil Production: Tasks of Legal Regulation of Management and Taxation

This chapter of the monograph substantiates the need for intellectualization of the main factors of production in the oil industry at the present stage of development and modernization of the Russian economy. The direct dependence of the financial security of the Russian Federation on the volume of extracted raw materials, the severity of issues related to the delineation of powers in the sphere of owning, using and disposing of natural oil and gas resources is considered in the chapter in the context of the course announced by the authorities for innovation and high technologies. Introduction of innovative technologies in the field of hydrocarbon production is considered as a priority component of the general direction within the framework of modernization of the Russian economy. The relevant tasks of the Russian oil industry, consisting of large vertically integrated oil companies, are being studied. The ways of finding acceptable, economically adequate legal bases for effective mining of mineral resources are discussed. Which are in direct dependence on innovative technologies that satisfy the social, economic and political aspirations of the state, and allow to solve the problem of limited natural resources. An innovative approach to taxation of oil companies is being explored, providing for the withdrawal in favor of the state of half of the net income actually received by the economic entity, after covering all the costs of oil production.