Currency and its Impact on Pricing and Prospects for the Oil and Gas Industry in Asia

Damir A. Abdullaev, Araz O. Mursaliev, Alexander V. Bondarenko, Anastasia N. Ivanova
2019 Proceedings of the External Challenges and Risks for Russia in the Context of the World Community's Transition to Polycentrism: Economics, Finance and Business (ICEFB 2019)   unpublished
Nowadays Asia is undergoing large-scale transformations in the oil and gas industry. These transformations affect, in particular, the aspect of contract currency and currency risks in international energy trade. Despite the political background, there is a significant economic component in this process. The purpose of this article is to reveal it and give a general vision of the origin of hydrocarbon prices and the main pricing mechanisms in this area using the Asian market and cooperation
more » ... en the Russian Federation and China as an example. The benefits of energy trading in national currencies and the main trends in the transition to settlements in national currencies in the field under study in ASEAN and in the multilateral RIC format are also evaluated.
doi:10.2991/icefb-19.2019.7 fatcat:h7zyg2uinrgifp4jbuptt56zcy