Impact of EU carbon border adjustment mechanism on the economic efficiency of Russian oil refining
The carbon border adjustment mechanism (CBAM) leads not only to the expected environmental changes, but also to the transformation of market environment. The study estimates the losses of the oil refining sector from the introduction of CBAM for the export of oil products from Russia to the countrie...
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| Format: | Article |
| Language: | English |
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Saint-Petersburg Mining University
2022-11-01
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| Series: | Записки Горного института |
| Subjects: | |
| Online Access: | https://pmi.spmi.ru/index.php/pmi/article/view/15882?setLocale=en_US |
| _version_ | 1797947273818144768 |
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| author | Vladimir L. Ulanov Oleg N. Skorobogatko |
| author_facet | Vladimir L. Ulanov Oleg N. Skorobogatko |
| author_sort | Vladimir L. Ulanov |
| collection | DOAJ |
| description | The carbon border adjustment mechanism (CBAM) leads not only to the expected environmental changes, but also to the transformation of market environment. The study estimates the losses of the oil refining sector from the introduction of CBAM for the export of oil products from Russia to the countries of the European Union. An approach to assess the impact of CBAM on the cost of oil products has been formed and the mechanisms of its impact on the economy of Russian oil refineries have been identified. The study was carried out on the basis of actual data on the volume of greenhouse gas emissions in accordance with the current rules of the European emissions trading system. Decomposition of assessments of the CBAM impact was carried out into direct and indirect effects, as well as the effect of adaptation. It is shown that with the introduction of the CBAM mechanism, the prices of oil products in the domestic market will be determined not only by the logistical factor, but also by the requirements for environmental friendliness of oil refining. The introduction of CBAM will have a significant impact on the economics of oil refining, including refineries that do not export to the EU. The total impact of CBAM on the economy of Russian oil refineries will be about 250 mln dollars. |
| first_indexed | 2024-04-10T21:25:15Z |
| format | Article |
| id | doaj.art-9dcace8c59e74c5bb5260c4844a45594 |
| institution | Directory Open Access Journal |
| issn | 2411-3336 2541-9404 |
| language | English |
| last_indexed | 2024-04-10T21:25:15Z |
| publishDate | 2022-11-01 |
| publisher | Saint-Petersburg Mining University |
| record_format | Article |
| series | Записки Горного института |
| spelling | doaj.art-9dcace8c59e74c5bb5260c4844a455942023-01-20T02:04:52ZengSaint-Petersburg Mining UniversityЗаписки Горного института2411-33362541-94042022-11-0125786587610.31897/PMI.2022.8315882Impact of EU carbon border adjustment mechanism on the economic efficiency of Russian oil refiningVladimir L. Ulanov0https://orcid.org/0000-0002-3391-5739Oleg N. Skorobogatko1https://orcid.org/0000-0003-1896-2278National Research University “Higher School of Economics”National Research University “Higher School of Economics”The carbon border adjustment mechanism (CBAM) leads not only to the expected environmental changes, but also to the transformation of market environment. The study estimates the losses of the oil refining sector from the introduction of CBAM for the export of oil products from Russia to the countries of the European Union. An approach to assess the impact of CBAM on the cost of oil products has been formed and the mechanisms of its impact on the economy of Russian oil refineries have been identified. The study was carried out on the basis of actual data on the volume of greenhouse gas emissions in accordance with the current rules of the European emissions trading system. Decomposition of assessments of the CBAM impact was carried out into direct and indirect effects, as well as the effect of adaptation. It is shown that with the introduction of the CBAM mechanism, the prices of oil products in the domestic market will be determined not only by the logistical factor, but also by the requirements for environmental friendliness of oil refining. The introduction of CBAM will have a significant impact on the economics of oil refining, including refineries that do not export to the EU. The total impact of CBAM on the economy of Russian oil refineries will be about 250 mln dollars.https://pmi.spmi.ru/index.php/pmi/article/view/15882?setLocale=en_UScarbon border adjustment mechanismcbameconomics of oil refiningexport of oil productsassessment of cbam impact |
| spellingShingle | Vladimir L. Ulanov Oleg N. Skorobogatko Impact of EU carbon border adjustment mechanism on the economic efficiency of Russian oil refining Записки Горного института carbon border adjustment mechanism cbam economics of oil refining export of oil products assessment of cbam impact |
| title | Impact of EU carbon border adjustment mechanism on the economic efficiency of Russian oil refining |
| title_full | Impact of EU carbon border adjustment mechanism on the economic efficiency of Russian oil refining |
| title_fullStr | Impact of EU carbon border adjustment mechanism on the economic efficiency of Russian oil refining |
| title_full_unstemmed | Impact of EU carbon border adjustment mechanism on the economic efficiency of Russian oil refining |
| title_short | Impact of EU carbon border adjustment mechanism on the economic efficiency of Russian oil refining |
| title_sort | impact of eu carbon border adjustment mechanism on the economic efficiency of russian oil refining |
| topic | carbon border adjustment mechanism cbam economics of oil refining export of oil products assessment of cbam impact |
| url | https://pmi.spmi.ru/index.php/pmi/article/view/15882?setLocale=en_US |
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