Strategy for Improving Procurement Efficiency in the Oil and Gas Complex: Foreign Experience

The current macroeconomic challenges have affected the oil and gas complex, which remains the locomotive of Russian economy. Foreign partners are leaving Russian projects as the European Union and the United States initiate unprecedented sanctions against Russian economy. As a result, the oil and gas industry has to change its logistics to compensate for the lack of supply of goods and services from unfriendly countries. The industry has to turn to the best world practices in the sphere of procurement. Effective procurement activities can solve the problem of technological independence and import substitution in Russian oil and gas companies. The author analyzed the experience of foreign companies in the sphere of mineral resources, industry, and trade. The research objective was to identify the best practices that allowed these enterprises to become leaders in their economy sectors.