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Risk Hedging Tools: Efficiency and Significance of their Use in the Processes of Forming Development Strategies of Russian Oil and Gas Companies

The possibilities of using hedging methods as an instrument for effective business development in the Russian oil and gas market are shown. The relevance of the study is to systematize and identify the key elements of the risk hedging mechanism for business units of oil and gas companies. The focus is on the adaptation of methods such as descriptive statistics and the ARIMA model. Information for the study was taken from open sources, including daily data from company websites and data from official websites of other organizations. The article presents a risk hedging scheme in oil and gas field development projects. The risks of the project were assessed with qualitative and quantitative indicators. This made it possible to identify the dynamics of the degree of change in the latter and evaluate the costs associated with minimizing them during the life cycle of an investment project for the development of an oil (gas) field. Recommendations are proposed to reduce the basic risks of the project. To this end, they were ranked according to their importance to the investor. Significant risks in Russia for investors in the industry are country risks, the reduction of which is a priority for attracting new investments.