An Empirical Study on the Relationships Between Sales Revenue of Oil Company (Rosneft) and Industry Specific and Exogenous Characteristics
An Empirical Study on the Relationships Between Sales Revenue of Oil Company (Rosneft) and Industry Specific and Exogenous Characteristics

Summary/Abstract: In this paper we investigate the relationships between oil company sales revenue as a primary financial indicator and industry specific and exogenous characteristics, using a data set from 2013 to 2017. In order to achieve this aim we applied multiple regression analysis. Our empirical analysis reveals that index of industrial production, export oil duty, costs of oil production showed a statistically significant positive impact on sales revenues. Results may be interpreted in the follow way. The positive correlation between sales revenue and costs of oil production may be explained that fact with increasing production output company costs of oil production rise too. The positive impact export oil duties on sales revenue is determined calculation method of payments. Positive coefficient of index of production indicates the nascent recovery of the real sector economy results in the increasing demand in downstream industries. Additionally, the values of future flows sales revenue in 2018-2019 were predicted. To conclude this study suggests to include the mineral extraction tax as explanatory variable that will allow estimate the effects of the tax manoeuvre.

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