Burlaka V. Problems of investments in the oil refining industry of the Ukraine

The subject of research is the oil refining industry in the Ukraine. The objective of the work is to establish ways and methods of investments and the development of innovative products in the Ukrainian oil industry, as well as its restructuring towards increase competitiveness. Research methods: research was based on the best and latest economic theories with regard to substantial investments, their effectiveness and targets. For the evaluation of the oil refining industry in the Ukraine methods of logical, economic statistics were applied in structured analysis. For the forecast of demand for oil and oil products the forecast statistic method was used. In order to determine possible ways of technological development of the Ukraine's oil refining companies the economic mathematical modulation method was applied. The calculation of the demand forecast for the oil and oil refining industry as well as the determination of possible ways for the technological development of the oil refining companies wasc arried out on the basis of applied mathematical models. As information basis for the research annual reports of the oil companies were studied, as well as material from the "Ukrneftechimpererabotka", State Statistic Committee and scientific publications covering research issues. Theoretical and practical results: Attention was paid to the fundamental factors constituting the formation of the Ukrainian oil and oil refining industry market, as well as the current state of the Ukrainian oil refining industry. The analysis method for the reproduction of production capacities for the oil Ukrainian refining industry and the degree of their utilization was improved. The forecast method for the demand of the Ukraine for oil and oil refining products as well as the update of earlier forecasts were improved. Prospects for long-term technological improvement of the Ukraine's oil refining industry were substantiated and sources and conditions for investment in this type of industry were established. Measure of introducti on: The main results of the dissertation were presented at the fourth congress of the International Ukrainian Economist Association (Kiev 1998). The Institute of Bioorganic Chemistry and Petrochemistry of the National Academy of Science of Ukraine used the results for the preparation of concept on the development of innovative production methods for the oil refining industry (letter № 267/118-20 - 15.03.1999) and the Chamber of Trade and Industry of the Ukraine for the monitoring of the market for oil and oil refining products as well as the oil refining industry (letter № 12/08.2-8 - 12.01.2000). The results of the research have led to concrete proposals and is recommended for practical use to the Ukrainian oil refining companies, Ministry of Economics and Chamber of Trade and Industry, to interested scientific organizations and commercial entities for the development of business plans and investment projects as well as for the establishment of joint venture companies engaged in the distribution of oil refin ing products.