Current problems of Europe

European and Russian oil companies: Innovations as an instrument of hypercompetition

Цокиев С.Р.

Tsokiev S.R. – competitor for academic degree in Russian university of oil and gas, vice-chief of department, Belkam Neft Company

Abstract

Hypercompetition as a new phenomenon in opposition between corporations and states is discussed. Strategy and some instruments competition of US and European companies are revealed. Conclusion is made that Russian oil companies are still at the beginning of finding the strategy and instruments of the global hypercompetition.

Keywords

Hypercompetition, instruments of competition, global strategy, economic expansion, technological innovations.

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