Adaptation of the Russian oil industry to new economic conditions nteraction of transformation and globalization processes

The paper is focused on the transformation process in the context of globalization inside the oil industry. The authors demonstrated that in the course of the transformation of this sector the State (represented by both legal and executive powers) was anxious to protect an important budget and system creating role of this sector in the economy of the country, on the one hand, and had to "compensate" the reduction of the financial and economic potential of the sector by expanding of forms and opportunities of direct integration of economic units of this industry into the system of global links and relations. As it is showed by the authors, there is an indissoluble link between transformation and globalization processes inside the oil industry, and, furthermore, the globalization of the oil industry is a requirement of the survival and maintenance of its higher industrial and economic potential.