A systems approach to the strategy of managing the oil and gas region’s economic development

Subject. This article discusses the issues related to innovation activities in the oil and gas industry, the structure and changes in oil and gas exports, and the ecological and economic balance of industrial production and the carbon market. Objectives. The article aims to develop a systems approach to managing the economic development of the oil and gas region, taking into account the uncertainty regarding exports and the carbon neutrality paradigm. Methods. For the study, I used the general scientific research methods. Results. The article finds that solving economic and production problems of the regional fuel and energy complex is possible based on the application of damping mechanisms for regulating the internal market of petroleum products. It proposes a cyclical equilibrium managerial model for the strategy of economic development of the oil and gas region, which envisages the creation of an inclusive institutional environment and the formation of a circular economy. Conclusions. When designing programmes for the development of oil and gas regions in Russia, it is necessary to take into account the high volatility of oil and gas prices in the global commodity markets and the technological embargo factor.