Influence of ownership capital structure on Refinery's operation and development

Refineries are part of the energetic structure of one country. Their significance is dependent on the geographic country position (whether it has sea exit or not), and on structure of primary energy spends in the country. According these facts, country's attitude to the refineries on its territory could be different. The possibility of ownership structure transformation in refineries and necessary legislation in the energetic sector on the state, needed for transformation realization are analyzed in this paper. Essential conditions for transformation fulfilling are protection mechanisms for domestic production in crude oil economy, manners of crude oil products price defining, and manners of excise determination and payment. As a function of these conditions, the conditions under which transformation of ownership structure in refineries is possible, as well as their influence on the operation and development of this part of energetic structure in transition country are defined in this paper. (Author)