Modern trends in the development of the oil and gas complex: problems and prospects

The article analyzes contemporary trends in the development of the oil and gas complex under conditions of the energy transition, geo-economic fragmentation, and the transformation of regulatory regimes. The oil and gas sector is examined as an institutional form within which technological, financial, and symbolic mechanisms of industry reproduction interact. The study identifies cause-and-effect relationships between shifts in the global market environment, sanctions constraints, the evolution of contractual architectures, and the transformation of investment strategies. It is argued that the prospects of the complex depend on its capacity to integrate decarbonization requirements into a sustainable infrastructural and normative model of development.