Comparative analysis of innovative activity of large business in Russia and the United States in terms of digitalization of the petrochemical industry

Abstract

The relevance of the study is that the innovations in the oil and petrochemical industries are not only a way to increase production of raw materials and reduce losses when searching and developing new unconventional fields, but also a tool to increase the competitive advantages of vertically integrated oil companies that are increasingly interdisciplinary. Russian petrochemical manufacturers are seeking to bring advanced digital innovations to the local market it is obvious that technology is the key to the high competitiveness in the global market. The Russian company Rosneft PJSC and the American ExxonMobil are no longer just oil-producing corporations. The scope of their activities includes such areas as deep processing of petroleum products, gas production, the production of synthetic and alternative fuels, clean energy and other areas that are characterized as the industry of the future. These areas of business require significant R&D investments, which in the future will provide companies with competitive advantages.