Impact of investments on labour productivity in the chemical and petrochemical industry of the Republic of Kazakhstan

Issue 56, 2024

Bakyt Bayadilova, Alexandr Koichubayev, Saule Azylkanova, Zhanar Zhanabayeva, Jamilya Seitkhozhina

Received 16.09.2023, Revised 03.02.2024, Accepted 29.04.2024

https://doi.org/10.54919/physics/56.2024.170jd6

Abstract

Relevance. Currently, the petrochemical and chemical industries are one of the main areas in the international economy. That is why it is important to choose effective alternative networks by promoting investments in factories to achieve certain indicators in the field of labour. The relevance of this topic is conditioned by the fact that labour productivity in the modern environment plays a crucial role in the activities of various industries.

Purpose. The purpose of the study is to assess the correlation of investment and labour productivity in the chemical and petrochemical industry of the Republic of Kazakhstan.

Methodology. The study used several methods of scientific research, specifically: correlation and regression analysis.

Results. As a result, it was possible to explore the areas of activity responsible for the development of the chemical and petrochemical industry, namely: the development and production of oil, associated (petroleum) and natural gas, the production of chemical and petrochemical products, the production of coke and refined petroleum products, the development of rubber and plastic products. This allowed establishing the level of impact of investments on labour productivity of each of the above-mentioned sub-sectors. In addition, statistical data were investigated, based on which indicators were established reflecting the features of interaction between such components as investment, industrial development, and the improvement of professional personnel. The factors that qualitatively affect the efficiency of external market conditions for corporations are disclosed.

Conclusions. The research shows that investments in chemical products, coke, and refined petroleum are more effective than those in crude oil and natural gas production. The practical value of the study is revealed in the possibility of using the results when developing development plans for specific chemical and petrochemical enterprises in the Republic of Kazakhstan, by attracting a specific type of investment.

Keywords: energy efficiency; capital; infrastructure; productivity factors; innovation

Suggested citation

Bayadilova B, Koichubayev A, Azylkanova S, Zhanabayeva Zh, Seitkhozhina J. Impact of investments on labour productivity in the chemical and petrochemical industry of the Republic of Kazakhstan. Sci Herald Uzhhorod Univ Ser Phys. 2024;(56):1706-1717. DOI: 10.54919/physics/56.2024.170jd6

Download article

References

  1. Boaventura KM, Peixoto FC, Fernandes HLS, Pessoa FLP. Long-range investment assessment in a petrochemical industry: Cost and safety considerations. Comput Chem Eng. 2022;161:107737.
  2. Hassani H, Silva ES, Al Kaabi AM. The role of innovation and technology in sustaining the petroleum and petrochemical industry. Tech Forecast Soc Change. 2017;119:1-17.
  3. Yang G, Huang X, Huang J, Chen H. Assessment of the effects of infrastructure investment under the belt and road initiative. China Econ Rev. 2020;60:101418.
  4. Samuel VB, Agamuthu P, Hashim MA. Indicators for assessment of sustainable production: A case study of the petrochemical industry in Malaysia. Ecol Indic. 2013;24:392-402.
  5. Valizadeh J, Sadeh E, Javanmard H, Davodi H. The effect of energy prices on energy consumption efficiency in the petrochemical industry in Iran. Alex Eng J. 2018;57(4):2241-2256.
  6. Karabayev D. National Company KazMunayGas. FY2021 Operational and financial results; 2022. https://www.kmg.kz/upload/iblock/326/%D0%9F%D1%80%D0%B5%D0%B7%D0%B5%D0%BD%D1%82%D0%B0%D1%86%D0%B8%D1%8F_12%D0%9C_2021.pdf
  7. Wang Zh, Zhang M, Ageli MM. Revisiting resource curse hypothesis and sustainable development: Evaluating the role of financial risk for USA. Resour Policy. 2022;79:102970.
  8. Calvillo C, Race J, Chang E, Turner K, Katris A. Characterisation of UK industrial clusters and techno-economic cost assessment for carbon dioxide transport and storage implementation. Int J Greenhouse Gas Control. 2022;119:103695.
  9. Doroshkevich AS, Lyubchyk AI, Islamov AK, Turchenko VA, Glazunova VA, Zelenyak TYu, Burkhovetskiy VV, Shylo AV, Balasoiu M, Saprykina AV, Ohmura S, Lygina OS, Lyubchyk SI, Konstantinova TE, Lakusta MV, Bodnarchuk VI, Lyubchyk SB, Bacherikov YY, Aliyeva Y, Kholmurodov KT. Nonequilibrium chemo-electronic conversion of water on the nanosized YSZ: Experiment and Molecular Dynamics modelling problem formulation. J Phys Conf Ser. 2017;848(1):012021.
  10. Ismayilov GG, Iskandarov EK, Ismayilova FB, Hacizade SG. Analysis of the Gas Pipelines Operation Based on Neural Networks. Adv Intell Syst Comput. 2021;1306:403-408.
  11. Zhu X, Zhu L. Analysis on the relation between strengthening internal management and economic benefit of China’s petrochemical enterprises under the restriction of market environment. J Phys Conf Ser. 2020;1622:012080.
  12. Galeeva GM. Problems of increasing the efficiency of using fixed and working capital of petrochemical enterprises. J Phys Conf Ser. 2021;2090:012121.
  13. Al-Samhan M, Al-Fadhli J, Al-Otaibi AM, Al-Attar F, Bouresli R, Rana MS. Prospects of refinery switching from conventional to integrated: An opportunity for sustainable investment in the petrochemical industry. Fuel. 2022;310(B):122161.
  14. Kryukov VA, Shmat VV. Russian petrochemical industry in space and time. Stud Russ Econ Dev. 2020;31:629-635.
  15. Tikhonova LP, Goba VE, Kovtun MF, Tarasenko YuA, Khavryuchenko VD, Lyubchik SB, Boiko AN. Sorption of metal ions from multicomponent aqueous solutions by activated carbons produced from waste. Russ J Appl Chem. 2008;81(8):1348-1355.
  16. Deryaev AR. Features of the construction of directional deep wells in Turkmenistan. Neft Khoz Oil Indust. 2024;2024(2):43-47.
  17. Lyubchyk A, Filonovich SA, Mateus T, Mendes MJ, Vicente A, Leitão JP, Falcão BP, Fortunato E, Águas H, Martins R. Nanocrystalline thin film silicon solar cells: A deeper look into p/i interface formation. Thin Sol Film. 2015;591:25-31.
  18. Litynska M, Dontsova T, Gusak A. Nanostructured Iron-Based Sorption Materials for Drinking Water and Wastewater Treatment. Spring Proceed Phys. 2023;279:243-255.
  19. Bagasharova ZT, Abdelmaksoud AS, Abdugaliyeva GY, Sabirova LB, Moldabayeva GZ. Recovery of water aquifers after the impact of in-situ leaching of Uranium. Int Multidiscip Sci GeoConf Surv Geo Min Eco Manag SGEM. 2015;1(4):19-26.
  20. Makarova TL, Zakharchuk I, Geydt P, Lahderanta E, Komlev AA, Zyrianova AA, Lyubchyk A, Kanygin MA, Sedelnikova OV, Kurenya AG, Bulusheva LG, Okotrub AV. Assessing carbon nanotube arrangement in polystyrene matrix by magnetic susceptibility measurements. Carb. 2016;96:1077-1083.
  21. Deryaev AR. Investigation of the properties of fine clays in the fields of Turkmenistan for the development of drilling fluids. Neft Khoz Oil Indust. 2024;2024(3):46-50.
  22. Ismayilov GG, Iskenderov EK, Ismayilova FB. Problems of Hydrodynamic Corrosion in Multiphase Pipelines. Protect Met Phys Chem Surf. 2021;57(1):147-152.
  23. Ma Y, Zhang Q, Yin H. Environmental management and labor productivity: The moderating role of quality management. J Environ Manage. 2020;255:109795.
  24. Li Y, Ding Y, Cao M. Optimization of energy-saving distillation system of absorption heat pump based on intermediate heat exchange. Appl Therm Eng. 2022;213:118721.
  25. Liu PJ, Song C, Xin J. Does green governance affect financing constraints? Evidence from China’s heavily polluting enterprises. China J Account Res. 2022;15(4):100267.
  26. Omshanova E. Preferential regimes to ensure investment and innovation activity. IOP Conf Ser Earth Environ Sci. 2021;650:012048.
  27. Chen FW, Tan Y, Chen F, Wu YQ. Enhancing or suppressing: The effect of labor costs on energy intensity in emerging economies. Energy. 2021;214:118964.
  28. Leybert TB, Khalikova EA. Evaluation of investment design solution efficiency and risk analysis in petrochemical industry. In: E. Popkova (Ed.), Business 4.0 as a subject of the digital economy (pp. 537-543). Cham: Springer; 2022.
  29. de Penalva Santos DCL, Correa C, Alves YA, Souza CG, Mancebo Boloy RA. Brazil and the world market in the development of technologies for the production of second-generation ethanol. Alex Eng J. 2022;67:153-170.
  30. Decree of the Government of the Republic of Kazakhstan No. 1001 “On approval of the Program for the development of the chemical industry of the Republic of Kazakhstan for 2010-2014”; 2010. https://adilet.zan.kz/rus/docs/P1000001001
  31. Oryngozhin YS, Moldabayeva GZ, Igembaev IB. Innovative method of high-viscosity oil production. 12th Int Multidiscip Sci GeoConf EXPO Mod Manag Min Produc Geo Environ Protect SGEM 2012. 2012;2:463-470
Make a Submission

Indexing

info@physics.uz.ua