INVESTMENT POLICY AS A DRIVER OF OIL AND GAS SECTOR DEVELOPMENT UNDER GLOBAL ENERGY TRANSITION: IMPLICATIONS FOR EMERGING ECONOMIES

Abstract

This paper examines the role of investment policy as a key driver of oil and gas sector development in the context of the global energy transition, with a particular focus on emerging economies. The study argues that under conditions of increasing decarbonization pressures, geopolitical uncertainty, and capital market volatility, effective investment policy becomes a critical instrument for sustaining industrial competitiveness. It is demonstrated that modern investment strategies in the oil and gas sector are shifting from volume-based capital attraction toward quality-oriented financing, emphasizing technological modernization, regulatory stability, and institutional efficiency. The paper highlights that emerging economies face a dual challenge of maintaining energy security while adapting to global energy transformation trends. In this regard, a well-designed investment policy serves not only as a financial mechanism but also as a structural tool for long-term sectoral resilience and sustainable economic development.