本研究之目的係針對俄羅斯石油公司進入海外市場的直接投資模式進行探討，找出影響俄羅斯石油公司進入模式選擇的重要因素。本研究以石油產業為研究的對象，首先討論俄羅斯石油產業發展情況，其次以個案分析俄羅斯石油企業海外直接投資進入模式及其影響因素。整合相關文獻，本研究認為從母國因素、地主國因素，對外直接投資的四項動機因素探討俄羅斯石油公司選擇海外直接投資之進入模式。此外，本研究也針對該國石油產業中的兩間大型公司「盧克（Lukoil）石油公司」與「俄羅斯（Rosneft）石油公司」所選擇的進入模式，進行比較分析。

    本研究發現，由於俄羅斯石油企業面對競爭力激烈的國內市場，因而向海外市場尋求發展，主要的石油公司包括：盧克石油公司、俄羅斯石油公司、蘇爾古特（Surgutneftgaz）石油暨天然氣公司、俄羅斯天然氣暨石油（Gazprom Neft）公司、秋明—英國石油（TNK-BP）公司。俄羅斯石油公司進行對外直接投資活動的初期，藉由地域上的連結性與文化上的共通性，前往鄰近地區發展，建立生產基地，隨後再前往歐美國家進行更進一步的佈局。

The goals of this thesis are as follows, to analyze the models for foreign direct investment(FDI) of Russian oil Enterprises, and to find out the factors that influence the selection of entry mode. The oil industry is the object of this study. First of all, discussing the development of Russian oil industry, and then analyzing the entry modes and influences of Russian oil companies. Compiling all previous studies referring to the topic, the thesis concludes on home country, host country, and four incentives of FDI. In addition, the thesis to analyze entry modes of private oil company “Lukoil” and State-owned oil company “Rosneft”, the result analyzed is as follows, and find out the factors that influence the selection of entry mode.
 
     The conclusions of thesis are listed as follows, due to domestic competition and investment climates, Russian oil Enterprises must participate in investment abroad. The main oil companies in Russia includes, Lukoil, Rosneft, Surgutneft gaz, Gazpromneft and TNK-BP. Initially, these companies carried on FDI in neighboring countries by means of the connection to the region, compatibility of their culture, and an established production base. Afterwards, they began to investment in developed countries by adjusting their investment objectives and results improved.

目錄
第一章	緒論 
　　　第一節　研究動機與的 1
　　　第二節　研究方法  3
　　　第三節　研究範圍與限制  5
      第四節  研究架構  7
第二章	文獻探討 
      第一節  折衷理論  9
      第二節  對外直接投資進入模式 • 20
      第三節  文獻述評 24
第三章	俄羅斯石油產業對外直接投資分析
      第一節  俄羅斯企業對外直接投資情況  31
      第二節  俄羅斯企業海外直接投資之動機探討 • 39
      第三節  俄羅斯石油產業發展情況  46
      第四節  小結  71
第四章	個案分析 
     第一節   盧克石油公司  73
     第二節   俄羅斯石油公司  90
     第三節   差異性比較  100
     第四節   小結  104
第五章	 研究結論 
     第一節   研究發現  107
     第二節   後續研究建議  112
參考文獻 113


圖表目錄
圖1.1.研究流程圖  8
圖3.1.俄羅斯公司對外直接投資之因素 29
圖3.2.俄羅斯對外直接投資存量33
圖3.3.俄羅斯跨國公司海外投資之產業分部圖 47
圖3.4.俄羅斯石油儲量，2000-2008年  48
圖3.5.2006年俄羅斯石油公司原油產量一覽表  52
圖3.6.Lukoil公司石油產品出口地區結構  54

表2.1.Dunning對外投資進入模式所需優勢  12
表2.2.Dunning三種優勢變數分類表  15
表2.3.進入模式特性之比較  20
表3.1.俄羅斯外國直接投資之流入與流出  33
表3.2.俄羅斯外國直接投資存量之流入與流出  33
表3.3.俄羅斯跨國公司之類別  36
表3.4.俄羅斯對外直接投資計畫數量表  39
表3.5.俄羅斯公司對外直接投資關鍵性因素  44
表3.6.俄羅斯原油出口路線及出口量一覽表，2006-2007年  50
表3.7.Lukoil公司原油出口量一覽表  53
表3.8.Lukoil公司石油產品出口量一覽表  54
表3.9.Lukoil公司年度財務資料  55
表3.10.Rosneft公司原油出口量一覽表  56
表3.11.Rosneft公司石油產品出口量一覽表 57
表3.12.Rosneft公司年度財務資料  58
表3.13.TNK-BP公司原油出口量一覽表  58
表3.14.TNK-BP公司石油產品出口量一覽表  59
表3.15. TNK-BP公司年度財務資料  60
表3.16 Surgutneftegaz公司煉油及石油產品量一覽表  61
表3.17 Surgutneftegaz公司年度財務資料  62
表3.18. Gazprom Neft公司原油出口量一覽表  63
表3.19. Gazprom Neft公司石油產品出口量一覽表  64
表3.20. Gazprom Neft公司年度財務資料  64
表4.1.俄羅斯跨國企業海外資產總排名表  74
表4.2. Lukoil公司海外上游經營活動一覽表  76
表4.3. Lukoil公司海外直接投資個案表  80
表4.4. Rosneft公司對外直接投資個案表  93

中文
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林正義 編，（2007），《石油與國際安全》，台北市：遠景基金會。
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