The paper discusses the importance of digital technologies integration in petroleum business. The purpose of the research is to overview innovative technologies created by Russian petroleum companies and to describe their impact on business operations. Using such methods of economic analysis as observation, information accumulation, analysis and synthesis, it is concluded that digital technologies have radically changed Russian petroleum business and gave the industry great opportunities to redefine its boundaries. The results obtained might be used to expand the knowledge in the sphere of digitalization and innovative technologies of those engaged in petroleum industry.