The concept of oriented cohomology theory is well-known in topology. Examples of these kinds of theories are complex
cobordism, complex $K$-theory, usual singular cohomology, and Morava $K$-theories. A specific feature of these
cohomology theories is the existence of trace operators (or Thom-Gysin operators, or push-forwards) for morphisms
of compact complex manifolds. The main aim of the present article is to develop an algebraic version of the concept.
Bijective correspondences between orientations, Chern structures, Thom structures and trace structures on a given
ring cohomology theory are constructed. The theory is illustrated by singular cohomology, motivic cohomology,
algebraic $K$-theory, the algebraic cobordism of Voevodsky and by other examples.