scholarly journals Problems of Innovative Development of Oil Companies: Actual State, Forecast and Directions for Overcoming the Prolonged Innovation Pause

Energies ◽  
2021 ◽  
Vol 14 (4) ◽  
pp. 837
Author(s):  
Yana Matkovskaya ◽  
Elena Vechkinzova ◽  
Yelena Petrenko ◽  
Larissa Steblyakova
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Graphical Analysis ◽  
Actual State ◽  
Innovative Development ◽  
Gas Industry ◽  
Oil Companies ◽  
Oil Sector ◽  
Oil And Gas Companies ◽  
Oil And Gas Sector

The study of the rates of innovative development of various sectors of the modern economy makes it possible to determine the existence of a scientific and practical problem, eliciting the need for urgent identification of the reasons for non-innovative development of Oil and Gas Companies and development of the directions for innovation development. Based on a number of methods, including methods of graphical analysis, time series forecasting, construction of linear trends, correlation analysis and scenario forecasting, the authors stated the fact of the serious depth of the problem of innovative insufficiency in the oil sector in comparison with other sectors and they built six scenarios for the development of these companies. The applied methods made it possible to not only come to the conclusion that with the current level of investment in R&D in the oil and gas sector, Oil Companies may find themselves in difficult conditions, especially if breakthrough technologies show themselves in the non-hydrocarbon energy of the future, but also made it possible to determine the most important directions for the development of Oil Companies, including the formation and development of the oil and gas industry 4.0, marketing strategic management of the activities of these companies.

Turning potential collision into cooperation in Ghana’s oil industry

2015 ◽  
Vol 10 (2) ◽  
pp. 118-131 ◽  
Author(s):  
Kwesi Amponsah-Tawiah ◽  
Kwasi Dartey-Baah ◽  
Kobena Osam
Keyword(s):  
Oil And Gas ◽  
Oil Industry ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Content Type ◽  
Oil Companies ◽  
Critical Issues ◽  
Oil Sector ◽  
Stakeholder Interactions ◽  
Corporate Social

Purpose – This paper aims to examine the potential impact of the presence of oil resource on the Ghanaian society. Specifically, the paper investigates the relationship between key stakeholders in the oil sector, how stakeholder interactions create the potential for collision and advances measures aimed at turning possible collision into cooperation. Design/methodology/approach – The paper uses a literature review-based approach, drawing on existing literature in a number of areas including corporate social responsibility (CSR), oil and gas industry in Ghana and Nigeria as well as communication. Findings – The paper advances that expectations of stakeholders as regards oil being a panacea to all their problems must be managed to avoid possible collision. Additionally, Ghana’s oil industry must identify and engage all stakeholders in planning suitable and sustainable CSR programmes for economic development, thus fostering a friendly environment for oil companies. Transparency and accountability are also needed to promote cooperation rather than collision among stakeholders in Ghana’s oil industry. Originality/value – This paper raises and brings to the fore critical issues that can lead to potential collisions in the oil and gas industry in Ghana if not well-managed, and thus an innovative work in that regard.

The Financial Significance of the Oil and Gas Sector for the Russian Economy

2012 ◽  
pp. 76-91
Author(s):  
L. Eder ◽  
I. Filimonova
Keyword(s):  
Oil And Gas ◽  
Federal Budget ◽  
Oil And Gas Industry ◽  
International Markets ◽  
Balance Of Payments ◽  
Financial Indicators ◽  
Gas Industry ◽  
Russian Economy ◽  
Oil And Gas Companies ◽  
Oil And Gas Sector

The article describes the complex of economic and financial indicators reflecting the results of Russia’s oil and gas industry in 2011. Price environment of the major energy resources with regard to their realization at the domestic and international markets is analyzed. Main indicators of economic performance of the oil and gas industry (revenue, profit, profitability) are reviewed with differentiation by companies. The authors consider the tax burden for the oil and gas companies; show their role in forming federal budget revenues. The paper presents the analysis of specialized funds and reserves that are formed at the expense of oil and gas industry sources; examines Russia’s balance of payments as well as revenues generated by oil and gas exports. The stock market structure of Russia and the world is described with consideration of particular oil and gas companies.

Improving Offshore Platform Production With Artificial Intelligence

2021 ◽  
Author(s):  
Philippe Herve
Keyword(s):  
Artificial Intelligence ◽  
Carbon Emissions ◽  
Oil And Gas ◽  
New Technologies ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Carbon Neutrality ◽  
Oil And Gas Companies ◽  
Oil And Gas Sector

Abstract The oil and gas sector is facing a changing market with new pressures to which it must learn to adapt. One of the biggest changes in expectations is the increased focus being placed on carbon emissions. Many consumers, investors, and lawmakers see reforms to the oil and gas industry as one of the most important avenues toward reducing carbon emissions and curbing climate change, and accordingly, a large number of companies have already made ambitious pledges towards carbon neutrality. New technologies may offer the best avenue for oil and gas companies to reduce their carbon emissions and meet those neutrality goals. Digital technologies—and in particular, artificial intelligence—can aid in decarbonization even with relatively small investments, primarily by enabling large increases in efficiency and reducing unscheduled downtime and the need for flaring. This paper discusses how artificial intelligence-powered predictive maintenance can be applied to reduce carbon emissions, and a case study illustrating a real-world deployment of this technology.

Oil and gas

2019 ◽  
pp. 347-362
Author(s):  
John Child ◽  
David Faulkner ◽  
Stephen Tallman ◽  
Linda Hsieh
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
The Political ◽  
Host Countries ◽  
Gas Industry ◽  
Oil Companies ◽  
Legitimate Concern ◽  
Speed Up ◽  
Environmentally Sensitive ◽  
Oil And Gas Companies

After an introduction to the oil and gas industry and its structure, Chapter 15 notes how economic pressures have motivated the formation of alliances. It then identifies different types of alliance in the sector, the motives for forming them, and the benefits that are expected to result. Oil and gas alliances involve nationally strategic and environmentally sensitive assets, and this chapter illustrates the political pressures which they can experience as a result. While there is legitimate concern in host countries about the exploitation of national assets by international oil companies, such companies may also face pressures that stem from political opportunism and corruption. The chapter closes by noting how forming alliances with IT providers to speed up digital applications has become an essential strategy for many oil and gas companies.

scholarly journals The Concept of Sustainable Development of the Oil and Gas Sector as One of the Subsystems of Noonomics

2020 ◽  
Vol 6 (4) ◽  
pp. 278-286
Author(s):  
A. S. Fomenko
Keyword(s):  
Sustainable Development ◽  
Oil And Gas ◽  
Time Factors ◽  
Oil And Gas Industry ◽  
Gas Production ◽  
Oil Refining ◽  
Gas Industry ◽  
Oil And Gas Production ◽  
Oil Companies ◽  
Oil And Gas Sector

This work is devoted to the study of a new way of development of the oil and gas industry, which is due to the influence of many factors of our time. Factors such as limited resources, an increase in the anthropogenic and technological load on the environment, and the risks associated with the complexity of the oil refining process itself, require a fundamentally different solution, which is fully provided by noonomics. It is shown that sustainable development based on the principles of noonomics reduces the role and significance of material factors in the production process of vertically integrated oil companies and the oil and gas industry as a whole, highlighting scientificand technological progress in oil and gas production and their processing.

Networks, trust and capital mobilisation: challenges of embedded local entrepreneurial strategies in Ghana's oil and gas industry

2015 ◽  
Vol 53 (3) ◽  
pp. 391-413 ◽  
Author(s):  
Austin Dziwornu Ablo ◽  
Ragnhild Overå
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Business Environment ◽  
Local Participation ◽  
Gas Industry ◽  
Oil Companies ◽  
Reduce Risk ◽  
Entrepreneurial Strategies ◽  
Entrepreneurial Activities ◽  
Oil And Gas Sector

ABSTRACTIn December 2010 Ghana pumped its first oil and a local content law was passed in 2013 to promote local participation in the oil and gas industry. This paper examines Ghanaian entrepreneurial activities and the dynamics of local participation in the emerging oil and gas sector. We explore Ghanaian entrepreneurs' strategies of mobilising networks to acquire information, build trust, raise financial capital and reduce risk with the aim to gain entry, win contracts and participate in the oil and gas industry. We argue that the resources and strategies activated by entrepreneurs embedded in the context of the Ghanaian business environment are inadequate and problematic when deployed in the context of the international oil and gas industry. The international oil companies' cost-intensive standard requirements and state officials' informal interventions further limit local firms' prospects for participation in the oil and gas industry.

scholarly journals Analisis Kualitatif Nilai Ekspor Migas Indonesia Dan Kepemilikan Blok Migas Oleh Perusahaan Asing Di Indonesia

2014 ◽  
Vol 1 (1) ◽  
pp. 87-101
Author(s):  
Prima Gandhi
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Economic Resources ◽  
Gas Industry ◽  
Oil Companies ◽  
Foreign Companies ◽  
Foreign Corporations ◽  
Oil And Gas Companies ◽  
Foreign Corporation ◽  
Sector Data

The post conference of Time Life Corp in Geneva and the enactment of the Foreign Investment Act of 1967, foreign corporations began to exploit oil and gas in Indonesia. At first, the foreign corporation only managed the upstream oil and gas business. However, the oil and gas Act number 22 of 2001 made the foreign corporations do the business in the downstream sector. Data from the Ministry of Energy and Mineral showed that there was 69.9 percent of foreign domination in the Indonesian oil and gas industry. Other data showed that the value of exports of oil and gas in Indonesia decreased by the end of July 2013. The existence of these two phenomena of economic resources made the author try to examine the relation between the ownership of oil and gas blocks by foreign companies and the level of oil and gas export value in Indonesia using qualitative methods with critical paradigm. As a result, the number of oil and gas companies in Indonesia was influenced by the attitudes and government regulations, the state of technology and state of the Indonesian economy. The low value of oil and gas exports was as the result of exporting crude oil price with lower pricecompared to that of processed oil. The existence and the number of foreign oil companies influenced the level of oil and gas export value of Indonesia. The more dominated growing number of foreign companies in Indonesia, the less export value of the Indonesian oil and gas would be.

scholarly journals Analysis of the development of Oil and Gas Industry in present conditions

2019 ◽  
Vol 16 (6) ◽  
pp. 29-36 ◽  
Author(s):  
E. I. Larionova ◽  
T. I. Chinaeva ◽  
E. P. Shpakovskaya
Keyword(s):  
Exchange Rate ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Oil Price ◽  
Financial Indicators ◽  
Gas Industry ◽  
Oil Companies ◽  
The Exchange Rate ◽  
Oil Sector ◽  
Return On Sales

Purpose of the study. This study examines the state of companies of oil sector based on the analysis of dynamics and relationship between basic financial indicators, characterizing the activities of oil companies; it identifies factors affecting the companies’ efficiency, such as return on sales (ROS) and productivity. The work is based on dynamic, structural, correlation analysis of analytical and statistical information on processes occurring in this area of economic activity.Materials and methods. Statistical data and analytical information on oil sector companies serve as the information base of this study. Statistical methods of information analysis (comparative analysis, analysis of time series, correlation, and regression analysis) represent the methodological base of research.Results. The authors analyzed the development trends of the global and Russian oil and gas sectors. The last two decades have been marked by changes in the global oil market that were caused by fluctuations in the price of oil and oil products and with the rise and fall in the price of Brent crude oil per barrel.The paper considers dynamics of financial indicators of Russian oil companies. An analysis of the data on the revenue of the largest Russian companies in ruble and dollar terms over the last 10 years has revealed a significant difference in the dynamics of these indicators. The authors performed ROS and oil price profitability correlation as well as correlation between the price of oil, the exchange rate and the profitability of oil companies.Conclusion. The oil and gas industry is an essential sector of the economy that heavily promotes to the socio-economic development of our country. Revenues of the oil and gas sector contribute to the Russian GDP and are a major component of the budget. There are two ways to calculate revenue of oil companies – in ruble (dollar terms) and impact of RUB/USD exchange rate. The sharp changes in the exchange rate of the last decade have advanced significant changes in the revenue of Russian oil companies.In this study, the total revenue (in dollar terms) was calculated as the ratio of revenue in rubles to the average annual exchange rate of the corresponding period. In general, the disastrous results of 2015 and 2016 led to a decrease in the average growth rates of dollar and ruble revenue, as well as profit and profitability.The authors performed a correlation analysis of return on sales and oil prices, which revealed an almost total absence of correlation between these indicators. Oil prices and exchange rates have a negligible effect on the profitability of oil companies. An inverse correlation is observed between the RUB/USD pair and the oil price per barrel. It is concluded that the cost of oil and the exchange rate have little effect on the profitability of oil companies.Since the oil and gas complex makes a very significant contribution to the development of the country’s economy, it is advisable to analyze its development trends on a regular basis. Based on the results of the economic and statistical analysis of financial indicators, it is possible to identify the main development directions of the oil and gas industry, evaluate positive and negative processes, and determine further prospects.

Trends and Prospects of Development of the Oil and Gas Sector in the Context of Digitalization

2020 ◽  
Vol 26 (1) ◽  
pp. 35-45 ◽  
Author(s):  
A. G. Kazanin
Keyword(s):  
Oil And Gas ◽  
Digital Technologies ◽  
Oil And Gas Industry ◽  
Global Market ◽  
The Arctic ◽  
Business And Society ◽  
Gas Industry ◽  
Exploration And Production ◽  
Oil And Gas Sector

The modern oil and gas industry is heavily dependent on the processes and trends driven by the accelerating digitalization of the economy. Thus, the digitalization of the oil and gas sector has become Russia’s top priority, which involves a technological and structural transformation of all production processes and stages.Aim. The presented study aims to identify the major trends and prospects of development of the Russian oil and gas sector in the context of its digitalization and formation of the digital economy.Tasks. The authors analyze the major trends in the development of the oil and gas industry at a global scale and in Russia with allowance for the prospects of accelerated exploration of the Arctic; determine the best practices of implementation of digital technologies by oil and gas companies as well as the prospects and obstacles for the subsequent transfer of digital technologies to the Russian oil and gas industry.Methods. This study uses general scientific methods, such as analysis, synthesis, and scientific generalization.Results. Arctic hydrocarbons will become increasingly important to Russia in the long term, and their exploration and production will require the implementation of innovative technologies. Priority directions for the development of many oil and gas producers will include active application of digital technologies as a whole (different types of robots that could replace people in performing complex procedures), processing and analysis of big data using artificial intelligence to optimize processes, particularly in the field of exploration and production, processing and transportation. Digitalization of the oil and gas sector is a powerful factor in the improvement of the efficiency of the Russian economy. However, Russian companies are notably lagging behind in this field of innovative development and there are problems and high risks that need to be overcome to realize its potential for business and society.Conclusions. Given the strategic importance of the oil and gas industry for Russia, its sustainable development and national security, it is recommendable to focus on the development and implementation of digital technologies. This is crucial for the digitalization of long-term projection and strategic planning, assessment of the role and place of Russia and its largest energy companies in the global market with allowance for a maximum number of different internal and external factors.

EBITDA and DACF multipliers as an indicator of investment attractiveness of domestic vertically integrated companies

2021 ◽  
Vol 20 (4) ◽  
pp. 718-752
Author(s):  
Oleg V. SHIMKO
Keyword(s):  
Oil And Gas ◽  
Stock Exchange ◽  
Oil And Gas Industry ◽  
Financial Economic ◽  
Consolidated Financial Statements ◽  
Gas Industry ◽  
Debt Burden ◽  
Fixed Assets ◽  
Settlement Agreements ◽  
Oil And Gas Companies

Subject. The article addresses the EV/EBITDA and EV/DACF ratios of the twenty five largest public oil and gas corporations from 2008 to 2018. Objectives. The purpose is to identify key trends in the value of EV/EBITDA and EV/DACF ratios of biggest public oil and gas corporations, determine factors resulted in the changes over the studied period, and establish the applicability of these multipliers for assessing the business value within the industry. Methods. I apply methods of comparative and financial-economic analysis, and generalization of consolidated financial statements data. Results. The study revealed that EV/EBITDA and EV/DACF multiples are acceptable for valuing oil and gas companies. The EV level depends on profitability, proved reserves, and a country factor. It is required to adjust EBITDA for information on impairment, revaluation and write-off for assets that are reported separately from depreciation, depletion and amortization costs, as well as for income or expenses arising after the sale of fixed assets and as a result of effective court decisions or settlement agreements. It is advisable to adjust DACF for income, expenses and changes in assets and liabilities, which are caused by events that are unusual for oil and gas companies. Conclusions. The application of EV/EBITDA and EV/DACF multiples requires a detailed analysis and, if necessary, adjustments of their constituent components. However, they are quite relevant in the context of declining profitability and growing debt burden in the stock exchange sector of the global oil and gas industry.

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