scholarly journals Lease Financing as a Performance Driver: Evidence from Oil and Gas Sector of Pakistan

2020 ◽  
Vol 8 (1) ◽  
pp. 53-61
Author(s):  
Muhammad Usman Arshad ◽  
◽  
Zahid Bashir ◽  
Muhammad Asif ◽  
Ghalib Hussain ◽  
...  
Keyword(s):  
Firm Performance ◽  
Financial Performance ◽  
Oil And Gas ◽  
Research Study ◽  
Oil And Gas Industry ◽  
Least Square ◽  
Annual Reports ◽  
Future Research ◽  
Gas Industry ◽  
Oil And Gas Sector

The sole aim of the study is to analyze the effect of the lease as a potential driver of firm’s financial performance in oil and gas industry of Pakistan. The population for the current research study comprises of 18 listed companies of oil and gas sector of Pakistan but the final sample includes only nine companies which were using lease financing. The data were collected from the annual reports of companies from the year 2013 to 2017. Lease financing is used as an independent variable while firm performance as dependent variable defined by ROA. ordinary least square method was used. The study concludes that financing through the lease is not a significant driver of financial performance in oil and gas companies of Pakistan and also negatively affecting it rather these companies heavily rely on debt financing which decreases their performance. Only the firm size has a positive and significant effect on a firm’s performance in this sector. The policy makers and management should consider lease financing as a potential factor of decreasing the firm performance in oil and gas industry of Pakistan for future consideration. The research study has considerable importance for the oil and gas sector of Pakistan as the first in this domain for the future research, especially for the lease financing

scholarly journals Skill-relatedness and employment growth of firms in times of prosperity and crisis in an oil-dependent region

2021 ◽  
pp. 0308518X2110661
Author(s):  
John-Erik Rørheim ◽  
Ron Boschma
Keyword(s):  
Firm Performance ◽  
Oil And Gas ◽  
Employment Growth ◽  
Oil And Gas Industry ◽  
Relative Performance ◽  
Gas Industry ◽  
Positive Side ◽  
Oil And Gas Sector ◽  
Shed Light

Many studies have shed light on the positive side of relatedness, but little attention has yet been devoted to possible downsides of relatedness for firm performance in regions. We found in a case study of the oil-dependent Stavanger region in Norway that plants in industries that are skill-related to the dominant oil and gas industry showed lower employment growth than plants in other industries. This was the case both in the boom and the crisis periods, even when controlling for supply linkages to the oil and gas sector. However, we also found that plants skill-related to the oil and gas industry increased their relative performance during the crisis to some degree, but they did not outperform the non-skill-related plants during the crisis.

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.

Value Co-Creation Practices in the Decommissioning of Offshore Platforms: A Case Study Approach

2021 ◽  
pp. 239496432110320
Author(s):  
Francesca Loia ◽  
Vincenzo Basile ◽  
Nancy Capobianco ◽  
Roberto Vona
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Future Research ◽  
Offshore Platforms ◽  
Gas Industry ◽  
Study Approach ◽  
Collaborative Interactions ◽  
Exploratory Approach ◽  
Italian Context

Over the years, value co-creation practices have become increasingly more important by supporting collaborative interactions and the achievement of sustainable and mutual competitive advantage between the ecosystem’ actors. In this direction, the oil and gas industry is proposing a sustainable re-use of offshore platforms based on value co-creation and resources exchange between the actors involved. According to this consideration, this work aims at re-reading the decommissioning of offshore platforms in the light of value co-creation practices, trying to capture the factors that governments and companies can leverage to pursue a sustainable development of local communities. To reach this goal, this work follows an exploratory approach by using, in particular, the case study. Specifically, one of the most notably projects in the Italian context have been chosen, the Paguro platform, in order to provide empirical insights into the nature of these value co-creation processes. Five value co-creation practices have been identified which highlight the importance of synergistic efforts of institutions, companies and technology-based platforms for improving the ability to co-create and capture value in the process of decommissioning. This exploratory work establishes a foundation for future research, and offers theoretical and managerial guidance in this increasingly important area.

scholarly journals Empirical analysis of inbound open innovation and SMEs performance: Evidence from oil and gas industry

2018 ◽  
Vol 21 (1) ◽  
Author(s):  
Yusuf O. Akinwale
Keyword(s):  
Financial Performance ◽  
Open Innovation ◽  
Measurement Errors ◽  
Structural Equation ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Petroleum Sector ◽  
External Actors ◽  
The Relationship

Background: This article contributes to existing literature by examining the relationship between inbound open innovation and firms’ financial performance in the Nigerian oil and gas industry. Aim: This article seeks to identify the factors of inbound open innovation and whether these factors influence the financial performance of small and medium-sized enterprises (SMEs) in the Nigerian oil and gas industry. Setting: This article examines 150 indigenous oil and gas SMEs in the upstream subsector of the Nigerian petroleum sector through a survey, using a questionnaire, conducted in 2015. Methods: The study applied the structural equation modelling (SEM) method. This method is used to test the relationships between the factors and to calculate the measurement errors in the hypotheses formulated. Results: The results show that technology scouting, vertical technology collaboration (VTC) and horizontal technology collaboration (HTC) positively and significantly contribute to inbound open innovation, which are thus significant in influencing the financial performance of SMEs. The size of technical staff and research and development (R&D) fund allocations also have a positive and significant correlation with the SMEs’ financial performance. Meanwhile, the age of SMEs is negative and not significant in influencing financial performance. Conclusion: The results suggest that inbound open innovation through scouting, HTC and VTC should therefore be encouraged among SMEs to boost their internal capabilities, which have hitherto enhanced their financial performance. The management members of each SME should continually consider collaboration with the external actors because they cannot singularly possess all the innovative skills required in the industry. Also, each firm should commit itself to allocate more funds to R&D and at the same time should hire those who have relevant production skills and train the existing ones in their firms.

scholarly journals Characterization of fatal injuries in oil and gas industry-related helicopter accidents in the Gulf of Mexico, 2004–2014

2020 ◽  
Vol 7 (1) ◽  
Author(s):  
Kristin Yeoman ◽  
Mary B. O’Connor ◽  
Sara Sochor ◽  
Gerald Poplin
Keyword(s):  
Lower Extremity ◽  
Gulf Of Mexico ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Body Region ◽  
Future Research ◽  
Gas Industry ◽  
Body Regions ◽  
Safety Features

Abstract Background Transportation events are the most common cause of offshore fatalities in the oil and gas industry, of which helicopter accidents comprise the majority. Little is known about injury distributions in civilian helicopter crashes, and knowledge of injury distributions could focus research and recommendations for enhanced injury prevention and post-crash survival. This study describes the distribution of injuries among fatalities in Gulf of Mexico oil and gas industry-related helicopter accidents, provides a detailed injury classification to identify potential areas of enhanced safety design, and describes relevant safety features for mitigation of common injuries. Methods Decedents of accidents during 2004–2014 were identified, and autopsy reports were requested from responsible jurisdictions. Documented injuries were coded using the Abbreviated Injury Scale (AIS), and frequency and proportion of injuries by AIS body region and severity were calculated. Injuries were categorized into detailed body regions to target areas for prevention. Results A total of 35 autopsies were coded, with 568 injuries documented. Of these, 23.4% were lower extremity, 22.0% were thorax, 13.6% were upper extremity, and 13.4% were face injuries. Minor injuries were most prevalent in the face, neck, upper and lower extremities, and abdomen. Serious or worse injuries were most prevalent in the thorax (53.6%), spine (50.0%), head (41.7%), and external/other regions (75.0%). The most frequent injuries by detailed body regions were thoracic organ (23.0%), thoracic skeletal (13.3%), abdominal organ (9.6%), and leg injuries (7.4%). Drowning occurred in 13 (37.1%) of victims, and drowning victims had a higher proportion of moderate brain injuries (7.8%) and lower number of documented injuries (3.8) compared with non-drowning victims (2.9 and 9.4%, respectively). Conclusions Knowledge of injury distributions focuses and prioritizes the need for additional safety features not routinely used in helicopters. The most frequent injuries occurred in the thorax and lower extremity regions. Future research requires improved and expanded data, including collection of detailed data to allow characterization of both injury mechanism and distribution. Improved safety systems including airbags and helmets should be implemented and evaluated for their impact on injuries and fatalities.

scholarly journals A Common Risk Classification Concept for Safety Related Gas Leaks and Fugitive Emissions?

Energies ◽  
2019 ◽  
Vol 12 (21) ◽  
pp. 4063 ◽  
Author(s):  
Log ◽  
Pedersen
Keyword(s):  
Oil And Gas ◽  
Cost Benefit ◽  
Oil And Gas Industry ◽  
Leak Rate ◽  
Future Research ◽  
Fugitive Emissions ◽  
Gas Industry ◽  
Cost Benefit Ratio ◽  
Gas Leaks ◽  
Categorization Model

Gas leaks in the oil and gas industry represent a safety risk as they, if ignited, may result in severe fires and/or explosions. Unignited, they have environmental impacts. This is particularly the case for methane leaks due to a significant Global Warming Potential (GWP). Since gas leak rates may span several orders of magnitude, that is, from leaks associated with potential major accidents to fugitive emissions on the order of 10−6 kg/s, it has been difficult to organize the leaks in an all-inclusive leak categorization model. The motivation for the present study was to develop a simple logarithmic table based on an existing consequence matrix for safety related incidents extended to include non-safety related fugitive emissions. An evaluation sheet was also developed as a guide for immediate risk evaluations when new leaks are identified. The leak rate table and evaluation guide were tested in the field at five land-based oil and gas facilities during Optical Gas Inspection (OGI) campaigns. It is demonstrated how the suggested concept can be used for presenting and analysing detected leaks to assist in Leak Detection and Repair (LDAR) programs. The novel categorization table was proven valuable in prioritizing repair of “super-emitter” components rather than the numerous minor fugitive emissions detected by OGI cameras, which contribute little to the accumulated emissions. The study was limited to five land based oil and gas facilities in Norway. However, as the results regarding leak rate distribution and “super-emitter” contributions mirror studies from other regions, the methodology should be generally applicable. To emphasize environmental impact, it is suggested to include leaking gas GWP in future research on the categorization model, that is, not base prioritization solely on leak rates. Research on OGI campaign frequency is recommended since frequent coarse campaigns may give an improved cost benefit ratio.

scholarly journals MCCG 2012 versus MCCG 2017: Board Gender Diversity and Women CEO Issues within the Male-dominated Oil and Gas Industry

2019 ◽  
Vol 10 (2) ◽  
pp. 122
Author(s):  
Dayana Mastura Baharudin ◽  
Maran Marimuthu
Keyword(s):  
Oil And Gas ◽  
Top Management Team ◽  
Gender Diversity ◽  
Oil And Gas Industry ◽  
Management Team ◽  
Annual Reports ◽  
Top Management ◽  
Gas Industry ◽  
Board Gender Diversity ◽  
The Impact

Purpose – This study investigates the impact of the two main determinants of strengthening the Board and Top Management Team through gender diversity contrasting between the pre and post MCCG 2017 era.Design/methodology/approach – The study will employ the judgmental sampling method followed by descriptive statistics, regression analysis and quantitative content analysis derived from MCCG 2012 and MCCG 2017 as issued by the Malaysian Securities Commission together with prior research to analyse the annual reports in order to explore the reporting of gender diversity across the Board and Top Management Team.Originality/value – This study is a systematic review of prior recent research developments in the Malaysian Securities Commission’s MCCG 2012 and MCCG 2017. The Board of Directors and Top Management Team scoring index could also be applied to other PLCs within the ASEAN oil and gas industry.

scholarly journals Strategic perspectives of the oil and gas sector industrial development

2021 ◽  
Vol 14 (4) ◽  
pp. 369-374
Author(s):  
O. I. Kalinskiy ◽  
M. A. Afonasiev
Keyword(s):  
Carbon Capture ◽  
Industrial Development ◽  
Oil And Gas ◽  
Storage System ◽  
Carbon Capture And Storage ◽  
Energy Transition ◽  
Oil And Gas Industry ◽  
Low Carbon ◽  
Gas Industry ◽  
Oil And Gas Sector

The authors study oil and gas industry, its condition and perspective trends of industrial development. One of them involves applying low carbon and low cost technologies. The authors introduce new strategic imperatives in oil and gas sector to perform energy transition. They study the types of categories of perspective trends of the industry’s development: scaling up the development and implementation of a carbon capture and storage system, using low carbon raw materials, making it possible to take granular measurements. The article deals with perspectives of the oil and gas industry for the current year. The perspectives are built with the consideration of the previous year’s indicators and include all the past disasters and the dynamics of their solution and the results for the society. The authors show wider implementation of drones used for abnormal emissions of hydrogen sulfide to carry out distant monitoring, observations, inspections and preventive maintenance, change tracking, methane management, emergency response and material processing. The article describes precision drilling which reduces the risk of accidents, oil spills, fires and increases rate of penetration. The authors present microwave hydraulic fracturing which can become the next significant achievement in the perspective development of the industry.

scholarly journals Iraqi Kurdistan Oil and Gas Sector: Iraqi and International Dimensions

2020 ◽  
pp. 58-67
Author(s):  
Qadir Aso Araz
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Regional Government ◽  
Legal Basis ◽  
Kurdistan Region ◽  
Gas Industry ◽  
Iraqi Kurdistan ◽  
International Aspects ◽  
Oil And Gas Sector

The article deals with the problem of the influence of the Iraqi Kurdistan oil and gas industry on the relations of the Kurdish autonomy with the central authority of Iraq. The international aspects of extraction and transportation of hydrocarbons from the territory of the Kurdistan Region are also analyzed. The legal basis for the functioning of the oil and gas complex in the region, the main differences between Erbil and Baghdad regarding the powers of the Kurdish regional government in the field of exploitation of natural resources of the autonomy is represented. It has been established that the independent activity of the Iraqi Kurdistan authorities in the development of the oil and gas industry in its territory, the wide involvement of foreign investment provided autonomy a significant source of income, which became the financial backing of Erbil in his political disputes with Baghdad. At the same time, in the question of the transportation of hydrocarbon, the landlocked Iraqi Kurdistan was critically dependent on Turkey, which greatly limits its range of options in its relations with Ankara. Excessive dependence of the Iraqi Kurdistan economy on hydrocarbon exports is one of the strategic challenges for Kurdish autonomy, but significant positive developments in this area are possible only in the long-term perspective. Keywords: Iraq, Iraqi Kurdistan, Kurdish autonomy, Turkey, oil and gas industry.

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