Corporate Environmental Disclosures of Oil and Gas Companies in India: An Analysis of Executives’ Perceptions

Environmental and sustainability issues have assumed significance, leading to social and legal pressures on the companies across the world to take steps to reduce and prevent adverse impact of their activities on the environment and to disclose this information to the concerned stakeholders. The present study aims at investigating the perceptions of executives from 26 listed Indian oil and gas companies on Corporate Environment Disclosures (CEDs)in the annual reports using a structured questionnaire.The questionnaire was constructed on the basis of eleven environmental indicators provided in international oil and gas industry guidelines for voluntary sustainability reporting framework. An attempt was made to determine whether the extent and type of environmental disclosures have correlation with executives’ position in the organization, their knowledge about the annual reports, their stock holdings in the company and the value stream to which the companies belonged. It was found thatthe responding executives were well aware of the environmental issues associated with activities across the value chain in the oil and gas industry. They agreed that these issues are material and must be disclosed in the annual reports, but had different perceptions on the importance of four environmental issues given in the questionnaire for disclosure in the reports. A significant statistical relationship was found between perceived corporate environmental disclosure index (PCEDI) and respondents’ positions in the company and their knowledge on the annual reports. It is suggested that a greater role to knowledgeable senior executives at key positions should be assigned to deal with sustainability disclosure affairs.

Corporate Tax Operating Cash flow and Sales Growth and their Impact on Dividend Payout Ratio in Oil and Gas Companies Listed in Karachi Stock Exchange (KSE)

Purpose: The purpose of this study is to comprehend the dynamics of dividend payout in Pakistan’s oil and gas sector. This study is an attempt to differentiate that what are factors force firms to distribute dividends instead of enhancing retained earnings. To draw the required results 13 listed oil and gas companies have been incorporated in this study and their 5 years’ data has been studied. Design/Methodology/Approach: This study is quantitative and secondary data has been used to extract results. The sources of the data are financial statements of the companies under study. Fixed and random effects of regression were used for data analysis. Findings: Based on this study, it can be concluded that the independent variables selected in this model have the power to explain the dependent variable by 45%, which means the results generated through this study can be given importance accordingly in the oil and gas sector of Pakistan. The explanatory variables were identified from the prior literature and then their impact on dividend payout ratio was studied. Implications/Originality/Value: It is evident from the results of the study that management can take necessary steps to formulate a mutually beneficial dividend policy that can enhance the strength and effectiveness of these explanatory variables to enforce a dividend policy that fulfils the expectations of both the investors and the company. The investors can also evaluate different factors that might have an impact on dividend distribution and they can also get the ability to determine dividend payout ratio which made the basis for decision making for investment in the given sector.

Improving the efficiency of organizational design in the oil and gas business

The article discusses a number of topical issues of modern organizational design. Through the analysis of the approaches of Russian and foreign scientists, the factors that need to be taken into account in organizational design are identified. Out of a multitude of factors, we have selected those that have the greatest impact in various options for the market and technological environment for an oil and gas company. Organizational schemes which can be recommended for organizing management in different market conditions are shown. A method to reconcile the influence of the basic and other factors in the organizational design process is proposed. A mechanism for constructing an organizational structure in modern conditions in oil and gas companies is proposed. In the conclusion, recommendations on the directions for further research on the problems of building organizational structures are given. Keywords: organizational structure; building organizational structures; competitiveness factors; organizational design.

Knowledge retention in oil and gas industry – the case of contract workforce

PurposeThe purpose of this article is to investigate how organization retain the knowledge of Contract Workforce (CWF) and to understand the associated challenges in this regard.Design/methodology/approachAdopting an inductive approach, 15 semi-structured interviews were conducted with senior managers, project heads and consultants working in leading oil and gas companies across eight countries (USA, Australia, UAE, KSA, Pakistan, UK, Thailand and Russia). Thematic analysis was carried out to analyze the data collected.FindingsCWF appears to be a significant source of knowledge attrition and even knowledge loss in the oil and gas sector. There are various risks associated with hiring of CWF, such as hallowing of organizational memory, repeated training of contractors, no knowledge base, workforce shortage among others which can impede the knowledge retention capability of O&G companies in the context of contract workforce. Various knowledge retention strategies for CWF have been revealed, however, there is interplay of various factors such as proportion of CWF deployed, proper resource utilization, cross-functional multi-level teams' involvement and strength of transactional ties. Maintaining strong relationships (Transactional ties) is crucial to maintain a virtual organizational memory (partial knowledge retention) and to follow a adopting a rehired when required policy.Originality/valueThe knowledge retention issue in the context of CWF has not be addressed in past researches. This article attempts to fill this gap.

Market valuation of the world's leading public oil and gas corporations as an indicator of investment attractiveness of domestic vertically integrated companies

Subject. This article explores the market valuation ratios of the twenty five leading listed oil and gas companies between 2006 and 2018. Objectives. The article aims to identify key trends in the changes in market valuations of the largest listed oil and gas companies, and identify the factors that have caused these changes. Methods. For the study, I used comparative, and financial and economic analyses, and generalization of materials of the companies' consolidated financial statements. Results. The article shows certain changes in the main indicators of market valuation of the leading listed oil and gas companies and identifies the main factors that contributed to these changes. It establishes that the most significant for comparison and valuation are ratios based on balance sheet values of assets and equity, and net sales, EBITDA, DACF and net income ratios are appropriate as auxiliary ratios. The article says that the exchange segment of the industry has increased the debt load, so instead of market capitalization as a component of the coefficients of this group, it is advisable to apply the enterprise value indicator. Conclusions and Relevance. The article concludes that the market sentiments towards the stock market segment of the global oil and gas industry are getting impaired. This is quite natural against the background of falling profitability of most leading companies. The results of the study can be useful in evaluating, forecasting and developing measures to increase the market capitalization and value of listed oil and gas companies.

Libyan politics may rattle the oil sector yet again

Significance Libya’s hydrocarbons sector has seen a period of relative stability since the end in 2020 of eastern military commander Khalifa Haftar’s military offensive against Tripoli and the formation of the Government of National Unity in early 2021. Oil and gas revenues are central to the national budget -- and their control and distribution are focal points of political contention. Impacts The main risk to oil production in 2022 is the possibility of a renewed political crisis triggered by elections. Prompt payment of salaries and fees will remain important to discouraging private security forces from closing down oil infrastructure. Foreign oil and gas companies will become more cautious about new investment.

Lessons Learned from BP: Deepwater Horizon and the Transition to Renewables

This paper analyzes the gradual transition of British Petroleum (BP), one of the world's largest oil and gas companies, into a renewable energy company focused on sustainability and the reduction of carbon emissions. BP's leadership and ethical practices are compared before and after the 2010 Deepwater Horizon disaster. The purpose of the comparison and the broader analysis of the transition is to identify how effective leadership can be used to transform a company with a suspect social responsibility record into a leader among its peers. Lessons learned from the disaster, and the subsequent transition conclude the research.

Effect Of Green Accounting On Financial Performance Of Oil And Gas Companies In Nigeria

The study examined the effect of green accounting on the financial performance of oil and gas companies 2010-2020. The specific objectives were to determine the effect of: environmental cost accounting and green management accounting on the financial performance of oil and gas companies in Nigeria. A quantitative technique was adopted and Ex post facto research design was employed for the study. Data were obtained from annual reports and accounts of the companies for the periods 2010 to 2020. The hypotheses were tested using regression analysis with aid of e-view 9.0. The results showed that environmental cost accounting has a significant effect on the financial performance of oil and gas companies. Also, the study found that green management accounting has significant effect on the financial performance of oil and gas firms. Therefore, the paper recommended that management of oil and gas companies in Nigeria should pay particular attention to environmental cost accounting to enhance the firm’s operating environment and the financial performance of the companies. Also, since most oil and gas companies hardly report their environmental activities, the government should make environmental reporting in annual reports compulsory thereby passing legislation which will compel companies to integrate environmental issues into their strategic planning process; and the publication of environmental accounting standards both locally and internationally which can be reviewed continually to ensure dynamism in compliance.