scholarly journals Disclosure of provisions for decommissioning costs in annual reports of oil and gas companies: A content analysis and stakeholder views

2018 ◽  
Author(s):  
Hafez Abdo ◽  
Musa Mangena ◽  
Graham Needham ◽  
David Hunt
Keyword(s):  
Content Analysis ◽  
Oil And Gas ◽  
Annual Reports ◽  
Stakeholder Views ◽  
Oil And Gas Companies

Analyzing the figures of consolidated statement of cash flows of the world's biggest publicly traded oil and gas corporations

2020 ◽  
Vol 19 (6) ◽  
pp. 1101-1120
Author(s):  
O.V. Shimko
Keyword(s):  
Public Sector ◽  
Cash Flow ◽  
Oil And Gas ◽  
Cash Flows ◽  
Annual Reports ◽  
Capital Expenditures ◽  
Publicly Traded ◽  
The Public ◽  
Statement Of Cash Flows ◽  
Oil And Gas Companies

Subject. The article investigates key figures disclosed in consolidated cash flow statements of 25 leading publicly traded oil and gas companies from 2006 to 2018. Objectives. The focus is on determining the current level of values of the main components of consolidated statement of cash flows prepared by leading publicly traded oil and gas companies, identifying key trends within the studied period and factors that led to any transformation. Methods. The study draws on methods of comparative and financial-economic analysis, as well as generalization of materials of consolidated cash flow statements. Results. The comprehensive analysis of annual reports of 25 oil and gas companies enabled to determine changes in the key figures and their relation in the structure of consolidated cash flow statements in the public sector of the industry. It also established main factors that contributed to the changes. Conclusions. In the period under study, I revealed an increase in cash from operating activities; established that capital expenditures in the public sector of the industry show an overall upward trend and depend on the level of oil prices. The analysis demonstrated that even integrated companies’ upstream segment prevail in the capital expenditures structure. The study also unveiled an increase in dividend payments, which, most of the time, exceeded free cash flows thus increasing the debt burden.

Analyzing the liquidity ratios of the world's leading public oil and gas corporations

2020 ◽  
Vol 26 (7) ◽  
pp. 1571-1589 ◽  
Author(s):  
O.V. Shimko
Keyword(s):  
Public Sector ◽  
Oil And Gas ◽  
Comprehensive Analysis ◽  
Annual Reports ◽  
Main Factors ◽  
Economic Analyses ◽  
Oil And Gas Companies

Subject. This article explores the key liquidity figures of the twenty five largest public oil and gas companies between 2006 and 2018. Objectives. The article aims to determine the current values of the key liquidity figures of the largest public oil and gas companies, identify key trends in their changes within the study period, and identify the factors that have caused these changes. Methods. For the study, I used comparative, and financial and economic analyses, and generalization. Results. Based on a comprehensive analysis of the twenty five oil and gas companies' annual reports, the article identifies trends in the changes in the key liquidity indexes in the industry's public sector, and establishes the main factors that affected these changes. Conclusions and Relevance. The largest public oil and gas companies are able to maintain their own liquidity in times of crisis, even. The industry pays the most attention to increasing the instant liquidity ratios. The results of the study can be used to evaluate, forecast, and develop measures to enhance the liquidity of public oil and gas companies.

scholarly journals Audit Firm Type and Sustainability Performance: A Study of Quoted Oil and Gas Marketing Companies in Nigeria

2021 ◽  
Vol 1 (1) ◽  
pp. 55-68
Author(s):  
Aminu Abdullahi ◽  
Oladele Jami’u Olanrewaju ◽  
Moshud Nurudeen Mohammed
Keyword(s):  
Health Care ◽  
Oil And Gas ◽  
Stock Exchange ◽  
Annual Reports ◽  
P Value ◽  
Audit Firm ◽  
Sustainability Performance ◽  
Firm Type ◽  
Oil And Gas Companies ◽  
The Impact

The study specifically examines the impact of audit firm types on sustainability performance effort (health care, employment and education) of quoted oil and gas marketing company in Nigeria. The population of the study consists of all the 13 oil and gas marketing companies quoted on the Nigeria Stock Exchange as at end of the year 2020. Secondary data was sourced from the annual reports and accounts of the sampled companies for the period of  5 years (2016-2020). The dependent variables for the study were Sustainability Performance effort proxied by expenditure on education, employment and health care by the oil and gas companies, while the independent variable was audit firm type. A panel regression model was employed for the analysis as the data cuts across different firms over periods. The results revealed that there is no significant relationship between audit firm type and sustainability performance. This is evident from the p-value of 0.554 which is related to audit firm type and health care. Also, the result of the audit firm and education revealed a p-value of 0.422 and that of audit firm type and employment 0.364. This result provided a basis for rejecting all the hypotheses. The study therefore, recommends that the oil and gas companies should continue to undertake their responsibility in the sustainability performance without any reference to whether they are being audited by any type of audit firm

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

2021 ◽  
Vol 16 (3) ◽  
pp. 861-879
Author(s):  
Kishore Kanti Majumdar ◽  
Shuchi Pahuja
Keyword(s):  
Value Chain ◽  
Oil And Gas ◽  
Environmental Issues ◽  
Oil And Gas Industry ◽  
Environmental Indicators ◽  
Annual Reports ◽  
Gas Industry ◽  
Sustainability Disclosure ◽  
Environmental Disclosures ◽  
Oil And Gas Companies

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.

scholarly journals ENVIRONMENTAL COST AND FINANCIAL PERFORMANCE OF OIL AND GAS COMPANIES IN NIGERIA

2015 ◽  
pp. 1-24
Author(s):  
Chiamogu Anselm ◽  
Janefrances Okoye
Keyword(s):  
Community Development ◽  
Financial Performance ◽  
Environmental Remediation ◽  
Oil And Gas ◽  
Environmental Cost ◽  
Annual Reports ◽  
Development Cost ◽  
Ex Post ◽  
Ex Post Facto ◽  
Oil And Gas Companies

This study ascertained the extent environmental cost affects financial performance of oil and gas companies in Nigeria. The specific objectives were to determine the effect of: community development cost and environmental remediation cost on Tobin’s on oil and gas companies in Nigeria. Ex post facto research design was employed and data was obtained from annual reports and accounts for the periods 2011 to 2018. The hypotheses were tested using regression analysis with aid of e-view 9.0. The results of the empirical data analysis revealed that community development cost and environmental remediation cost has positive significant effect on Tobin’s. The study therefore recommended among others that government should give tax credit to organizations that participate and contribute towards community development in order to encourage community development and which would go a long way in enhancing firm performance.

Analyzing the turnover ratios of the world's leading public oil and gas corporations

2020 ◽  
Vol 13 (3) ◽  
pp. 291-311
Author(s):  
O.V. Shimko
Keyword(s):  
Oil And Gas ◽  
Comprehensive Analysis ◽  
Annual Reports ◽  
Working Capital ◽  
Operating Cycle ◽  
Public Corporations ◽  
Asset Turnover ◽  
Main Factors ◽  
Economic Analyses ◽  
Oil And Gas Companies

Subject. This article explores the key turnover figures of the twenty five largest public oil and gas companies between 2006 and 2018. Objectives. The article aims to determine the current values of the key turnover figures of the largest public oil and gas companies, identify key trends in their changes within the study period, and identify the factors that have caused these changes. Methods. For the study, I used comparative, and financial and economic analyses, and generalization. Results. Based on a comprehensive analysis of the twenty five oil and gas companies' annual reports, the article identifies trends in the changes in the key turnover ratios in the industry's public sector, and establishes the main factors that affected these changes. Conclusions and Relevance. The article concludes that many of the industry's leading public corporations have an impressive capacity for further decline in the money operating cycle. It establishes that despite the efforts of leading public oil and gas companies, the duration of asset turnover and the cash operating cycle got increased quite significantly in the midst of the global financial and industry crises. The results of the study can be used to evaluate, forecast, and develop measures to improve the efficiency of own working capital and assets use by public oil and gas companies.

Analyzing the figures of consolidated income statements of the world's biggest public oil and gas corporations

2020 ◽  
Vol 16 (5) ◽  
pp. 885-904
Author(s):  
O.V. Shimko
Keyword(s):  
Oil And Gas ◽  
Financial Economic ◽  
Significant Rise ◽  
Annual Reports ◽  
Positive Development ◽  
The Public ◽  
Income Statement ◽  
Net Revenue ◽  
Main Components ◽  
Oil And Gas Companies

Subject. The article considers the main figures of consolidated income statements of 25 leading public oil and gas companies, from 2006 to 2018. Objectives. The purpose is to determine the current values of the main components of consolidated income statements of leading public oil and gas companies, unveil key trends during the period under review. Methods. I employ methods of comparative and financial-economic analysis, as well as generalization of materials of consolidated income statements. Results. The comprehensive analysis of annual reports of 25 oil and gas companies enabled to capture changes in the main figures and their interrelation in the structure of consolidated income statements in the public sector of the industry. I also established the key factors that contributed to the changes. Conclusions. The study revealed a decrease in the shareholders' net profit at the industry level, which occurred against the backdrop of a growth in net revenue from core activities. The main factor of such changes in the income statement structure was the increased expenses on core business, which were ahead of revenue, primarily due to depreciation, depletion and amortization of assets. A positive development was a general reduction in the tax burden on income. A return to the previous structure is possible only if there is a significant rise in oil prices, a reduction in expenses on core activities, and a decrease in excise taxes, duties and all other taxes not related to income tax.

Analyzing the assets of the world’s leading public oil and gas corporations

2020 ◽  
Vol 19 (2) ◽  
pp. 359-373
Author(s):  
O.V. Shimko
Keyword(s):  
Statistical Analysis ◽  
Public Sector ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Annual Reports ◽  
Economic Activities ◽  
Public Companies ◽  
Gas Industry ◽  
The Public ◽  
Oil And Gas Companies

Subject. The article analyzes assets of the largest public companies operating in the oil and gas industry from 2006 to 2018, like ExxonMobil, Chevron, ConocoPhillips, Occidental Petroleum, Devon Energy, Anadarko Petroleum, PAO Gazprom, PAO NK Rosneft, PAO LUKOIL, and others. Objectives. The aim is to make a comprehensive statistical analysis of changes in absolute values and the structure of assets in the public sector of the oil and gas industry. Methods. The study employs methods of statistical analysis and generalization of materials of official annual reports based on the results of financial and economic activities of the largest public oil and gas corporations. Results. Using the comprehensive analysis of balance sheets of 25 oil and gas companies, I determine changes in the size and structure of assets in the public sector of the industry, and establish the main factors that contributed to this transformation. Conclusions. The findings revealed an increase in the book value of assets in the majority of leading public oil and gas companies. Large mergers and acquisitions and agreements for new field developments also contributed to the increase. The study established that the protracted industry crisis resulted in reducing the proportion of current assets in order to release funds for revenue increase. That was why oil and gas companies sought to accelerate the collection of receivables, primarily by means of trade component. It was also determined that they channeled a part of funds thus collected to short-term financial investments.

Analyzing the liabilities and stockholders' equity of the world's leading public oil and gas corporations

2020 ◽  
Vol 19 (4) ◽  
pp. 745-763
Author(s):  
O.V. Shimko
Keyword(s):  
Oil And Gas ◽  
Balance Sheet ◽  
Annual Reports ◽  
Balance Sheets ◽  
Dominant Component ◽  
Total Debt ◽  
Accounts Payable ◽  
Main Components ◽  
Oil And Gas Companies

Subject. The article investigates liabilities and equity of leading public oil and gas companies from 2006 to 2018. Objectives. The focus is on determining the current values of the main components of liabilities and equity of leading public oil and gas companies, identifying the key trends over the studied period and factors that led to the changes. Methods. The paper employs methods of comparative, financial, and economic analysis, generalization of official annual reports on financial and business operations of the said corporations. Results. Based on the results of the comprehensive analysis of balance sheets of 25 oil and gas companies, I established movements in the size and structure of liabilities and equity in the public sector of the industry and the main factors that contributed to the changes. Conclusions. Over the studied period, I revealed an increase in the balance sheet valuation of liabilities and equity of most of leading public oil and gas companies, notwithstanding a noticeable decrease in their value after the industry crisis. The components of liabilities and equity remained approximately equal, but the transformation in the ratio between the components occurred within the indicators themselves. The long-term component started prevailing in the structure of liabilities. It was driven by growing total debt, which almost equaled the value of accounts payable. As a result, the total debt became the dominant component of long-term liabilities, and accounts payable retained key positions only in the short-term component.

Methodology for Assessing the Disclosure Quality of Corporate Social and Environmental Responsibility Information

2017 ◽  
Vol 2017 (2) ◽  
pp. 3-21
Author(s):  
Anastasiya Kornilova ◽  
Sergey Nikonorov
Keyword(s):  
Information Disclosure ◽  
Oil And Gas ◽  
Practical Significance ◽  
Annual Reports ◽  
The Arctic ◽  
Environmental Responsibility ◽  
Disclosure Quality ◽  
Corporate Social ◽  
Oil And Gas Companies

The subject of this study is corporate social and environmental responsibility. The object is the assessment of responsibility information disclosure quality based on the methodology developed by the authors and responsibility model. Analysis of the disclosure quality is based on data from public sources — annual nonfinancial reports of companies. This study shows examples of assessment methodology application for six Russian oil and gas companies — «Gazprom Neft», «Lukoil», «Rosneft», «Zarubezhneft», «Surgutneftegaz» and «Novatek» — based on their 2014 annual reports. The purpose of the research is to present a methodology for assessing the information disclosure quality in companies’ public sources of information about their social and environmental responsibility practices. The main results of the study is to present the methodology with practical examples of its use. The uniqueness of the study lies in the fact that the methodology is based on indicators of the Model of corporate social and environmental responsibility which is developed by the authors’. The practical significance of the study is determined by the possibility to apply the developed methodology for assessing the disclosure quality of social and environmental responsibility for companies from other sectors and based in other countries. Study the disclosure of social and environmental responsibility in the companies’ annual reports is part of a larger study of environmental and social responsibility of Russian oil and gas companies that have their projects in the Arctic region.

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