Industry: Turning the Titanic

2021 ◽  
pp. 119-154
Author(s):  
Deborah Gordon
Keyword(s):  
Climate Change ◽  
Greenhouse Gas ◽  
Oil And Gas ◽  
Self Regulation ◽  
Ghg Emissions ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Combat Climate Change ◽  
Oil And Gas Companies

Chapter 5 examines the structure and role of the oil industry and details the various actors that make up the industry. It argues that self-reported greenhouse gas (GHG) emissions are not comprehensive or trustworthy. There are too many ways that companies can game emissions reports. Different companies are surveyed to separate the leaders from the laggards. The investigation reaches beyond multinational and national oil and gas companies and touches upon industry actors in the wings: investors, industry advisers, traders, and certification agents. Efforts to establish industry benchmarks are laid out. The chapter recommends rethinking self-regulation and concludes with a challenging premise about whether the goal is to defeat or partner with the oil and gas industry to effectively combat climate change.

A Changing Dynamic: The Need for Collaboration on Talent Development and Climate Change in the E&P Industry

2007 ◽  
Vol 01 (03) ◽  
pp. 05-10
Author(s):  
_ Talent & Technology
Keyword(s):  
Climate Change ◽  
Carbon Sequestration ◽  
Greenhouse Gas ◽  
Fossil Fuels ◽  
Oil And Gas ◽  
Ghg Emissions ◽  
Talent Development ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Critical Issues

Feature - In late June, 2007 SPE President Abdul-Jaleel Al-Khalifa hosted an executive industry wide summit with 75 global leaders to advance cross-sector collaboration on two critical issues facing the oil and gas industry. Talent scarcity has been a pressing and recurring item on company agendas for several years. On the technology front, the heightened focus on climate change and greenhouse-gas (GHG) emissions from fossil fuels is expected to influence many areas including media, legislation, and policymaking. The oil and gas industry has been actively involved in various technology projects to promote carbon sequestration. The summit provided a venue to frame and boost an industry position on this critical and widely publicized subject.

On Approaches to Taking into Account the Risks of Changing Climatic Conditions when Planning and Implementing Oil and Gas Projects

2021 ◽  
Vol 18 (1) ◽  
pp. 52-65
Author(s):  
P. N. Mikheev
Keyword(s):  
Climate Change ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Climatic Conditions ◽  
Qualitative Assessment ◽  
Physical Factors ◽  
Gas Industry ◽  
Climate Risks ◽  
The Impact

The article discusses issues related to the impact of climate change on the objects of the oil and gas industry. The main trends in climate change on a global and regional (on the territory of Russian Federation) scale are outlined. Possible approaches to the identification and assessment of climate risks are discussed. The role of climatic risks as physical factors at various stages of development and implementation of oil and gas projects is shown. Based on the example of oil and gas facilities in the Tomsk region, a qualitative assessment of the level of potential risk from a weather and climatic perspective is given. Approaches to creating a risk management and adaptation system to climate change are presented.

Technological Power as a Strategic Dilemma: CO2 Capture and Storage in the International Oil and Gas Industry

2012 ◽  
Vol 12 (1) ◽  
pp. 8-29 ◽  
Author(s):  
Andreas Tjernshaugen
Keyword(s):  
Climate Change ◽  
Comparative Analysis ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Change Strategies ◽  
Gas Industry ◽  
Mitigation Option ◽  
Long Time ◽  
Oil And Gas Companies ◽  
And Storage

This article offers a comparative analysis of the emergence of CO2 capture and storage (CCS) activities and strategies in three multinational oil and gas companies. Exxon/ExxonMobil was first to make plans for a major, pioneering CCS project, but later pursued a relatively cautious strategy. In contrast, BP showed little interest in CCS up until 1997, but from that point on developed a particularly ambitious strategy. Statoil, meanwhile, has been relatively strongly involved in CCS activities for a long time. An explanatory framework with potential for wider application is developed, highlighting how the overall compatibility of CCS with oil and gas industry characteristics created a strategic dilemma for the companies. In explaining their responses, the article emphasizes the process towards institutionalization of CCS as a widely recognized mitigation option, and the three companies' different climate change strategies.

Value creation through big data application process management: the case of the oil and gas industry

2019 ◽  
Vol 23 (8) ◽  
pp. 1566-1585 ◽  
Author(s):  
Muhammad Saleem Sumbal ◽  
Eric Tsui ◽  
Irfan Irfan ◽  
Muhammad Shujahat ◽  
Elaine Mosconi ◽  
...  
Keyword(s):  
Big Data ◽  
Value Creation ◽  
Oil And Gas ◽  
Positive Impact ◽  
Oil And Gas Industry ◽  
Cyber Attacks ◽  
Gas Industry ◽  
Content Type ◽  
Oil And Gas Companies

Purpose The purpose of this study is twofold: to investigate the role of big data in firms’ co-knowledge and value creation and to understand the underlying drivers behind value creation through big data in the oil and gas industry by underscoring the role of firms’ capabilities, trends and challenges. Design/methodology/approach Following an inductive approach, semi-structured interviews were conducted with senior managers and analysts working in oil and gas companies across eight countries. The data collected from these key informants were then analysed using the qualitative data analysis software ATLAS.ti. Findings Value creation through big data is an important factor for enhancing performance. It has a positive impact on both tangible (organisational performance) and intangible (societal) aspects depending on the context. Oil and gas companies understand the importance of big data to creating value in their operations. However, implementing and using big data has been problematic. In this study, a framework was developed to show that factors such as the shortage of data experts, poor data quality, the risk of cyber-attacks and unsupportive organisational cultures impede its implementation and utilisation. Research limitations/implications The findings from this study have implications for managers and executives implementing big data and creating value across various data-intensive industries. The research findings, are contextual, however, and should be applied cautiously. Originality/value This study contributes to the value creation literature in the big data context. The findings identify the key areas to be considered for the effective implementation and utilisation of big data in the oil and gas sector. This study addresses a broad but under-explored issue (i.e. knowledge creation from big data and its implementation) and strengthens the academic debate within this research stream.

Exploring role of Indian workplace spirituality in stress management: a study of oil and gas industry

2020 ◽  
Vol 33 (5) ◽  
pp. 779-803
Author(s):  
Anubhuti Saxena ◽  
Naval Garg ◽  
B.K. Punia ◽  
Asha Prasad
Keyword(s):  
Stress Management ◽  
Work Stress ◽  
Oil And Gas ◽  
Workplace Spirituality ◽  
Oil And Gas Industry ◽  
Primary Objective ◽  
Gas Industry ◽  
Content Type ◽  
Oil And Gas Companies

PurposeThe primary objective of the present study is to explore the relationship between workplace spirituality and work stress among offshore and onshore employees of the Indian oil and gas industry. The present study also tends to study the difference in the stress level of offshore and onshore employees of the Oil and Gas Industry.Design/methodology/approachThe size of the sample for the present study was 202 respondents. It includes 128 onshore employees and 74 offshore employees of oil and gas companies. Respondents were mainly managers and supervisors working in various departments of Oil and Natural Gas Corporation (ONGC), Cairn India, Reliance India Ltd (RIL), Bharat Petroleum Corporation Ltd (BPCL) and Indian Oil and Gas Ltd (IOCL). Since the different level of stress is experienced by employees at different stages of the organizational structure, thus study selected population comprising of managers and supervisors since they are believed to face similar work stressors. A variety of statistical tools like mean, t-test, correlation and multi-regression is used for the analysis of collected data.FindingsResults show that all six dimensions of workplace spirituality are significantly negatively correlated with stress for onshore employees. However, the sense of community and gratitude are found insignificantly associated with stress for offshore employees. Stressful offshore conditions and excessive specialization might not allow offshore employees to cherish the community at the workplace and also the virtue of gratefulness. The offshore employees might have a certain level of gratitude and community system, but it is not sufficient for the employees to perceive a lower level of work relates to stress. The result gives the impression that the normal working conditions (onshore workplace) provide adequate opportunity to workplace spirituality to transcend its impact on work stress.Originality/valueThis is one of the pioneer studies that examined the role of workplace spirituality and stress in stress management of offshore and onshore employees of Indian Oil and gas companies.

Reliable cost-efficient distributed energy systems with a high renewable penetration: a techno-economic case study for remote off-grid regional coal seam gas extraction

2018 ◽  
Vol 58 (2) ◽  
pp. 493
Author(s):  
Joachim Bamberger ◽  
Ti-Chiun Chang ◽  
Brian Mason ◽  
Amer Mesanovic ◽  
Ulrich Münz ◽  
...  
Keyword(s):  
Greenhouse Gas Emissions ◽  
Greenhouse Gas ◽  
Oil And Gas ◽  
Energy Systems ◽  
Oil And Gas Industry ◽  
Energy System ◽  
Distributed Energy ◽  
Gas Emissions ◽  
Gas Industry ◽  
Oil And Gas Companies

As our energy systems evolve with the adoption of more variable renewable energy resources, so will our oil and gas industry play a pivotal role in what is expected to be a lengthy transitional phase to a greater mix of renewables with a reliance on fast, reliable gas peaking power generation, which have lower greenhouse gas emissions, and short delivery periods to construct. Oil and gas companies are also rapidly moving towards becoming integrated energy companies supplying a mix of gas, oil, photovoltaic power, wind power and hydrogen, coupling these into the electrical and gas grids. We discuss some of the components and tasks of a distributed energy system in its various system guises that contribute to a more cost effective, reliable and resilient energy system with lower greenhouse gas emissions. We discuss the role that hydrogen will play in the future as oil and gas companies explore alternatives to fossil fuels to address their need to reduce their carbon footprint, substituting or supplementing their conventional gas supply with renewably produced hydrogen. We talk about how Australia with its excellent renewable resources and the opportunity to potentially develop a new industry around the production of renewable fuels, power-to-X, such as hydrogen, with the potential for the oil and gas industry to leverage its existing assets (i.e. gas pipelines) and future embedded renewable assets to produce hydrogen through electrolysis with the intention of supplementing their liquefied natural gas exports with a portion of renewably produced hydrogen.

Sustainability trends in oil and gas

2019 ◽  
Vol 59 (2) ◽  
pp. 738
Author(s):  
Piers P. Tonge
Keyword(s):  
Climate Change ◽  
Business Models ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Company Strategy ◽  
Net Zero ◽  
Global Investors ◽  
Oil And Gas Companies

This paper addresses multiple examples of sustainability across the oil, gas and energy sectors, and relevance application to APPEA members. The sustainability of oil and gas companies is now a key issue for the financial and investment sectors. Investors’ concerns over environmental, social and governance (ESG) risks and business models that may destroy value are growing, with clear analogues from the coal sector. Companies need to maintain their focus on safety, social licence issues and compliance of human rights. Mainstream global investors are increasing pressure on companies to address the long-term risks associated with climate change, as investors look to reduce the carbon-emissions footprints of their equity portfolios. The oil industry is still largely reactive, and not perceived by investors and society to be a part of the climate change solution. Investor pressure to address climate change is driving change in oil and gas company strategy and sustainability activity. Companies need resilience and credible plans to reduce scope 1, 2 – and in the future scope 3 emissions – and to achieve the net zero objectives of the Paris Agreement. Investor and societal scrutiny on the oil and gas industry is likely to increase with plastics an area of growing focus, with implications for future oil and gas demand.

Technology Focus: Decarbonization (July 2021)

2021 ◽  
Vol 73 (07) ◽  
pp. 64-64
Author(s):  
Nigel Jenvey
Keyword(s):  
Business Models ◽  
Oil And Gas ◽  
Natural Capital ◽  
Ghg Emissions ◽  
Oil And Gas Industry ◽  
Policy Support ◽  
Continuous Change ◽  
Gas Industry ◽  
The Past ◽  
Technology Focus

Have you noticed the change in the oil and gas industry over the past year with its engagement in carbon management, decarbonization, and net-zero-emissions targets? Policy support and technology advances in alternative energies have delivered massive cost reduction in renewables more quickly, and to a greater degree, than expected. Over the past few years, more of the world’s capital has been spent on electricity than oil and gas sup-ply, and more than half of all new energy-generation capacity is now renewable. Some elements of society, therefore, have suggested that this is the beginning of the end for the fossil-fuel sector and call for investors to turn away from oil and gas and “leave it in the ground.” In more than a century of almost continuous change, however, the oil and gas industry has a long track record of innovative thinking, creative solutions, and different business models. SPE papers and events that covered decarbonization during the past year show that a wide variety of solutions already exist that avoid, reduce, replace, offset, or sequester greenhouse gas (GHG) emissions. It is clear, therefore, that decarbonization technologies will now be as important as 4D seismic, horizontal wells, and hydraulic fracturing. That is why we now bring you this inaugural Technology Focus feature dedicated to decarbonization. The experience and capability of the entire JPT community in decarbonization is critical. Please enjoy the following summary of three selected papers on the role of natural gas in fuel-switching; carbon capture, use, and storage (CCUS); and hydrogen technologies that deliver the dual challenge of providing more energy with less GHG emission. There are many ways to engage in the SPE decarbonization efforts in the remainder of 2021. Regional events have addressed CCUS, hydrogen, geothermal, and methane. There is also the new SPE Gaia sustainability program to enable and empower all members who wish to engage in the alignment of the future of energy with sustainable development. The Gaia program has an on-demand library of materials, including an existing series on methane, and upcoming similar events on other energy transition, natural capital and regeneration, and social responsibility priorities. Get involved through your SPE section or chapter or contact your regional Gaia liaison to find out what Gaia programming you can support or lead at www.spe.org/en/gaia.

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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