Knowledge motives in the cross-border acquisitions

2017 ◽  
Vol 15 (1) ◽  
pp. 103-123 ◽  
Author(s):  
Gisele Mazon ◽  
Fernando Moreira-da-Silva ◽  
Manuel Portugal Ferreira ◽  
Fernando Ribeiro Serra
Keyword(s):  
Oil And Gas ◽  
Mining Industry ◽  
Secondary Data ◽  
Oil And Gas Industry ◽  
Two Dimensions ◽  
Gas Industry ◽  
Content Type ◽  
Cross Border ◽  
Knowledge Strategy ◽  
Resources And Capabilities

Purpose This qualitative study, which is based on multiple cases, aims to analyze the pattern of acquisitions by Brazilian multinationals, such as Gerdau in the steel industry, Petrobrás in the oil and gas industry and Vale in the mining industry, to infer the likely knowledge motivations underlying the acquisitions of these firms. Design/methodology/approach The analyses of the three cases, with secondary data collected for the period from 2003 to 2007, classify the acquisitions according to the extent of the exploration or exploitation of resources and in two dimensions: business knowledge and location knowledge, in accordance with Ferreira’s (2005) model based on March (1991) and Chandler (1962). Findings The findings showed that the acquisitions by Gerdau, Petrobrás and Vale favored the exploitation of their resources and capabilities developed in the home market more than the exploration of new resources and capabilities. Regarding the ownership acquired, this study failed to observe the likely expected pattern of acquiring a majority stake for sustaining an exploitation strategy or a minority stake for sustaining an exploration strategy. Originality/value This study makes three contributions. First, the need to analyze the potential gains of new knowledge acquisition in domestic and cross-border expansion. Second, considering the opportunity to explore new resources and knowledge even for firms in commodity industries. Third, considering how the equity held is a structural solution that needs to be adjusted to the knowledge strategy.

Real-time analysis of Cyprus’ embryonic oil and gas industry

2016 ◽  
Vol 11 (3) ◽  
pp. 376-394 ◽  
Author(s):  
Alkis Thrassou
Keyword(s):  
Real Time ◽  
Oil And Gas ◽  
Data Gathering ◽  
Secondary Data ◽  
Oil And Gas Industry ◽  
Primary Data ◽  
Comprehensive Overview ◽  
Gas Industry ◽  
Content Type ◽  
Real Time Analysis

Purpose Utilising a substantial volume of reliable international literature, information and positions – as well as many, less credible, local ones – the research analyses and interprets theoretical, secondary and primary data that are specific, relevant or peripheral to the emerging oil and gas industry of Cyprus. The purpose of this paper is to identify and investigate the forces and factors that affect the development of this very new industry; and to integrate them into a single provisional industry forces model. Design/methodology/approach This research is purely exploratory and is methodologically based on the review, comparison and interrelation of an extensive array of theoretical and secondary data works; which is reinforced and refined through an injection of primary qualitative work in the form of 20 expert and high-level interviews. Findings The research achieves the above-stated aim and further concludes with a schematic industry representation, allowing a comprehensive overview of the industry and additionally depicting some of the key interrelationship categorisations that constitute the key factors in decision-making at all levels. Originality/value The value of the research lies in its real-time approach to data gathering and analysis. The research aids in the understanding of the environment components, not simply as individual elements affecting their subject, but as a comprehensive system; demonstrating that it is this exact systemic understanding of the constituent elements that will support and facilitate the proper development of the industry. The research also bears global/generic importance as it provides a rare insight to the issues and complexities of a country having to first deal with the discovery of hydrocarbons in its economic zone.

Strategic implications of Cyprus’ emerging oil and gas industry

2018 ◽  
Vol 13 (2) ◽  
pp. 236-249 ◽  
Author(s):  
Alkis Thrassou ◽  
Ioanna Papasolomou ◽  
Marlen Demetriou
Keyword(s):  
Public Management ◽  
Oil And Gas ◽  
Data Gathering ◽  
Secondary Data ◽  
Oil And Gas Industry ◽  
Primary Data ◽  
Gas Industry ◽  
Content Type ◽  
Business Context ◽  
High Level

Purpose Utilising a substantial volume of reliable international literature, information and positions – as well as many, less credible, local ones – the research analyses and interprets theoretical, secondary and primary data that are specific, relevant or peripheral to Cyprus’ emerging oil and gas industry. The purpose of this paper is to predictively and prescriptively define the industry’s strategic implications; both at the public policy level and the business context. Design/methodology/approach This research is purely exploratory and is methodologically based on the review, comparison and interrelation of an extensive array of theoretical and secondary data works; which is reinforced and refined through an injection of primary qualitative work in the form of 20 expert and high-level interviews. Findings The findings regarding public management underline the need for transparent and synergistic collaboration between all industry actors, as the means to achieve the obvious associated advantages, but also to prevent these forces from becoming opposing, and consequently destabilising ones. Further implications were identified with regards to employment, incentives, education, funding, but also in relation to communications and perceptions. Regarding implications for businesses the research calls for proactivity, identification of opportunities, pursue of the “first movers’ advantage”; as well as a number of specific actions and approaches. Originality/value The value of the research lies in its real-time approach to data gathering and analysis; and aids in the design and decision making regarding the industry for policy makers and businesses. The research bears also global/generic importance as it provides a rare insight to the issues and complexities of a country having to first deal with the discovery of hydrocarbons in its economic zone.

A perfect storm: how high levels of risk and weak internal controls resulted in violations of the foreign corrupt practices act

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Diana Franz
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
International Markets ◽  
Internal Controls ◽  
Strategic Decision ◽  
Department Of Justice ◽  
Gas Industry ◽  
Foreign Corrupt Practices Act ◽  
Content Type ◽  
Perfect Storm

Theoretical basis This case is based on Weatherford International’s settlement with the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ). Both the SEC and the DOJ were critical of Weatherford for its violations of the Foreign Corrupt Practices Act and for its “inadequate internal controls.” This case explores the Foreign Corrupt Practices Act (FCPA) violations and issues related to internal controls. Research methodology Case study. Case overview/synopsis This case is based on Weatherford International’s settlement with the SEC and the Department of Justice. Weatherford provided equipment and services in the oil and gas industry. Because international markets were growing faster than domestic markets, Weatherford made a strategic decision to pursue growth in international markets. The oil and gas industry has high levels of operating risk as did the countries that Weatherford decided to pursue operations in. However, despite the decision to take on additional risk, Weatherford failed to implement adequate systems of internal controls. The title of the case “A Perfect Storm” refers to Weatherford’s trifecta of operating in an industry with high levels of corruption risk, countries with high levels of corruption risk and failing to implement adequate internal controls despite those high operating risks (Department of Justice, 2013). Weatherford was ultimately assessed a $152m penalty for its violations of the FCPA that included bribery, volume discounts, improper payments and kickbacks. Complexity academic level Undergraduate and graduate auditing classes.

Clean development mechanism and carbon emissions in Nigeria

2019 ◽  
Vol 11 (3) ◽  
pp. 523-551 ◽  
Author(s):  
Sani Damamisau Mohammed
Keyword(s):  
Carbon Emissions ◽  
Clean Development Mechanism ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
International Market ◽  
Government Policies ◽  
Gas Industry ◽  
Content Type ◽  
Gas Flaring ◽  
Nigerian Government

Purpose Carbon emissions from gas flaring in the Nigerian oil and gas industry are both a national and international problem. Nigerian government policies to eliminate the problem 1960-2016 yielded little or no results. The Kyoto Protocol (KP) provides Clean Development Mechanism (CDM) as an international market-based mechanism to reducing global carbon emissions. Therefore, the purpose of this paper is to analytically highlight the potentials of CDM in eliminating carbon emissions in the Nigerian oil and gas industry. Design/methodology/approach This paper reviewed the historical background of Kyoto protocol, Nigerian Government policies to eliminating gas flaring in its oil and gas industry 1960-2016 and CDM projects in the industry. The effectiveness of the policies and CDM projects towards ending this problem were descriptively analysed. Findings Government policies towards eliminating gas flaring with its attendant carbon emissions appeared not to be yielding the desired results. However, projects registered under CDM in the industry looks effective in ending the problem. Research limitations/implications Therefore, the success recorded by CDM projects has the policy implication of encouraging Nigeria to engage on establishing more CDM projects that ostensibly proved effective in reducing CO2 emissions through gas flaring reductions in its oil and gas industry. Apparent effectiveness of studied CDM should provide a way forward for the country in eliminating gas flaring in its oil and gas industry which is also a global menace. Nigeria could achieve this by providing all needed facilitation to realising more CDM investments. Practical implications CDM as a policy has proved effective in eliminating gas flaring in the Nigerian oil and gas industry. The government should adopt this international policy to achieve more gas flaring reductions. Social implications Social problems of respiratory diseases, water pollution and food shortage among others due to gas flaring are persisting in oil and gas producing areas as government policies failed to end the problem. CDM projects in the industry have proved effective in eliminating the problem, thus improving the social welfare of the people and ensuring sustainable development. Originality/value The paper analysed the effectiveness of Nigerian Government policies and an international market-based mechanism towards ending gas flaring in its oil and gas industry.

Research shows oil and gas companies could do far more to help female expatriates to mobilize dual-career strategies

2020 ◽  
Vol 28 (6) ◽  
pp. 21-23
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Dual Career ◽  
Heterosexual Relationships ◽  
Strategic Choices ◽  
Gas Industry ◽  
Content Type ◽  
Employment Conditions ◽  
Career Strategies ◽  
Oil And Gas Companies

Purpose The purpose of this study is to examine how female expatriates mobilize couples’ dual-career coordination strategic choices to achieve their own and their partners’ desired career goals. Design/methodology/approach The researcher initially contacted 45 expatriate women in heterosexual relationships by email. More detailed interviews were done verbally with 20 of the women. The participants were asked to explain what actions they had taken, and also the effectiveness of any employer support, to maintain two successful careers Findings The women working were often angry and disappointed with their organizations’ lack of support for their dual career strategies. They adopted strategies of their own to further mutual careers while keeping relationships on track. One is to work with their organizations to secure favorable employment conditions that minimize periods of separation and, if possible, facilitate suitable employment for their partners. A second strategy is to develop personal tactics of cooperation and coordination Originality/value The results are a demonstration to the oil and gas industry that they need to do more to support dual career couples, or they will lose out on a lot of talent.

The role of project management office in developing knowledge management infrastructure

2020 ◽  
Vol 27 (10) ◽  
pp. 3261-3287 ◽  
Author(s):  
Hani Arbabi ◽  
Mohammad-Javad Salehi-Taleshi ◽  
Kian Ghods
Keyword(s):  
Knowledge Management ◽  
Project Management ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Technical Support ◽  
Practice Management ◽  
Second Phase ◽  
Gas Industry ◽  
Content Type ◽  
The Relationship

PurposeKnowledge management (KM) is regarded as an essential factor in project-based organizations (PBOs), leading to organizational learning across projects. Over recent years, most PBOs have inserted project management offices (PMOs) into their hierarchical charts to manage their projects much more coherently. These offices can correspondingly provide KM facilities in PBOs. Thus, this study aimed to analyze the relationship between PMO functions and KM infrastructure, as KM enablers in organizations, in Iranian oil and gas upstream PBOs.Design/methodology/approachA two-phase quantitative survey strategy was exercised in this research. The first phase was to investigate the relationship between PMOs and KM infrastructure and to prioritize PMO functions and KM infrastructure based on their existing implementation/establishment status in Iranian oil and gas upstream PBOs. The research participants, identified through the website of the National Iran Oil Company (NIOC), were comprised of 46 oil and gas upstream PBOs which applied for exploration and production (E&P) certificate in Iran in 2016 and 2017. Accordingly, a total number of 46 questionnaires were submitted to the aforementioned companies with a return rate of 41 cases. The second phase was fulfilled questioning 19 Iranian oil and gas industry experts to determine the one-to-one effect of PMO functions on KM infrastructure and to verify the first-phase results.FindingsThe results indicated a strong relationship between PMO functions and KM infrastructure. This relationship was significant with regard to “practice management” and “technical support”, having the most considerable connections with KM infrastructure. According to the first-phase results, the main functions of PMOs in Iranian oil and gas industry were “practice management” and “technical support”. Considering KM infrastructure, “structure” showed the lowest mean value while “culture”, “human resources” and “processes and procedures” obtained the highest scores. The results also demonstrated that PMO functions could lead to more improvements in “processes and procedures”, as a sub-component of KM infrastructure, compared with other sub-components. Furthermore, the oil and gas industry experts believed that “organizational culture” in KM could be shaped by most of PMO functions.Originality/valueThis study fulfilled the need for exploring the relationship between PMO functions and KM since academic literature lacked a thorough investigation, to the best of authors' knowledge, pertaining to the effects of PMO functions on KM development in oil and gas PBOs.

Oil firms will gradually adjust to a new price normal

2017 ◽  
Keyword(s):  
Fossil Fuels ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Cyber Attacks ◽  
Portfolio Investment ◽  
Sharp Drop ◽  
Gas Industry ◽  
New Normal ◽  
Content Type ◽  
Oil Pricing

Subject ‘New normal’ for oil pricing. Significance Since 2008, commentators have frequently applied the phrase ‘new normal’ to the changing market and trading conditions that enterprises find themselves in. The oil and gas industry is no different. More than two years after the sharp drop in oil prices in 2014 and despite the recent OPEC-non-OPEC output cuts, oil is now in a potential new normal regarding price. While oil is often used as a proxy for the industry, this new normal impacts the whole fossil fuels sector. Impacts Portfolio investment decisions have demonstrated capital discipline but must find more ways of achieving a return at 50 dollars per barrel Technology will support the transition, but firms must put in place credible procedures to deal with the threat of cyber attacks The uncertain geopolitical backdrop makes it more difficult, but the sector needs to find a credible response to the COP21 Paris agreement

Integration between RCM and RAM: a case study

2016 ◽  
Vol 33 (6) ◽  
pp. 852-880 ◽  
Author(s):  
Ilaria De Sanctis ◽  
Claudia Paciarotti ◽  
Oreste Di Giovine
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Practical Method ◽  
Environmental Safety ◽  
Gas Industry ◽  
Content Type ◽  
Availability Analysis ◽  
Plant Safety ◽  
Offshore Industry

Purpose – The purpose of this paper is to propose a practical method of performing maintenance in the offshore industry where engineers have to manage problems such as the high cost of operations, assuring an high availability of the plant, safety on board and environmental protection. Indeed an efficient maintenance method it is necessary in order to offer methods and criteria to select the rights maintenance strategies keeping in to account the environmental, safety and production constrains. Design/methodology/approach – The paper provides an overview of reliability centered maintenance (RCM) and reliability, availability, maintainability methodologies and an integration of the two methodologies in a particular case study in the oil and gas sector. Findings – This paper suggests an improvement of the well-established RCM methodology applicable to industries with high priority level. It is proposed an integration between a reliability analysis and an availability analysis and an application on the offshore oil and gas industry. Practical implications – The methodology provides an excellent tool that can be utilized in industries, where safety, regulations and the availability of the plant play a fundamental role. Originality/value – The proposed methodology provides a practical method for selecting the best maintenance strategy considering the equipment redundancy and sparing, the asset’s performance over long time scales, and the system uptime, downtime and slowdowns.

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.

Entrepreneurial implications of Nigeria's oil industry local content policy

2011 ◽  
Vol 5 (3) ◽  
pp. 223-241 ◽  
Author(s):  
Ugwushi Bellema Ihua ◽  
Olatunde Abiodun Olabowale ◽  
Kamdi Nnanna Eloji ◽  
Chris Ajayi
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
General Level ◽  
Gas Industry ◽  
Content Type ◽  
Oil Companies ◽  
Local Content ◽  
National Oil Companies ◽  
Indigenous Entrepreneurs ◽  
Entrepreneurial Activities

PurposeThe purpose of this paper is to investigate the efficacy of Nigeria's oil and gas industry local content (LC) policy, with particular reference to how the policy has enhanced entrepreneurial activities and served as panacea to resolving some of the country's socio‐economic challenges within the oil‐producing Niger Delta region.Design/methodology/approachSurvey data were randomly obtained from a questionnaire sample of 120 indigenes in Bayelsa, Delta and Rivers states; and subjected to factor‐analysis using varimax rotation to identify the most crucial factors likely to influence the success of the policy. Cronbach's α was also applied to ascertain the reliability of the data and overall agreement amongst respondents.FindingsThe study reveals a general level of indifference amongst the respondents, and an insignificant level of entrepreneurial implication, regarding the LC policy. Notwithstanding, the need to create business prospects, jobs opportunities, and establish special quota arrangements to benefit indigenes of the oil producing host‐communities were found to be most crucial in their assessment of the policy's efficacy.Practical implicationsIt is expected that the policy should stimulate and open up more channels for budding entrepreneurial activities, job opportunities and wealth generation. These would mitigate situations of unwarranted militant activities, social disorder and disguised criminalities such as kidnapping and destruction of oil installations, resulting from perceived marginalisation, massive unemployment and poor living standards experienced within the region.Originality/valueThe study provides insights into how the LC policy, if properly harnessed and judiciously implemented, can generate win‐win outcomes for the nation, multi‐national oil companies, host communities and indigenous entrepreneurs.

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