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.

Duque brings relief and risks for Colombian oil sector

2018 ◽  
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Foreign Investor ◽  
Gas Industry ◽  
Content Type ◽  
Investor Confidence ◽  
Military Presence ◽  
The Future ◽  
Oil Sector

Significance Not least among the fundamental disagreements between the rightist Duque and his leftist election opponent, Gustavo Petro, was the matter of how to steer the future of Colombia’s oil and gas industry, an issue that will be key in addressing Colombia’s economic challenges. Impacts The need to gain foreign investor confidence may push Duque to maintain peace talks but domestic pressures will counter this. The ELN's failure to agree a ceasefire before Santos's departure leaves talks even more vulnerable to collapse. Military presence can help protect oil facilities and staff, but extensive infrastructure such as pipelines cannot be reliably defended.

Digitisation will cut energy sector costs globally

2017 ◽  
Keyword(s):  
Artificial Intelligence ◽  
Oil And Gas ◽  
New Technologies ◽  
Oil Industry ◽  
Oil And Gas Industry ◽  
Added Value ◽  
High Tech ◽  
Gas Industry ◽  
Content Type ◽  
World Economic

Significance While many industries have been transformed by the development of such new digital technologies as data analytics and artificial intelligence, the oil and gas industry has been a laggard. That is starting to change as the industry looks to new technologies to help it become more efficient and productive. The oil price downturn, which has put a premium on cost cutting, has accelerated the move to take up new technologies. The opportunity is significant, with a World Economic Forum report (pdf) from earlier this year claiming that the industry could generate 1 trillion dollars in added value over the next decade by embracing digitisation. Impacts Local communities in oil-producing regions face disruption as digitisation reduces employment and puts a premium on high-tech skills. The oil industry will be a significant new market for tech firms working on artificial intelligence, machine learning and automation. Embracing new technologies could help the oil industry attract younger workers, a key challenge as a wave of older talent retires.

scholarly journals Problems of Innovative Development of Oil Companies: Actual State, Forecast and Directions for Overcoming the Prolonged Innovation Pause

Energies ◽  
2021 ◽  
Vol 14 (4) ◽  
pp. 837
Author(s):  
Yana Matkovskaya ◽  
Elena Vechkinzova ◽  
Yelena Petrenko ◽  
Larissa Steblyakova
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Graphical Analysis ◽  
Actual State ◽  
Innovative Development ◽  
Gas Industry ◽  
Oil Companies ◽  
Oil Sector ◽  
Oil And Gas Companies ◽  
Oil And Gas Sector

The study of the rates of innovative development of various sectors of the modern economy makes it possible to determine the existence of a scientific and practical problem, eliciting the need for urgent identification of the reasons for non-innovative development of Oil and Gas Companies and development of the directions for innovation development. Based on a number of methods, including methods of graphical analysis, time series forecasting, construction of linear trends, correlation analysis and scenario forecasting, the authors stated the fact of the serious depth of the problem of innovative insufficiency in the oil sector in comparison with other sectors and they built six scenarios for the development of these companies. The applied methods made it possible to not only come to the conclusion that with the current level of investment in R&D in the oil and gas sector, Oil Companies may find themselves in difficult conditions, especially if breakthrough technologies show themselves in the non-hydrocarbon energy of the future, but also made it possible to determine the most important directions for the development of Oil Companies, including the formation and development of the oil and gas industry 4.0, marketing strategic management of the activities of these companies.

Global energy M&A will be limited in 2016

2016 ◽  
Keyword(s):  
Private Equity ◽  
Oil And Gas ◽  
Oil Prices ◽  
Oil And Gas Industry ◽  
Gas Production ◽  
Gas Industry ◽  
Oil And Gas Production ◽  
Content Type ◽  
Oil Companies ◽  
Conventional Oil

Subject Prospects for consolidation in the oil and gas industry. Significance Falling revenues and downward reserve valuations caused by the fall in oil prices are producing merger and acquisition (M&A) opportunities in the oil and gas sector. However, uncertainty about how long oil prices will stay low is keeping bids and offers apart, amid quandaries over which forms of oil and gas production will prove most profitable once prices revive. Impacts Post-bankruptcy restructured companies may be primary targets, given acquirers' unwillingness to take on elevated levels of debt themselves. Mid-cap companies with serviceable debt loads will gain from increased scale; cost reduction capacity will be a source of value. Shale cost reductions suggest that technology and assets in the shale patch will remain attractive to more conventional oil companies. Values of long lead-time projects, such as conventional oil assets in Africa, will suffer. There is substantial firepower available to private equity buyers who are holding out for lower prices prompted by distressed sellers.

A business network perspective on local content in emerging African petroleum nations

2016 ◽  
Vol 10 (4) ◽  
pp. 594-616 ◽  
Author(s):  
Richard Afriyie Owusu ◽  
Terje I. Vaaland
Keyword(s):  
Network Theory ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Business Networks ◽  
Business Network ◽  
Gas Industry ◽  
Content Type ◽  
Oil Companies ◽  
Local Content ◽  
Industrial Network

Purpose The paper aims to identify and analyze the actors and their interrelationships in realizing local content objectives in African oil- and gas-producing nations. Design/methodology/approach The paper includes content analysis of relevant research papers and reports within the oil and gas industry, local content and industrial networks published between 2000 and 2014. Findings The study developed a framework that integrates the literature on local content with the industrial network theory. The framework classifies the various critical actors for achieving local content, proposing that achieving local content requires the development of business network links and a resource alignment among local companies and institutions and foreign companies and institutions, in addition to multinational oil companies. Research limitations/implications The framework of this study contributes to an emerging theory on local content by integrating the industrial network theory, which provides specific frameworks for analyzing embedded business environments, along with the previous economic and legal-based studies of local content achievement. Practical implications The way the relevant actors organize their resources and business networks provides potential for local content in an emerging oil and gas industry in Africa. Originality/value The paper is one of the few to integrate studies of local content with the industrial network theory. The literature review provides a summary window of the research on the subject over a 14-year period.

Fighting elephants, suffering grass: oil exploitation in Nigeria

2015 ◽  
Vol 28 (5) ◽  
pp. 791-811 ◽  
Author(s):  
Ikechukwu Umejesi ◽  
Michael Thompson
Keyword(s):  
Risk Perceptions ◽  
Oil And Gas ◽  
Cultural Theory ◽  
Oil And Gas Industry ◽  
Local Communities ◽  
The State ◽  
Environmental Advocacy ◽  
Gas Industry ◽  
Content Type ◽  
Oil Companies

Purpose – The purpose of this paper is to understand the interactions of the different actors – the state, multinational oil and gas companies, environmental advocacy groups and local people – in the oil-rich Niger Delta. Design/methodology/approach – The paper draws on interviews, observations and focus group discussions, as well as on archival materials relating to the development of the oil and gas industry during the colonial period (i.e. pre-1960 Nigeria). Findings – A cultural theory-based analysis of the environmental risk perceptions of the different actors reveals a profoundly unconstructive institutional configuration, in which the collusion of two “solidarities – the oil companies (individualism) and the state (hierarchy) – has led to the exclusion of the local communities (egalitarianism) who have found themselves impoverished and marginalised (fatalism). With these two “elephants” – individualism/hierarchy and egalitarianism/fatalism – pitted against each other, it has been the “grass” – the natural environment that has suffered. Practical implications – Giving the local communities a stake in the wealth-creating process, from which they are at present excluded, would shift the pattern of inter-solidarity engagement from one in which two “active” (i.e. non-fatalist) voices silence the third to one in which each voice is able to make itself heard and is then responsive to the others. Originality/value – Innovative and current on under-researched topic and geography. The main fieldwork was conducted between 2007 and 2008, with further field visits and updates between 2009 and 2013.

African oil and gas acreage push will hasten

2018 ◽  
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Oil Price ◽  
Short Term ◽  
Gas Industry ◽  
Content Type ◽  
Oil Companies ◽  
Service Companies ◽  
National Oil Companies ◽  
Public Expectations

Subject Increased African offshore exploration Significance Offshore West and Southern Africa is seeing a revival of exploration interest as the upstream oil and gas industry recovers following the 2014 oil price crash. Oil majors such as ExxonMobil and BP have snapped up acreage, while firms that already have a footprint in the region are expanding and announcing new drilling plans. The upsurge in activity will bring a short-term economic boost to the countries concerned but -- as with past waves of exploration -- public expectations of imminent windfalls will have to be carefully managed. Impacts Ports and service companies supporting exploration will see an upturn in activity. Pressure will grow on national oil companies and government bodies to improve expertise and infrastructure for future discoveries. Existing licence-holders will face pressure from regional governments to quickly pursue exploration or risk being replaced.

The System of Russia's Oil and Gas Complex Regulation

2004 ◽  
pp. 70-85
Author(s):  
E. Krivoshchekova ◽  
E. Okuneva
Keyword(s):  
Oil And Gas ◽  
Oil Industry ◽  
Oil And Gas Industry ◽  
State Regulation ◽  
Present System ◽  
Gas Industry ◽  
Russian Economy ◽  
The Earth ◽  
Complex Regulation ◽  
Oil Sector

The main principles of state regulation of the oil and gas industry in the countries — leading world oil manufacturers and exporters are considered in the article. The system of state regulation in the oil sector of the Russian economy is studied. Special attention is given to the problems of taxation and usage of the bowels of the Earth. It is shown that the present system of state regulation meets neither interests of the state, nor interests of society and business. Some measures helping to increase the efficiency of state regulation in Russia's oil industry are offered.

Corporate governance model, stakeholder engagement and social issues evidence from European oil and gas industry

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Federica Doni ◽  
Antonio Corvino ◽  
Silvio Bianchi Martini
Keyword(s):  
Corporate Governance ◽  
Stakeholder Engagement ◽  
Oil And Gas ◽  
Social Performance ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Content Type ◽  
Governance Model ◽  
Corporate Social ◽  
Corporate Governance Model

Purpose Lately, sustainability issues are increasingly affecting all sectors, even if oil and gas industry is highly required to improve its social performance because of the societal pressure to environmental protection and social welfare. Sustainability concerns and corporate governance features and practices are more and more connected because sustainability has been perceived as a crucial topic by owners and managers. In this perspective, the empirical analysis aims to explore whether and to what extent, sustainability-oriented corporate governance model is linked with social performance. Design/methodology/approach By adopting a multi-theoretical framework that includes the legitimacy theory, the stakeholder theory and the resource-based view theory, this analysis used a sample of 42 large European-listed companies belonging to the oil and gas industry. The authors run fixed effects regression models by using a dependent variable, i.e. the social score, available in ASSET4 Thomson Reuters, and some independent variables focused on sustainable corporate governance models, stakeholder engagement, firm profitability, market value and corporate risk level. Findings Drawing upon the investigation of a moderating effect, findings display that stakeholder engagement is positively associated with corporate social performance and it can be considered an important internal driver able to shape a corporate culture and most likely to address corporate social responsibility issues. Research limitations/implications This study confirms the need to develop an organizational and holistic approach to corporate governance practices by analyzing internal and external governance mechanisms. From the managerial perspective, managers should opt for a sustainable corporate governance model, as it is positively correlated with corporate social performance. Originality/value There is an urgent need to investigate sustainability issues and their potential association with firm internal mechanisms, particularly in the oil and gas industry. This paper can extend the current body of knowledge by pointing out a positive relationship between stakeholder engagement and firm social performance.

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