scholarly journals Leading and Executing Industry Change through a Learning Network

2008 ◽  
Vol 33 (3) ◽  
pp. 63-78
Author(s):  
Anjali Hazarika
Keyword(s):  
Oil And Gas ◽  
Petroleum Industry ◽  
Business Environment ◽  
Learning Opportunities ◽  
Learning Network ◽  
Competitive Edge ◽  
Managing Change ◽  
Set Up ◽  
Oil And Gas Companies ◽  
Management Issues

There is a widespread recognition of the fact that organizations need to continuously enhance their capabilities to be able to retain a competitive edge in a highly complex business environment. One of the mechanisms available to them is an intercorporate learning network. This paper reports on the way a learning network— National Petroleum Management Programme (NPMP)— was set up and institutionalized to address the strategic needs of the petroleum industry in India. It focuses on the external and internal drivers for change and describes the key challenges encountered in translating change. It also demonstrates the advantage of collaboration between oil and gas companies as a strategy to deal with competitive times. The objectives of setting up NPMP was to: develop among the enterprises a shared understanding on the strategic advantage of collaboration in the competitive environment to help the industry in meeting its objectives of growth and vitality act as a catalytic agent for initiating macro level changes in the policies and practices in petroleum enterprises provide a range of learning opportunities and services. The dynamics of the Network provide a critical lens for analysing how change is impacted and dealt with in the petroleum industry in India. The author addresses some of the management issues involved in the process. The challenges include: motivating members to participate on a joint cost-sharing basis building upon and dissemination of new knowledge translating change through the Learning Network. Finally, the author points out the implications for HR professionals and suggests what new skills and competencies they need to develop for managing change.

Getting the message across—taxation contribution of the petroleum industry in Australia

2015 ◽  
Vol 55 (2) ◽  
pp. 432
Author(s):  
Carlo Franchina ◽  
Rod Henderson ◽  
Praneel Nand
Keyword(s):  
Common Ground ◽  
Oil And Gas ◽  
Petroleum Industry ◽  
Oecd Country ◽  
Life Cycles ◽  
Income Taxes ◽  
Resource Rent ◽  
Petroleum Resource ◽  
The Common ◽  
Oil And Gas Companies

With the global move towards tax transparency reporting measures, resource companies face challenges in ensuring that reporting captures the full extent of revenues contributed by resource companies and also correctly reports the project and profitability life cycles of resource companies. This extended abstract focuses on the global tax transparency debate and highlights the challenges for large Australian and global oil and gas businesses in demonstrating their payment of their fair share of tax and contributing to the communities in which they operate. Issues to be covered include: A summary of the revenue contribution of oil and gas companies in Australia through the layers of taxation, such as state royalties, the Petroleum Resource Rent Tax (PRRT) and corporate income taxes. Highlighting the types and rates of taxes paid by Australian oil and gas companies compared to other selected countries. A comparison of the concessions granted to Australian oil and gas companies to other countries. A historical summary of taxes paid by Australian oil and gas companies. A summary of existing and developing transparency reporting, such as the Australian Taxation Office (ATO) reporting of taxpayers with revenues more than A$100 million, the Extractive Industries Transparency Initiative, Dodd Frank rules, OECD country-by-country reporting, and BEPS developments. Recommendations to get the message across; that is, what should be the common ground on reporting the actual overall global tax liability including income tax, resource taxes, employment taxes and indirect taxes.

Maintaining your competitive edge in a world of open innovation

2012 ◽  
Vol 52 (2) ◽  
pp. 652
Author(s):  
Kate Rintoul
Keyword(s):  
Energy Consumption ◽  
Open Innovation ◽  
Oil And Gas ◽  
Senior Management ◽  
Petroleum Exploration ◽  
The Public ◽  
Business Press ◽  
Competitive Edge ◽  
Reduce Energy Consumption ◽  
Oil And Gas Companies

Technology clearly plays an increasingly important role in upstream petroleum exploration and development. There is the need to visit more challenging places to access traditional reserves and consider unconventional sources; at the same time, there is the need to reduce energy consumption and emissions. Open innovation: the new imperative for creating and profiting from technology is a book written by Henry Chesbrough and published by Harvard Business Press in 2003. Since open innovation was coined by Chesbrough, it has gained traction, including in senior management teams in oil and gas companies. This extended abstract describes what open innovation is and what it is not. Open innovation is sometimes wrongly believed to be open source, which is the way an entity deals with the output of its research and development efforts (for example, by putting it into the public domain subject only to limited restrictions). In contrast, open innovation refers to the use of external ideas (as well as internal ideas) to generate that output. The benefits and challenges of open innovation and identification of issues for an entity to consider before engaging in open innovation are discussed. The focus is on the need to make early decisions about the approach to intellectual property (particularly confidential information and patents) to ensure it is harnessed, if appropriate, to provide a source of competitive advantage. The PowerPoint presentation is not provided to APPEA.

Onshore Petroleum Centre of Excellence—collaboration by industry partners, government and TAFE to deliver trained staff for an expanding onshore petroleum industry

2015 ◽  
Vol 55 (2) ◽  
pp. 496
Author(s):  
Venner Bettina ◽  
Wood Chris ◽  
Welsh Kevin ◽  
Mossman Fiona ◽  
Goiak Paul ◽  
...  
Keyword(s):  
Gas Flow ◽  
Joint Venture ◽  
Oil And Gas ◽  
Petroleum Industry ◽  
Gas Production ◽  
Mechanical Equipment ◽  
Production Environment ◽  
Oil And Gas Production ◽  
Training Facility ◽  
Set Up

Santos, Beach Energy and Senex Energy are collaborating with the SA Government and TAFE SA to set up a hub for onshore oil and gas training in Adelaide. The training facility provides a fully immersive simulated oil and gas production environment, as well as static equipment displays for demonstration and educational purposes. It is used for technical training, including safety, environmental and sustainable operational principles and key maintenance activities. The simulated production environment includes different pump types, gas compressors, a pig launcher and receiver, gas metering skid, field separator and small tanks, as well as associated pressure safety valves, flow valves and other instruments. Water is used to simulate oil and air is used to simulate gas flow. The static equipment display includes various valve types, flanges and a wellhead. Santos, as operator of the SA Cooper Basin joint venture (of which Beach Energy is a member), has committed significant oil and gas production and mechanical equipment, engineering design, transportation and installation of the training facility’s equipment. The SA Government, Senex Energy and Beach Energy have committed funding for fit-out, capital works and the running of the facility for the first two years. Industry partners GPA Engineering, Fyfe Engineering, Logicamms, Veolia Environmental Services, Toll Energy, Transfield Services, Ottoway Engineering, Bureau Veritas, MRC Group, Max Cranes, Whitham Media Australia, Inductabend, Toyota Australia, James Walker Australia, Coventry Fasteners, Centralian Controls and Central Diesel are providing expertise and services. The training facility officially opened on 16 February 2015

Business environment review 2020

2021 ◽  
Vol 61 (2) ◽  
pp. 347
Author(s):  
Simon Molyneux
Keyword(s):  
Carbon Emissions ◽  
Oil And Gas ◽  
Supply And Demand ◽  
Petroleum Industry ◽  
Commodity Prices ◽  
Oil And Gas Industry ◽  
Business Environment ◽  
Gas Industry ◽  
The Impact ◽  
Oil Gas

The petroleum (oil, gas and LNG) business environment in 2020 was adverse. Two factors disrupted the foundations of the global oil and gas industry. First, the COVID-19 global pandemic caused an unprecedented reduction of demand that combined with high levels of production resulted in oversupply of oil, gas and LNG. This gap between supply and demand resulted in a collapse in commodity prices, reduced revenues and cancelling or deferral of investment. Second, societal awareness of the impact of climate change on planet Earth increased. Pressure to reduce carbon emissions and a concomitant societal-shift against carbon-emissions intensive petroleum-based forms of energy generation intensified. Many major players in the petroleum industry re-framed their strategies to focus on energy supply in general and in some cases plan to cease their exploration, development and production activities in the coming decades. In Australia, in part global factors manifested in the deferral of investment decisions on three LNG investments. The Australian Government signalled that gas developments would be a critical part of Australia’s post-COVID recovery and that management of abandonment and decommissioning liabilities would be a factor in the approval of transactions leading to a change in ownership. This paper will describe each of the factors faced by the industry in 2020 and frame the issues facing the petroleum industry in 2021 and beyond.

scholarly journals ANALYSIS OF THE DEVELOPMENT OF OIL AND GAS COMPANIES IN RUSSIA BASED ON SUSTAINABLE GROWTH RATE MODEL (SGR)

2019 ◽  
Vol 2 (5) ◽  
pp. 222-231
Author(s):  
Maksim Skobeev ◽  
Ekaterina Zemnukhova
Keyword(s):  
Oil And Gas ◽  
Sustainable Growth ◽  
Rate Model ◽  
Strategic Decisions ◽  
Sustainable Growth Rate ◽  
The Russian Federation ◽  
Real Growth ◽  
Set Up ◽  
Oil And Gas Companies ◽  
A Company

The article analyzes the theoretical and methodological basis for assessing the economic growth of a company, identifies the entities and principles that influence it. Based on the study of modern strategic concepts of growth, a computational model was set up - the sustainable growth model SGR. The calculated values are compared with the real growth of the companies of the oil and gas complex of the Russian Federation in a retrospective analysis for 2012–2017. Conclusions about the applicability of the concept when making strategic decisions in the current market conditions. The significance of this model was checked and a vector was set for further study.

scholarly journals METHODOLOGICAL RECOMMENDATIONS FOR DEVELOPMENT OF A SYS-TEM OF MONITORING OF ECONOMIC SECURITY FOR OIL AND GAS COMPANIES

2021 ◽  
Vol 1 (24) ◽  
pp. 115-120
Author(s):  
V.I. Babenkov ◽  
◽  
I.F. Zhukov ◽  
◽  
Keyword(s):  
Oil And Gas ◽  
Digital Technologies ◽  
Present Situation ◽  
Business Environment ◽  
Economic Security ◽  
Dynamic Monitoring ◽  
Oil And Gas Companies

The present paper contains a description of a system of monitoring of economic security for oil and gas companies. An analysis of specific features of functioning of oil and gas companies in the present situation is given. Three levels of monitoring of economic security are introduced. These levels correspond to three levels of business environment. The need for transition to dynamic monitoring of economic security on the basis of digital technologies is demonstrated.

scholarly journals Investigating mediating effect of perceived organizational support between SHRM practices and employee trust

2017 ◽  
Vol 9 ◽  
pp. 184797901770113
Author(s):  
Alaeldeen Al Adresi ◽  
Mohd Ridzuan Darun
Keyword(s):  
Organizational Support ◽  
Structural Equation ◽  
Perceived Organizational Support ◽  
Oil And Gas ◽  
Business Environment ◽  
Strategic Human Resource Management ◽  
Mediating Effect ◽  
Employee Trust ◽  
Sustainable Performance ◽  
Oil And Gas Companies

This article examines the relationship between strategic human resource management (SHRM) practices, perceived organizational support (POS) and employee trust. Due to uncertainty in the business environment, the Libyan oil and gas companies have been unable to focus on their internal organizational strengths and weaknesses. It has been a challenge for the organizations to deal with their internal capabilities. Therefore, the proposed framework and its findings are expected to improve our understanding of the importance of human resources (HRs) to deal with an environment that is fraught with uncertainties. Some analysis of the work in this article was conducted and presented in 2015. This article is a part of large project and a quantitative survey approach was used, followed by a sample frame consisting of the Libyan oil and gas sector companies that employ at least 50 employees. Structural equation modelling techniques were used to analyse the data. The results indicate that oil and gas companies pursuing best SHRM practices along with POS achieve enhanced trust of employees. This provides better understanding about the importance of SHRM practices to assist HR practitioners to support and manage employees, subsequently leading to sustainable performance.

Montara: broader implications

2011 ◽  
Vol 51 (2) ◽  
pp. 721
Author(s):  
Jane Cutler
Keyword(s):  
Gulf Of Mexico ◽  
Oil And Gas ◽  
Petroleum Industry ◽  
Oil And Gas Industry ◽  
Inherent Safety ◽  
Gas Industry ◽  
Safety Critical ◽  
Set Up ◽  
Fail Safe ◽  
Economic Future

After almost two years, the implications of the Montara incident and the more recent Macondo disaster are still evolving. Failure of safety critical barriers led to the Montara blowout and spill. Why did these barriers fail and what are the associated lessons for operators, regulators and governments? There are parallels with the Macondo Incident in the Gulf of Mexico and while many of the insights are particular to drilling, there are others that are applicable to other activities in the oil and gas industry. While the deepest impacts of the Macondo disaster are felt by the families and friends of those who were killed and injured, the broader implications affect the oil and gas industry itself, other industries that expect to co-exist with the petroleum industry, governments and communities, and all those—employees and investors—whose economic future is linked with the industry. Questions we should all be asking include: Is a particular operator competent enough to prevent problems? Can they afford to pay should things go wrong? Are today’s facilities being designed and built to maximise inherent safety ? Do they automatically fail safe when things go wrong ? Have we set up our regulators for success?

scholarly journals Compliance with Statement of Accounting Standard 14 by Listed Oil and Gas Firms in Nigeria

2019 ◽  
Vol 6 (1) ◽  
pp. 15
Author(s):  
Latifat Muhibudeen ◽  
Sadiya Abdulrahman
Keyword(s):  
Financial Reporting ◽  
Oil And Gas ◽  
Petroleum Industry ◽  
Annual Reports ◽  
Accounting Standard ◽  
Oil Companies ◽  
Regulatory Bodies ◽  
Oil And Gas Firms ◽  
Oil And Gas Companies

The study aimed at examining the financial statements of Companies in the Nigerian petroleum industry in other to determine their level of transparency which is a function of their level of compliance with the provisions of Statements of Accounting Standards (SAS) 14 in the upstream sector. Data were collected from annual reports and accounts of the 14 listed oil companies for the period of five years 2013 to 2017. They were analyzed using compliance index, descriptive statistics, correlation and regression. The result reveals that oil and gas companies in Nigeria strongly complied with the requirements of SAS14 with 92.44%. It also shows that the age, size of assets, ROA and Leverage of the companies have insignificantly effect on SAS 14. The study recommends that International Accounting Standard Board, Financial Reporting Council and other relevant regulatory bodies to, as a matter of urgency, commission additional and effective follow up campaigns and supervision aimed at enlightening not only corporate bodies but also individual stakeholders on the benefits derivable from compliance with requirement of SASs.

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