scholarly journals Leveraging the Covid-19 Crisis in Making Work-From-Home a Mainstream Practice in the Oil and Gas Industry

2020 ◽  
Vol 7 (6) ◽  
pp. 305
Author(s):  
Indira Dewi ◽  
Gracia Rachmi Adiarsi
Keyword(s):  
Turning Point ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Employee Productivity ◽  
Organizational Agility ◽  
Gas Industry ◽  
Work From Home ◽  
Survey Results ◽  
Mental Blocks ◽  
Oil And Gas Companies

During the COVID-19 crisis, the oil and gas industry is among industries that face challenges in selling their products and struggling to manage their cash flow. The pressure to improve financial discipline within the oil and gas industry started even before the COVID-19 crisis. This paper validates the feasibility of adopting work-from-home (WFH) as a permanent practice for oil and gas companies in Indonesia and how it will help to reduce costs, enhance employee productivity, and improve their organizational agility. The survey was conducted two weeks after the start of the forced WFH “experiment.” One hundred nine executives from various oil and gas companies in Indonesia took part in the survey. The result of this study resulted in most of the large and established companies in Indonesia, in particular, the oil and gas companies, being slow in adopting this practice. The COVID-19 crisis could be the turning point for a wider and lasting adoption of WFH in the oil and gas industry. The survey results validate that business can still run even when their employees are working from home. Also, the survey results showed that a shift of opinion toward accepting WFH as the new normal exists. The survey indicates that many companies have crossed psychological and mental blocks and are receptive to the idea of making WFH part of normal HR practices.

scholarly journals Leveraging the COVID-19 crisis in making work-from-home a mainstream practice in the oil and gas industry

2020 ◽  
Vol 4 (2) ◽  
Author(s):  
Indira Dewi ◽  
Gracia Rachmi Adiarsi
Keyword(s):  
Turning Point ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Employee Productivity ◽  
Organizational Agility ◽  
Gas Industry ◽  
Work From Home ◽  
Survey Results ◽  
Mental Blocks ◽  
Oil And Gas Companies

During the COVID-19 crisis, the oil and gas industry is among industries that face challenges in selling their products and struggling to manage their cash flow. The pressure to improve financial discipline within the oil and gas industry started even before the COVID-19 crisis. This paper validates the feasibility of adopting work-from-home (WFH) as a permanent practice for oil and gas companies in Indonesia and how it will help to reduce costs, enhance employee productivity, and improve their organizational agility. The survey was conducted two weeks after the start of the forced WFH “experiment.” One hundred nine executives from various oil and gas companies in Indonesia took part in the survey. The result of this study resulted in most of the large and established companies in Indonesia, in particular, the oil and gas companies, being slow in adopting this practice. The COVID-19 crisis could be the turning point for wider and lasting adoption of WFH in the oil and gas industry. The survey results validate that business can still run even when their employees are working from home. Also, the survey results showed that a shift of opinion toward accepting WFH as the new normal exists. The survey indicates that many companies have crossed psychological and mental blocks and are receptive to the idea of making WFH part of normal HR practices.Keywords: WFH; Management; Sustainability; Oil and Gas Industry.

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.

scholarly journals Iran’s Oil and Gas Legal Framework: from Exploration to Revolution

2019 ◽  
Vol 6 (1) ◽  
pp. 15-22
Author(s):  
Mahmoud Fard Kardel
Keyword(s):  
Comparative Analysis ◽  
Turning Point ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Legal Framework ◽  
Gas Industry ◽  
The Third ◽  
Second Period ◽  
Petroleum Oil

The main purpose of this article is to examine Iran’s legal and contractual framework for their petroleum, oil and gas industry. Basically, the legal and contractual framework of the Iranian oil and gas industry has been classified into three periods. The first period is from the exploration and discovery of oil in Iran to nationalisation (1901-1951), the second period is from nationalisation to revolution (1951-1979), and the third period is from revolution to the present day (1979-20016).Because each period has its own features and importance two articles will examine this topic. The first period (from exploration to nationalisation, 1901-1951), and second period (from nationalisation to revolution, 1951-1979), has been examined in this article with legal and comparative analysis, and the third period (1979-2016) will be covered in a later article.It should be mentioned that each contractual framework was a turning point regarding to opportunities and circumstances that they have been in that time and also each of those petroleum contractual regimes were a step toward to contractual framework evolution in Iran.

Assessment of Conflict Management in Niger Delta and Implications for Sustainable Development of Oil and Gas in Nigeria

2021 ◽  
Author(s):  
Humphrey Otombosoba Oruwari
Keyword(s):  
Conflict Management ◽  
Niger Delta ◽  
Oil And Gas ◽  
Ecological Factors ◽  
Oil And Gas Industry ◽  
Negative Effects ◽  
Gas Industry ◽  
Secondary Sources ◽  
Positive Elements ◽  
Oil And Gas Companies

Abstract Nigerian oil and gas industry have over the years witnessed incessant conflicts between the stakeholders, particularly the host communities in Niger Delta region and the oil and gas companies in partnership with the Federal Government. Conflict which is here defined as manifestation of disagreement between individual and groups arising from differing and mutually incompatible interests has both positive and negative effects depending on how it was managed. Managing conflicts is all about limiting the negative aspects. The study examined conflicts management in Nigeria oil and gas industry and how best the positive elements of conflicts can be maximally exploited for the mutual benefit of both oil and gas company and the host communities in Niger Delta. The study adopted the multidisciplinary approach, literature review, case study and relied on secondary sources using analytical method of data analysis. The study findings revealed that the major factors that precipitate conflicts between the oil and gas industry and host communities in Niger Delta include economic, social, political, and ecological factors. There are available strategies that can be used in conflict management. These include avoiding, accommodating, or smoothing, competing, or forcing, compromising, and collaborating. Any of these strategies can be used to manage conflict depending on the situation, the environment factor, and the nature of the conflict. The problem is that the oil and gas companies in partnership with the Nigerian government often adopted the wrong approach in dealing with the conflict with host communities, using avoiding or forcing strategies. The study recommends collaboration strategy which ensues long term-term solution to mutual benefits.

Applying asset-and equity-based multipliers in the valuation of oil and gas corporations

2021 ◽  
Vol 27 (1) ◽  
pp. 129-167
Author(s):  
Oleg V. SHIMKO
Keyword(s):  
Oil And Gas ◽  
Stock Exchange ◽  
Balance Sheet ◽  
Oil And Gas Industry ◽  
Comparative Approach ◽  
Consolidated Financial Statements ◽  
Gas Industry ◽  
Market Capitalization ◽  
Economic Analyses ◽  
Oil And Gas Companies

Subject. This article explores the ratios of the company's market capitalization and value to the balance sheet value of assets and equity of the twenty five leading public oil and gas companies between 2008 and 2018. Objectives. The article aims to identify key trends in the changes in market capitalization and value ratios of the company to the balance sheet value of assets and equity of the largest public oil and gas companies, identify the factors that have caused these changes, and establish the applicability of these multipliers to estimate the value of the business within the oil and gas industry. Methods. For the study, I used comparative, and financial and economic analyses, and generalization of materials of the companies' consolidated financial statements. Results. The article establishes that the multipliers studied are acceptable for assessing the value of oil and gas companies, but it is preferable to use asset-based ratios. Conclusions and Relevance. The overall decline in profitability and the increase in debt load in the stock exchange sector of the global oil and gas industry should be taken into account when using multipliers based on assets and shareholder capital in the assessment of the value of oil and gas corporations through a comparative approach. The results of the study can be used to assess the possible value of oil and gas assets as part of a comparative approach and develop measures to increase the market capitalization of public oil and gas companies.

The Impact of News on the MICEX Oil & Gas Index: Textual Analysis

2018 ◽  
Vol 2018 (4) ◽  
pp. 79-99
Author(s):  
Elena Fedorova ◽  
Oleg Rogov ◽  
Valery Klyuchnikov
Keyword(s):  
Oil And Gas ◽  
Pearson Correlation ◽  
Oil And Gas Industry ◽  
Stock Index ◽  
Gas Industry ◽  
Negative News ◽  
The Russian Federation ◽  
Oil And Gas Companies ◽  
The Impact ◽  
Oil Gas

In this study, a relationship between the mood of news and the response of the oil and gas industry index of the Russian Federation was revealed. The empirical base of the study included 8.5 million news from foreign sources. Research methodology: fuzzy sets, naive Bayesian classifier, Pearson correlation coefficient. As a result of the research, it was discovered that: 1) negative news affects the stronger than the positive on the stock index; 2) news on companies affect the value of the index, and news on the industry affect the volume of trading; 3) the sanctions did not significantly affect the coverage of Russian oil and gas companies.

scholarly journals The Factors Affecting Behaviour Based Safety (BBS) Implementation in Oil and Gas Industry

2018 ◽  
Vol 7 (3.11) ◽  
pp. 157
Author(s):  
Amanda Antonio Galis ◽  
Norfashiha Hashim ◽  
Faridah Ismail ◽  
Norazian Mohd Yusuwan
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Top Management ◽  
Organizational Safety ◽  
Gas Industry ◽  
Factors Affecting ◽  
Management Level ◽  
Management Commitment ◽  
Top Management Commitment ◽  
Oil And Gas Companies

The application of Behaviour-Based Safety (BBS) in the oil and gas industry is facing a severe challenge that safety performance may decline when BBS intervention is removed, due to the dynamic and transitory nature of working area and workforce. This research investigates the factors affecting the implementation of Behaviour-Based Safety (BBS) approach in Oil and Gas Industry. Seven oil and gas companies practicing BBS had been chosen for case study. These companies has been implementing BBS as part of the safety exercise from 2 to 20 years. The findings show that implementation of BBS started by the request from the client. Seven challenges of implementation BBS emerged during the interview that is data management, top management commitment, employee acceptance towards program, organizational safety culture and financial barrier. While, the factor that influences the implementation of BBS is the organization commitment, top management level, training and understanding of workers toward BBS are the factors that affect the implementation of BBS in oil and gas industries.  

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.

Social licence has changed. It is time to build trust with society using the tools of today

2019 ◽  
Vol 59 (2) ◽  
pp. 615 ◽  
Author(s):  
Amber Johnston-Billings ◽  
Louise Pogmore ◽  
Mike Kaiser
Keyword(s):  
Social Media ◽  
Local Community ◽  
Oil And Gas ◽  
Local Level ◽  
Oil And Gas Industry ◽  
Investment Strategy ◽  
Gas Industry ◽  
Global Issues ◽  
Time To Build ◽  
Oil And Gas Companies

International oil and gas companies have poured significant resources into building social licence since the 1990s. Despite this extensive effort at a local community level adjacent to operations, social licence has not been consistently gained and broad-based community trust in the industry is lacking. This paper argues that social licence has not been achieved globally, because oil and gas companies have failed to respond directly and appropriately to the concerns of all stakeholders. We argue that while international oil and gas companies have largely been successful in achieving and communicating the benefits they bring at a local level, in terms of royalties, local community investment, jobs and even in environmental credentials, they have not achieved social licence because it is no longer granted by only local communities. It extends to a potentially more powerful group of largely urban dwelling broader society, enabled by technology, especially social media. A new way of communicating and operating is required if oil and gas companies want to avoid the loss of social licence in future. This article contends three distinct opportunities to strengthen social licence in today’s context: 1. Understand and use social media to proactively address the concerns of all of your stakeholders. This includes responding to societal and global issues, which no longer centre on the ‘jobs, taxes and philanthropy’ dialogue that has been the mainstay of oil and gas industry communications; 2. Stress the role gas has as an enabler of renewable energy development and penetration; and 3. Review your investment strategy in light of the scientific reality of climate change. To gain social licence in future, action will be required to follow the lead of some fossil fuel majors who have already moved to build a new world, decarbonised portfolio of the future.

Decommissioning: taking control of your committed investment

2018 ◽  
Vol 58 (2) ◽  
pp. 739 ◽  
Author(s):  
Robin Polson
Keyword(s):  
Best Practices ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Board Members ◽  
Window Of Opportunity ◽  
Australian Government ◽  
Community Groups ◽  
Gas Industry ◽  
Challenges And Opportunities ◽  
Oil And Gas Companies

At the APPEA 2017 Conference in Perth, Bernadette Cullinane and Susan Gourvenec drew our attention to the looming challenge for Australia’s oil and gas industry in decommissioning its aging assets (Cullinane and Gourvenec 2017). While Cullinane and Gourvenec’s paper focussed on the experience challenge for the Australian industry, this paper will drill down to explore the funding and financial challenges and opportunities for decommissioning in the decades ahead. In approaching the decommissioning of their assets, oil and gas companies must consider a broad range of stakeholders, beyond their immediate shareholders and board members. As we have seen in the development of new projects, Australian Government, environmental organisations and community groups, all have increasingly significant impact. These stakeholders have been considered and managed with (at best) varying degrees of effectiveness in the recent past. This impact will continue to grow for decommissioning of existing assets. However, right now, with few decommissioning projects in play, the industry has a limited window of opportunity to set the agenda for how, when and under what kind of funding arrangements and financial structures decommissioning can take place. By getting ahead of the game and establishing best practices from the outset, the industry can demonstrate to Australian Government, environmental organisations and community groups a level of commitment and accountability that will allow us to move ahead on decommissioning, with reduced outside interference. The window of opportunity is closing. The time to act is now.

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