scholarly journals Lessons Learned from BP: Deepwater Horizon and the Transition to Renewables

2021 ◽  
Vol 2 (Fall/Winter) ◽  
pp. 1-15
Author(s):  
Daniel Valle
Keyword(s):  
Oil And Gas ◽  
Deepwater Horizon ◽  
Lessons Learned ◽  
Gradual Transition ◽  
British Petroleum ◽  
Ethical Practices ◽  
Energy Company ◽  
Before And After ◽  
Oil And Gas Companies ◽  
A Company

This paper analyzes the gradual transition of British Petroleum (BP), one of the world's largest oil and gas companies, into a renewable energy company focused on sustainability and the reduction of carbon emissions. BP's leadership and ethical practices are compared before and after the 2010 Deepwater Horizon disaster. The purpose of the comparison and the broader analysis of the transition is to identify how effective leadership can be used to transform a company with a suspect social responsibility record into a leader among its peers. Lessons learned from the disaster, and the subsequent transition conclude the research.

Developing Turnaround Maintenance (TAM) Model to Optimize TAM Performance Based on the Critical Static Equipment (CSE) of GAS Plants

2019 ◽  
Vol 01 (01) ◽  
pp. 12-31
Author(s):  
Abdelnaser Elwerfalli ◽  
M. Khurshid Khan ◽  
J. Eduardo Munive-Hernandez
Keyword(s):  
Oil And Gas ◽  
Reliability Function ◽  
Operating Conditions ◽  
Normal Operation ◽  
Tam Model ◽  
Third Stage ◽  
Inspection And Maintenance ◽  
Oil And Gas Companies ◽  
A Company ◽  
Gas Plants

Many oil and gas companies have suffered major production losses, and higher cost of maintenance due to the total shutdown of their plants to conduct TAM event during a certain period and according to scope of work. Therefore, TAM is considered the biggest maintenance activity in oil and gas plant in terms of manpower, material, time and cost. These plants usually undergo other maintenance strategies during normal operation of plants such as preventive, corrective and predictive maintenance. However, some components or units cannot be inspected or maintained during normal operation of plant unless plant facilities are a totally shut downed due to operating risks. These risks differ from a company to another due to many factors such as fluctuated temperatures and pressures, corrosion, erosion, cracks and fatigue caused by operating conditions, geographical conditions and economic aspects. The aim of this paper is to develop a TAM model to optimize the TAM scheduling associated with decreasing duration and increasing interval of the TAM of the gas plant. The methodology that this paper presents has three stages based on the critical and non-critical pieces of equipment. At the first stage, identifying and removing Non-critical Equipment pieces (NEs) from TAM activity to proactive maintenance types. During the second stage, the higher risk of each selected equipment is assessed in order to prioritize critical pieces of equipment based on Risk Based Inspection (RBI). At the third stage, failure probability and reliability function for those selected critical pieces of equipment are assessed. The results of development of the TAM model is led to the real optimization of TAM scheduling of gas plants that operated continuously around the clock in order to achieve a desired performance of reliability and availability of the gas plant, and reduce cost of TAM resulting from the production shutdown and cost of inspection and maintenance.

scholarly journals ANALYSIS OF WORK SAFETY PERFORMANCE OF CONTRACTOR COMPANIES IN OIL AND GAS COMPANY X CILACAP

2019 ◽  
Vol 5 (3) ◽  
pp. 124-131
Author(s):  
Clara Dewinda ◽  
Yuliani Setyaningsih ◽  
Hanifa Maher Denny
Keyword(s):  
Oil And Gas ◽  
Safety Management ◽  
Research Work ◽  
Safety Performance ◽  
Survey Method ◽  
Work Safety ◽  
Quantitative Descriptive ◽  
Oil And Gas Companies ◽  
The Relationship ◽  
A Company

Abstract Background   : Safety in a company is the main and first thing. No exception in oil and gas company X in Cilacap, Indonesia. This company requires that all contractor companies that send their workers be required to fulfill the Contractor Safety Management System (CSMS) in this oil and gas company. This study is intended to analyze the work safety performance of workers sent by the contractor companies of the oil and gas company X. Methods   :This research is a quantitative descriptive study that uses a sample of respondents. The research method used in this study is the survey method by interviewing each selected respondent. Results        : The results of this study indicate the relationship between each selected variable related to work safety performance in this oil and gas company X. Conclusion   : It is expected that with this research, work safety in oil and gas companies X can be further enhanced for the good in the future. Keywords     :work safety performance, contractor companies, oil and gas company

scholarly journals Empirical Analysis of Capital Structure Determinants of Russian Oil and Gas Companies

2018 ◽  
Vol 13 (5) ◽  
pp. 80-109 ◽  
Keyword(s):  
Capital Structure ◽  
Oil And Gas ◽  
Structure Form ◽  
Financing Decisions ◽  
Western Market ◽  
Definition Of ◽  
Oil And Gas Companies ◽  
A Company ◽  
The Capital Structure

The theory of capital structure, developed in the last century, determines the factors on the basis of which the management of a given company must form its system of financing decisions in order to optimize the capital structure and, accordingly, to increase the company’s value. Despite the fact that the data of the theory are based on the fundamental concepts of corporate finance, such as the present value of future revenues, information asymmetry, and profitability, the tenets of different theories contradict each other. These ambiguous results concerning the influence of various factors on a company’s capital structure form the motivation and problem of this study. Decisions on financing a company have an impact on its value, and therefore its financing method is a very significant factor for investors, directors and other stakeholders, which makes the study of target capital structure determinants particularly relevant. The topic of the capital structure of Russian companies has barely been addressed in existing studies, since most often they are based on the Western market. Thus, the identification of regularities in the system of decisions on capital structure through the case study of oil and gas companies in Russia, as well as the definition of theories that explain these patterns, are of particular interest, motivated by the ambiguity of previous studies, and the lack of such studies on Russian companies. Identifying the existing patterns affecting decisions on capital structure and the theoretical framework that describes them will enable companies to develop their own system of capital structure decisions.

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.

Review of Projects for the Implementation of Innovative Industrial Safety Technologies in Foreign Oil and Gas Companies

2021 ◽  
pp. 30-42
Author(s):  
Denis Siutin ◽  
Svetlana Kutsenko
Keyword(s):  
Oil And Gas ◽  
Industrial Safety ◽  
Practical Significance ◽  
Annual Reports ◽  
British Petroleum ◽  
Innovative Technologies ◽  
Current Trends ◽  
Royal Dutch Shell ◽  
Industrial Injuries ◽  
Oil And Gas Companies

The introduction of innovative technologies to ensure industrial safety in oil and gas companies is aimed at reducing the number of accidents, industrial injuries, incidents and occupational diseases in the implementation of both main and auxiliary activities. The article presents the results of a study of innovative projects to ensure industrial safety on the example of foreign oil and gas companies: Royal Dutch Shell (Shell), ExxonMobil, British Petroleum (BP), Total, Chevron, Eni, Equinor, Sinopec, PetroChina, CNOOC, Petrobras, Saudi Aramco, Hydro, PVDSA. The directions and current trends in the development of innovative technologies in the field of industrial safety (labor protection, industrial safety, fire safety, road safety, environmental protection) for the period 2016-2020 are summarized. The research methodology is based on the analysis of information from open sources, including annual reports of companies and reports on sustainable development. The results obtained have theoretical and practical significance for oil and gas of the Russian Federation, state executive authorities.

scholarly journals Oil and gas companies in the innovation conditions of economic development in Kazakhstan

2019 ◽  
Vol 135 ◽  
pp. 04025 ◽  
Author(s):  
Sayabek Ziyadin ◽  
Khakimzhan Malayev ◽  
Gulmira Yessenova ◽  
Anar Beyzhanova
Keyword(s):  
Global Economy ◽  
Manufacturing Industry ◽  
Oil And Gas ◽  
Cash Flows ◽  
Innovation Activity ◽  
Company Value ◽  
Main Development ◽  
Oil And Gas Companies ◽  
A Company ◽  
Oil And Gas Sector

The article shows that the implementation of oil and gas companies will be implemented in many sectors of the global economy, including the main development sector-manufacturing industry. In Kazakhstan, “positive” experience has been accumulated in connection with the implementation of the oil and gas sector, because it is one of the main aspect of the global industries in our republic. The purpose of this article is to identify trends in the innovative development of the manufacturing industry, as well as to systematize the basic elements of the development industry and economic growth of the country. The correlation analysis will show how the innovation activity of the companies influencing on the GRP of the country. The potential of the company contains any and all available resources: financial, labor, material, immaterial and others, as well as the ability of managers to manage these resources in order to create products and services and to maximize earnings. For the purpose of getting the full company value the company’s potential should be taken into account while applying the income method for valuation oil and gas companies, in calculating the discounted cash flows. The potential management can influence the value of a company and, consequently, the company management.

scholarly journals The Analysis of Financial Stability and Profitability of British Petroleum (BP) for the period 2014–2019

2020 ◽  
Vol 8 (1) ◽  
pp. 27-33
Author(s):  
Yu. Tumanov
Keyword(s):  
Performance Indicators ◽  
Financial Stability ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
British Petroleum ◽  
Gas Industry ◽  
Commercial Organization ◽  
The Given ◽  
A Company

Any commercial organization tends to make a profit in the course of its activity. As a result, these enterprises may be risky since they take different risks in pursuit of generating a profit and achieving other goals. Taking various risks might make a company less financially stable. In other words, the level of financial stability of a company is likely to be decreased. The importance of the given topic is that analyzing the financial stability and profitability of an entity enables us to determine how financially stable and profitable a company is. Moreover, this analysis allows finding out how particular indicators change from year to year and to prevent a decrease in financial stability and profitability indicators. This paper may be considered as an attempt to analyze the financial stability and profitability of one company from the oil and gas industry, specifically, British Petroleum (BP) for the period from 2014 to 2019. Besides, some recommendations may be developed in terms of increasing the company’s performance indicators if necessary.

scholarly journals Measuring the effectiveness of mergers and acquisitions: features of the application of the DEA method

2018 ◽  
pp. 58-65
Author(s):  
S. N. Virabyan
Keyword(s):  
Oil And Gas ◽  
Practical Importance ◽  
First Year ◽  
Total Change ◽  
Before And After ◽  
Dea Method ◽  
Definition Of ◽  
Oil And Gas Companies ◽  
The Given ◽  
Selection Of

With every year, the application of merges and acquisitions strategy becomes more and more topical for Russian companies. One of the most topical issues is carrying out the analysis of efficiency of M&A transactions that is also confirmed by increasing the number of works in the field of assessment of efficiency of M&A transactions of companies. In this article, the main methods of assessment of efficiency of M&A transactions, and also possibility of use of the DEA method in determining efficiency of transactions of the oil and gas companies are considered for example. The comparative analysis of application of traditional methods and the DEA method using example of an assessment of efficiency of acquisition of JSC Rosneft is carried out. Results of the analysis showed that it is necessary to carry out a complex assessment of productivity of the M&A transaction, using some methods and assessment approaches, since the DEA method not always works in a section of an assessment of efficiency before and after the transaction. So, according to the given calculations, the effect of acquisition in the first year after acquisition was positive (0,001%), but by 2014 became 0,9%. Profitability of assets as started decreasing, and two years later the total change became 5%. Thus profitability of the capital increased in the first year by 26% however in a year this value decreased. At the same time, this method is applicable for an express choice of the companies purposes from a large number of the companies. The sequence of steps is developed for DEA method application in an assessment of efficiency of carrying out transactions on merges and acquisitions, and also a technique of definition of DMU for an assessment of efficiency of one transaction within DEA method use that gives to research the high practical importance. Recommendations about express selection of the companies purposes for carrying out the transaction of M&A are made.

Riding the green wave: are oil and gas companies jumping on board?

2019 ◽  
Vol 59 (3) ◽  
Author(s):  
Marlene Motyka
Keyword(s):  
Renewable Energy ◽  
Oil And Gas ◽  
Energy Company ◽  
Growth Opportunity ◽  
New Entrants ◽  
The Right ◽  
Oil And Gas Companies ◽  
Green Box

In many countries renewable energy was originally driven by utilities, independent power producers, government entities or a combination of these. Renewable energy was seen as being on the fringes and not viable long term. The perspective has changed and now increasingly new entrants have emerged, in particular oil and gas companies. Why is this the case? Is it because they are redefining what it means to be an energy company? It is because it supports diversification? Is it because renewable energy is seen as a growth opportunity? Is to check the 'green' box? We’ll investigate the reasons that new entrants are emerging and what it means for the sector. To view the video, click the link on the right.

Benefits of Using Requirements Management Tools on a Digitized API 17O Document

2021 ◽  
Author(s):  
Reynaldo Celestial Climacosa ◽  
Sierra Foster Matlock ◽  
Joveline Anne Ollero ◽  
David Miller
Keyword(s):  
Oil And Gas ◽  
American Petroleum Institute ◽  
Lessons Learned ◽  
Management Tool ◽  
Background Information ◽  
Requirements Management ◽  
Management Tools ◽  
Requirements Quality ◽  
High Integrity ◽  
Oil And Gas Companies

Abstract Currently oil and gas companies are spending billions of dollars on digitalization efforts. One important aspect of a project that needs to be digitized are requirements. Most oil and gas companies receive project documentation and requirements as PDF files. Receiving PDF documents make it very difficult for companies to manipulate the content to identify which parts of the document are requirements and which parts are just background information. In addition, documents that contain requirements have poorly written requirements that are ambiguous, and can have many interpretations, making it difficult to show compliance. To solve the issues caused by poorly written requirements and receiving PDF files instead of receiving requirements in a more usable format, the solution is to rewrite the requirements and use a requirements management (RM) tool to put the requirements in a database. The American Petroleum Institute (API) 17O 2nd Edition document and a representative list of High Integrity Pressure Protection System (HIPPS) product requirements are used to show the benefits of using a requirements management tool. This paper will describe the prerequisites prior to selecting an RM tool, show how using a requirements quality analyzer tool can aid in preparing requirements to be imported into an RM tool, demonstrate the main benefits of using an RM tool in a project context, and discuss lessons learned from adding an RM tool to a document-based project.

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