scholarly journals Ecological rating as an indicator of geoenvironmental risk management of Russian oil and gas companies in the Arctic

2019 ◽  
Vol 16 (2) ◽  
pp. 58-69 ◽  
Author(s):  
O. P. Trubitsina ◽  
V. N. Bashkin
Keyword(s):  
Oil And Gas ◽  
Arctic Region ◽  
Oil And Gas Industry ◽  
The Arctic ◽  
Management Model ◽  
Environmental Responsibility ◽  
Gas Industry ◽  
Foreign Investors ◽  
Oil And Gas Companies ◽  
The Arctic Region

The article is devoted to the issues of environmental ratings as an indicators of the process of geoenvironmental risk (GER) management of Russian oil and gas companies, operating in theArctic. The authors demonstrate the algorithm of GER management model processes and reveal the need to use environmental ratings for the oil and gas industry. Particular attention is given to the issues of rating results of Environmental Responsibility of Oil and Gas companies in Russia that was held in 2014—2017 years. It was conducted by the cooperative initiative by CREON Group and WWF Russia with participation of National Rating Agency. The authors have selected from all Russian oil and gas companies only those who operating in the Arctic region and they have analyzed them. The rating's results show that the leaders are companies whose management pays special attention to gas. They are Sakhalin Energy (Sakhalin-2), Gazprom and Zarubezhneft. The authors point out that the environmental rating of Russian oil and gas companies can serve as an indicator of GER management, as a tool to inform foreign investors about the environmental impact to ensure the ecological safety of the region.

scholarly journals ARCTIC TOURISM: STATE AND PROSPECTS FOR RUSSIA

2019 ◽  
Vol 11 (4) ◽  
pp. 5-13 ◽  
Author(s):  
Yuriy N. Golubchikov ◽  
Victor I. Kruzhalin ◽  
Aleksandra D. Nikanorova
Keyword(s):  
Oil And Gas ◽  
Arctic Region ◽  
Oil And Gas Industry ◽  
The Arctic ◽  
Arctic Ecosystems ◽  
Gas Industry ◽  
Human Presence ◽  
Key Factor ◽  
Travel Industry ◽  
The Arctic Region

Tourism is the key factor of human presence in the Arctic region. The number of tourist visits has been growing extensively since the end of XX century. The Arctic region is not regarded only as prospective region for oil and gas industry but now it is also recognized as the region with high potential for tourism development. The research is dedicated to the assessment of the spatial distribution of human presence within the Arctic region on the basis of statistical analysis of population and tourist visits in different parts of the Arctic. Taking into account the uncertainty of regional Arctic borders definition, which are commonly determined in accordance with given purposes and tasks, we assessed the population and tourist visits for the Arctic Zone of the Russian Federation as administrative union as well as for the Arctic region as physic-geographical region.The growing number of tourists in the Arctic region influences future development prospects of the region. In 2017 the Arctic region with population of 4.3 million people was visited by 10.2 million tourist. While the favorable environmental conditions of Arctic ecosystems exist, the Arctic region should be considered as the source of nature resources for tourism and various recreational activities. Modern technologies enable the development of travel industry in the region, and therefore the industrial paradigm of “conquer” and “utilization” should be replaced with the axiological paradigm of “Arctic beauty” and recreational resource value.

scholarly journals Forecasting of Technology Development of the Arctic Hydrocarbon Resources’ Extraction

2020 ◽  
Vol 162 ◽  
pp. 01008
Author(s):  
Tatiana Chvileva
Keyword(s):  
Oil And Gas ◽  
Technology Development ◽  
Arctic Region ◽  
Oil And Gas Industry ◽  
Integrated Approach ◽  
The Arctic ◽  
Gas Industry ◽  
Industrial Systems ◽  
Technological Forecasting ◽  
Energy Needs

The Arctic region has a great potential in development of hydrocarbon resources and can play an important role in meeting future global energy needs. In the presented work the specific features of the Arctic hydrocarbon projects are identified. Key needs of oil and gas industry in technology development within the framework of projects of extraction of hydrocarbon resources in the Arctic are revealed. A critical analysis of technological forecasting methods is presented. Problems and prospects of their use in the conditions of the Arctic zones are established. The need for an integrated approach to forecasting the development of industrial systems of the Arctic zone is justified.

The Assessment of Environmental Responsibilityof Oil and Gas Companies Operating in Russia: the Rating Approach

2015 ◽  
Vol 2015 (5) ◽  
pp. 46-67
Author(s):  
Evgeniy Shvarts ◽  
Aleksey Knizhnikov ◽  
Alexandr Pakhalov ◽  
Marina Sheresheva
Keyword(s):  
Oil And Gas ◽  
Positive Impact ◽  
Oil And Gas Industry ◽  
Comprehensive Analysis ◽  
Comparative Assessment ◽  
Point Of View ◽  
Environmental Responsibility ◽  
Gas Industry ◽  
Qualitative And Quantitative ◽  
Oil And Gas Companies

The paper analyses methodological features and results of the first Russian oil and gas companies environmental rating. This rating is relevant because Russian oil and gas industry plays a key role in the national economy and at the same time it is unfavorable and nontransparent from an environmental point of view. Our study aims to provide a comparative assessment of environmental responsibility of oil and gas companies operating in Russia. The study is based on a comprehensive analysis of qualitative and quantitative corporate indicators in three areas: environmental management, environmental impact and disclosure. Results of the rating indicate a high differentiation among Russian oil and gas companies in terms of environmental responsibility and transparency. Public listing of shares as well as linkages between shareholders and regional communities are among factors that have positive impact on the level of environmental responsibility of oil and gas companies.

scholarly journals Geopolitical Risks of Hydrocarbon Development in the Russian Arctic

2021 ◽  
pp. 109-127
Author(s):  
Olga P. TRUBITSINA ◽  
◽  
Vladimir N. BASHKIN ◽  
Keyword(s):  
Legal Status ◽  
Oil And Gas ◽  
Arctic Region ◽  
Oil And Gas Industry ◽  
The Arctic ◽  
Russian Arctic ◽  
The Sustainable Development ◽  
Geopolitical Risks ◽  
The Arctic Region ◽  
Hydrocarbon Development

The article is devoted to the issues of geopolitical risks (GPR) in the hydrocarbon development of the Russian Arctic. The authors pay special attention to the analysis of modern geopolitical and geostrategic challenges of the Arctic region development. The article identifies the key geopolitical factors that affect the sustainable development of the Arctic and analyzes the similarities and differences in the geostrategic positions of the Arctic Five. One of the most important factors of the XXI century that determines the alignment and interaction of various geopolitical forces is the struggle for resources. In this regard, an increase in GPR in the Arctic, related to its resource potential, is inevitable. For oil and gas industry facilities, GPR can be transformed into opposite environmental factors in the form of additional opportunities or threats, which the authors identify in detail for each type of risk. The authors focus on such positions of the GPR, which are related to ensuring access and obtaining control rights over the Arctic's hydrocarbon resources from different countries, the uncertainty of the legal status of the Arctic region, and the use of geoecological risks (GER) as manipulative priorities of attention to Russia's actions in the Arctic.

Dynamics of Environmental Responsibility of Oil and Gas Facilities in the Russian Arctic: Rating Approach for 2014—2019

2020 ◽  
Vol 17 (6) ◽  
pp. 10-21
Author(s):  
O. P. Trubitsina ◽  
V. N. Bashkin
Keyword(s):  
Risk Analysis ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
The Arctic ◽  
Environmental Responsibility ◽  
Russian Arctic ◽  
Gas Industry ◽  
Oil And Gas Sector

The article is a continuation of several publications by the authors in the journal "Issues of Risk Analysis". It is aimed at identifying the dynamics of environmental responsibility of oil and gas industry facilities in the Russian Arctic using the rating approach for 2014—2019. The results of the rating analysis revealed the general and differentiated dynamics of greening of the Arctic oil and gas sector enterprises in three sections: management, operational and information. The leaders of the environmental rating were identified: Sakhalin energy (Sakhalin-2), LUKOIL, Gazprom, and Zarubezhneft.

GEOPOLITICAL RISKS OF HYDROCARBON DEVELOPMENT IN THE RUSSIAN ARCTIC

2021 ◽  
Vol 43 (1) ◽  
pp. 41-53
Author(s):  
Olga TRUBITSINA ◽  
Vladimir BASHKIN
Keyword(s):  
Oil And Gas ◽  
Arctic Region ◽  
Oil And Gas Industry ◽  
The Arctic ◽  
Russian Arctic ◽  
Gas Industry ◽  
The Sustainable Development ◽  
Factors Affecting ◽  
Geopolitical Risks ◽  
Hydrocarbon Development

The article is devoted to the issues of geopolitical risks (GPR) in the hydrocarbon development of the Russian Arctic. Meanwhile, the authors pay special attention to the analysis of modern geopolitical and geostrategic challenges to the development of the Arctic region. The key geopolitical factors affecting the sustainable development of the Arctic are identified, similarities and differences in the geostrategic priorities of the Arctic Five countries are analyzed. GPR can be transformed into opposite environmental factors of oil and gas industry objects in the form of additional opportunities or threats, which the authors identify in detail for each type of risk.

Consideration of Geopolitical Challenges within the Analysis of Geoenvironmental Risks for Oil and Gas Development of the Russian Arctic

2019 ◽  
Vol 16 (6) ◽  
pp. 50-59
Author(s):  
O. P. Trubitsina ◽  
V. N. Bashkin
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Optimal Operation ◽  
The Arctic ◽  
Stage Model ◽  
Oil And Gas Development ◽  
Gas Industry ◽  
The Impact ◽  
Further Development ◽  
Geopolitical Risks

The article is devoted to the consideration of geopolitical challenges for the analysis of geoenvironmental risks (GERs) in the hydrocarbon development of the Arctic territory. Geopolitical risks (GPRs), like GERs, can be transformed into opposite external environment factors of oil and gas industry facilities in the form of additional opportunities or threats, which the authors identify in detail for each type of risk. This is necessary for further development of methodological base of expert methods for GER management in the context of the implementational proposed two-stage model of the GER analysis taking to account GPR for the improvement of effectiveness making decisions to ensure optimal operation of the facility oil and gas industry and minimize the impact on the environment in the geopolitical conditions of the Arctic.The authors declare no conflict of interest

Trends and Prospects of Development of the Oil and Gas Sector in the Context of Digitalization

2020 ◽  
Vol 26 (1) ◽  
pp. 35-45 ◽  
Author(s):  
A. G. Kazanin
Keyword(s):  
Oil And Gas ◽  
Digital Technologies ◽  
Oil And Gas Industry ◽  
Global Market ◽  
The Arctic ◽  
Business And Society ◽  
Gas Industry ◽  
Exploration And Production ◽  
Oil And Gas Sector

The modern oil and gas industry is heavily dependent on the processes and trends driven by the accelerating digitalization of the economy. Thus, the digitalization of the oil and gas sector has become Russia’s top priority, which involves a technological and structural transformation of all production processes and stages.Aim. The presented study aims to identify the major trends and prospects of development of the Russian oil and gas sector in the context of its digitalization and formation of the digital economy.Tasks. The authors analyze the major trends in the development of the oil and gas industry at a global scale and in Russia with allowance for the prospects of accelerated exploration of the Arctic; determine the best practices of implementation of digital technologies by oil and gas companies as well as the prospects and obstacles for the subsequent transfer of digital technologies to the Russian oil and gas industry.Methods. This study uses general scientific methods, such as analysis, synthesis, and scientific generalization.Results. Arctic hydrocarbons will become increasingly important to Russia in the long term, and their exploration and production will require the implementation of innovative technologies. Priority directions for the development of many oil and gas producers will include active application of digital technologies as a whole (different types of robots that could replace people in performing complex procedures), processing and analysis of big data using artificial intelligence to optimize processes, particularly in the field of exploration and production, processing and transportation. Digitalization of the oil and gas sector is a powerful factor in the improvement of the efficiency of the Russian economy. However, Russian companies are notably lagging behind in this field of innovative development and there are problems and high risks that need to be overcome to realize its potential for business and society.Conclusions. Given the strategic importance of the oil and gas industry for Russia, its sustainable development and national security, it is recommendable to focus on the development and implementation of digital technologies. This is crucial for the digitalization of long-term projection and strategic planning, assessment of the role and place of Russia and its largest energy companies in the global market with allowance for a maximum number of different internal and external factors.

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.

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