Transition to a low carbon economy in the context of the oil and gas industry

2021 ◽  
Vol 18 (2) ◽  
pp. 34-42
Author(s):  
P. N. Mikheev
Keyword(s):  
Risk Management ◽  
Oil And Gas ◽  
Transition Period ◽  
Oil And Gas Industry ◽  
Low Carbon ◽  
Adaptation To Climate Change ◽  
Gas Industry ◽  
Low Carbon Economy ◽  
Climate Risks ◽  
Carbon Economy

The article discusses issues related to the transition of the oil and gas industry to a low-carbon economy. Within the framework of the scenario approach the key risks of the transition period are considered. The importance of managing climate risks for organizations in the oil and gas industry is emphasized. The prospect of including climatic risks in the general risk management system of the organization is shown. Examples of the implementation of new approaches to climate risk management and adaptation to climate change in Russia and abroad are given.

What comes next: responding to recommendations from the task force on climate-related financial disclosures (TCFD)

2018 ◽  
Vol 58 (2) ◽  
pp. 633 ◽  
Author(s):  
Shiva Tyagi
Keyword(s):  
Carbon Capture ◽  
Large Scale ◽  
Fossil Fuels ◽  
Oil And Gas ◽  
Task Force ◽  
Carbon Capture And Storage ◽  
Oil And Gas Industry ◽  
Low Carbon ◽  
Gas Industry ◽  
Low Carbon Economy

The task force on climate-related financial disclosures (TCFD) published its recommendations for disclosing climate-related risks in June 2017. The TCFD report represents a framework for companies to disclose climate-related information consistently in their mainstream financial filings. Reporting financial activity using the lens of climate-related risk would, according to the TCFD, help more appropriately price risks and allocate capital in the context of climate change. The initiative, while voluntary, would help speed the transition to a low-carbon economy, and help shift the corporate perspective beyond immediate concerns. The oil and gas industry can play a leading role in the transition to a low carbon economy through: carbon capture and storage, use of natural gas as a transition fuel and the implementation of large-scale renewable energy projects. Given the oil and gas industry’s global leadership in petroleum geology, resource extraction and pipeline transmission, the industry has a vital role in testing the feasibility of large-scale carbon capture and storage. Fossil fuels and renewable energy technologies have obvious complementary synergies and fossil fuels like natural gas are necessary for the reliable, affordable and low-cost transition to a low carbon transition pathway. The oil and gas industry may be the only sector with the requisite expertise and global scale of operations to test and implement large-scale renewable technology initiatives within a public-private partnership framework. Moreover, oil and gas companies are well positioned to be leaders in the effort to adapt and strengthen resilience to the effects and risks of climate change and reduce impacts.

Mining the air: Political ecologies of the circular carbon economy

2021 ◽  
pp. 251484862110614
Author(s):  
Holly Jean Buck
Keyword(s):  
Fossil Fuels ◽  
Oil And Gas ◽  
New Technologies ◽  
Oil And Gas Industry ◽  
Carbon Utilization ◽  
Gas Industry ◽  
The Public ◽  
Fossil Carbon ◽  
Political Ecologies ◽  
Carbon Economy

Can fossil-based fuels become carbon neutral or carbon negative? The oil and gas industry is facing pressure to decarbonize, and new technologies are allowing companies and experts to imagine lower-carbon fossil fuels as part of a circular carbon economy. This paper draws on interviews with experts, ethnographic observations at carbontech and carbon management events, and interviews with members of the public along a suggested CO2 pipeline route from Iowa to Texas, to explore: What is driving the sociotechnical imaginary of circular fossil carbon among experts, and what are its prospects? How do people living in the landscapes that are expected to provide carbon utilization and removal services understand their desirability and workability? First, the paper examines a contradiction in views of carbon professionals: while experts understand the scale of infrastructure, energy, and capital required to build a circular carbon economy, they face constraints in advocating for policies commensurate with this scale, though they have developed strategies for managing this disconnect. Second, the paper describes views from the land in the central US, surfacing questions about the sustainability of new technologies, the prospect of carbon dioxide pipelines, and the way circular carbon industries could intersect trends of decline in small rural towns. Experts often fail to consider local priorities and expertise, and people in working landscapes may not see the priorities and plans of experts, constituting a “double unseeing.” Robust energy democracy involves not just resistance to dominant imaginaries of circular carbon, but articulation of alternatives. New forms of expert and community collaboration will be key to transcending this double unseeing and furthering energy democracy.

On Approaches to Taking into Account the Risks of Changing Climatic Conditions when Planning and Implementing Oil and Gas Projects

2021 ◽  
Vol 18 (1) ◽  
pp. 52-65
Author(s):  
P. N. Mikheev
Keyword(s):  
Climate Change ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Climatic Conditions ◽  
Qualitative Assessment ◽  
Physical Factors ◽  
Gas Industry ◽  
Climate Risks ◽  
The Impact

The article discusses issues related to the impact of climate change on the objects of the oil and gas industry. The main trends in climate change on a global and regional (on the territory of Russian Federation) scale are outlined. Possible approaches to the identification and assessment of climate risks are discussed. The role of climatic risks as physical factors at various stages of development and implementation of oil and gas projects is shown. Based on the example of oil and gas facilities in the Tomsk region, a qualitative assessment of the level of potential risk from a weather and climatic perspective is given. Approaches to creating a risk management and adaptation system to climate change are presented.

ENVIRONMENTAL RISK MANAGEMENT: A PROPOSED SCHEME

1997 ◽  
Vol 37 (1) ◽  
pp. 714
Author(s):  
H.B. Goff ◽  
R.K. Steedman
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Environmental Risk ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Transport Processes ◽  
Assessment Process ◽  
Gas Industry ◽  
Environmental Risk Management ◽  
The Impact

Environmental risk assessment is becoming an increasingly important factor in the assessment process for new projects. The oil and gas industry is familiar with assessing and managing risks from a wide range of sources. In particular, risk assessment and management is fundamental to the evaluation and implementation of Safety cases. Risk assessment is essential in valuing exploration acreage. Various industry and government risk management standards and criteria have been developed for public and occupational health and safety.This paper examines the extension of these approaches to environmental risk management for the offshore oil and gas industry and proposes a conceptual management scheme.We regard risk as the probability of an event occurring and the consequences of that event. The risk is classified into four categories, namely:primary risk, which relates to the mechanical oilfield equipment;secondary risk, which relates to the natural transport processes. For example dispersion of oil in the water column and surrounding sea;the tertiary risk, which relates to the impact on some defined part of the physical, biological or social environment; andthe quaternary risk, which relates to the recovery of the environment from any impact.Generally the methods of quantitatively analysing primary and secondary risks are well known, while there remains considerable uncertainty surrounding the tertiary and quaternary risk and they are at best qualitative only. An example of the method is applied to coral reef and other sensitive areas which may be at risk from oil spills.This risk management scheme should assist both operators and regulators in considering complex environmental problems which have an inherent uncertainty. It also proves a systematic approach on which sound environmental decisions can be taken and further research and analysis based. Perceived risk is recognised, but the management of this particular issue is not dealt with.

Addressing Adaptation to Climate Risks in the Oil and Gas Industry

2014 ◽  
Author(s):  
William Landuyt ◽  
Arthur Lee ◽  
Laura Verduzco ◽  
Jeremy Castaneda ◽  
Robert Siveter
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Climate Risks

scholarly journals Strategic perspectives of the oil and gas sector industrial development

2021 ◽  
Vol 14 (4) ◽  
pp. 369-374
Author(s):  
O. I. Kalinskiy ◽  
M. A. Afonasiev
Keyword(s):  
Carbon Capture ◽  
Industrial Development ◽  
Oil And Gas ◽  
Storage System ◽  
Carbon Capture And Storage ◽  
Energy Transition ◽  
Oil And Gas Industry ◽  
Low Carbon ◽  
Gas Industry ◽  
Oil And Gas Sector

The authors study oil and gas industry, its condition and perspective trends of industrial development. One of them involves applying low carbon and low cost technologies. The authors introduce new strategic imperatives in oil and gas sector to perform energy transition. They study the types of categories of perspective trends of the industry’s development: scaling up the development and implementation of a carbon capture and storage system, using low carbon raw materials, making it possible to take granular measurements. The article deals with perspectives of the oil and gas industry for the current year. The perspectives are built with the consideration of the previous year’s indicators and include all the past disasters and the dynamics of their solution and the results for the society. The authors show wider implementation of drones used for abnormal emissions of hydrogen sulfide to carry out distant monitoring, observations, inspections and preventive maintenance, change tracking, methane management, emergency response and material processing. The article describes precision drilling which reduces the risk of accidents, oil spills, fires and increases rate of penetration. The authors present microwave hydraulic fracturing which can become the next significant achievement in the perspective development of the industry.

scholarly journals Risk Management in Oil and Gas (EPC) Industry

2021 ◽  
Vol 9 (9) ◽  
pp. 1255-1264
Author(s):  
Prashant Pralhad Kadam
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Oil And Gas ◽  
Safety Management ◽  
Management Strategies ◽  
Oil And Gas Industry ◽  
Construction Costs ◽  
Defective Items ◽  
Gas Industry ◽  
Risk Management Strategies

Abstract: The five most important risk factors identified in the design phase are 1] scope uncertainty, 2] failed management and planning, 3] changes in errors and omissions, 4] inadequate projectS team structure, 5] inadequate quality requirements. The top five risk factors determined by the procurement category are 1] Inadequate online resources and equipment, 2] Distribution of suppliers, 3] Uncertainty in design and style, codes, requirements and standards, 4] Defective items, and 5] Compromise. The 5 most important risk factors identified in the construction phase are 1] weak project capability, 2] excessive construction costs, 3] major construction delays, 4] strong project plan, and 5] poor safety management .This was initiated by the link between risk factors and the effects on price, quality and timing, as well as the potential for expensive, common, and high-quality outcomes. Keywords: Disaster risk management, risk management strategies, project risk management, oil and gas industry.

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