Considerations Regarding Environmental Aspects of Risk Management in the Oil and Gas Industry

2018 ◽  
Vol 27 ◽  
pp. 213-218 ◽  
Author(s):  
Mădălina Albu
Keyword(s):  
Risk Management ◽  
Natural Gas ◽  
Management System ◽  
Power Plants ◽  
Oil And Gas ◽  
Thermal Power ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Majority Population ◽  
System Risk

The current global industry depends to a large extent on oil, gas and products. Hydrocarbons form of oil and its derivatives have become the main source of energy for the majority population. Crude oil, through its many uses is very important because it is cleaner than coal and cheaper and easier to transport than natural gas. Sometimes it called "black gold" and provides nearly half of the energy used in the world. Without it, would block transportation and large industrial equipment or thermal power plants could not operate.All activities of an organization involve risks and risk management is the process of substantiating the decision, taking into account the effects of uncertainty on objectives materialize and the establishment of measures and actions needed. To have the expected effectiveness within the organization, risk management must become an integral part of the administration, politics and culture of the organization. Environmental risk management differs significantly from other types of risk management due to the fact that its particular characteristics reflecting the complexity of the environmentEnvironmental risk management is an integral part of the overall management system. Establishing detailed integration or interaction management system risk management system or environmental management systems implemented by the organization must not lead to increase resources needed for this process.Safety and environmental issues top the agenda remains in the oil and gas companies when it comes to risk management. Oil and natural gas, both extraction and transport, has a range of important risks both to workers from these activities by accidents at work are exposed to people from neighboring villages (major accident) and for the environment.This paper presents theoretical and practical considerations regarding the implementation of the concept of risk management in their activity in the oil and gas industry and emphasizes the aspects of the environmental risks of oil industry. In the first part of the paper theoretical considerations are made on risk management and risk management standard. In the second part also presents practical aspects of how risk management is implemented in the oil and gas industry.

scholarly journals Enterprise Risk Management In The Oil And Gas Industry: An Analysis Of Selected Fortune 500 Oil And Gas Companies’ Reaction In 2009 And 2010

2016 ◽  
Vol 9 (1) ◽  
pp. 23-30
Author(s):  
Violet C. Rogers ◽  
Jack R. Ethridge
Keyword(s):  
Risk Management ◽  
Management System ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Fortune 500 ◽  
Enterprise Risk Management ◽  
Gas Industry ◽  
Risk Management System ◽  
Enterprise Risk ◽  
Oil And Gas Companies

In 2009, four of the top ten Fortune 500 companies were classified within the oil and gas industry.  Organizations of this size typically have an advanced Enterprise Risk Management system in place to mitigate risk and to achieve their corporations’ objectives.  The companies and the article utilize the Enterprise Risk Management Integrated Framework developed by the Committee of Sponsoring Organizations (COSO) as a guide to organize their risk management and reporting.  The authors used the framework to analyze reporting years 2009 and 2010 for Fortune 500 oil and gas companies.  After gathering and examining information from 2009 and 2010 annual reports, 10-K filings, and proxy statements, the article examines how the selected companies are implementing requirements identified in the previously mentioned publications. Each section examines the companies’ Enterprise Risk Management system, risk appetite, and any other notable information regarding risk management.  One observation was the existence or non-existence of a Chief Risk Officer or other Senior Level Manager in charge of risk management. Other observations included identified risks, such as changes in economic, regulatory, and political environments in the different countries where the corporations do business.  Still others identify risks, such as increases in certain costs that exceed natural inflation, volatility and instability of market conditions.  Fortune 500 oil and gas companies included in this analysis are ExxonMobil, Chevron, ConocoPhillips, Baker Hughes, Valero Energy, and Frontier Oil Corporation. An analysis revealed a sophisticated understanding and reporting of many types of risks, including those associated with increasing production capacity.  Specific risks identified by companies included start-up timing, operational outages, weather events, regulatory changes, geo-political and cyber security risks, among others.  Mitigation efforts included portfolio management and financial strength.  There is evidence that companies in later reports (2013) are more comprehensive in their risk management and reports as evidenced by their 10-K and Proxy Statements (Marathon Oil Corporation, 2013).

scholarly journals Enterprise Risk Management In The Oil And Gas Industry: An Analysis Of Selected Fortune 500 Oil And Gas Companies Reaction In 2009 And 2010

2013 ◽  
Vol 6 (6) ◽  
pp. 577-584 ◽  
Author(s):  
Violet C. Rogers ◽  
Jack R. Ethridge
Keyword(s):  
Risk Management ◽  
Management System ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Fortune 500 ◽  
Enterprise Risk Management ◽  
Gas Industry ◽  
Risk Management System ◽  
Enterprise Risk ◽  
Oil And Gas Companies

In 2009, four of the top ten Fortune 500 companies were classified within the oil and gas industry. Organizations of this size typically have an advanced Enterprise Risk Management system in place to mitigate risk and to achieve their corporations objectives. The companies and the article utilize the Enterprise Risk Management Integrated Framework developed by the Committee of Sponsoring Organizations (COSO) as a guide to organize their risk management and reporting. The authors used the framework to analyze reporting years 2009 and 2010 for Fortune 500 oil and gas companies. After gathering and examining information from 2009 and 2010 annual reports, 10-K filings, and proxy statements, the article examines how the selected companies are implementing requirements identified in the previously mentioned publications.Each section examines the companies Enterprise Risk Management system, risk appetite, and any other notable information regarding risk management. One observation was the existence or non-existence of a Chief Risk Officer or other Senior Level Manager in charge of risk management. Other observations included identified risks, such as changes in economic, regulatory, and political environments in the different countries where the corporations do business. Still others identify risks, such as increases in certain costs that exceed natural inflation, volatility and instability of market conditions. Fortune 500 oil and gas companies included in this analysis are ExxonMobil, Chevron, ConocoPhillips, Baker Hughes, Valero Energy, and Frontier Oil Corporation.An analysis revealed a sophisticated understanding and reporting of many types of risks, including those associated with increasing production capacity. Specific risks identified by companies included start-up timing, operational outages, weather events, regulatory changes, geo-political and cyber security risks, among others. Mitigation efforts included portfolio management and financial strength. There is evidence that companies in later reports (2013) are more comprehensive in their risk management and reports as evidenced by their 10-K and Proxy Statements (Marathon Oil Corporation, 2013).

Aboriginal employment—Chevron's journey

2015 ◽  
Vol 55 (2) ◽  
pp. 425
Author(s):  
Camis Smith
Keyword(s):  
Natural Gas ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Long Term Results ◽  
Corporate Leadership ◽  
Gas Industry ◽  
Internal Support ◽  
Employer Of Choice ◽  
Energy Companies

Advancing Aboriginal participation in the workplace comes with its challenges, and those experienced in the oil and gas industry are unique. Barriers to participation need to be regularly evaluated and addressed for success. Although Chevron Australia's focus on Aboriginal employment is fairly recent, it receives strong internal support from senior and corporate leadership. It will be important in the future to further this commitment and build ownership throughout the organisation to achieve long-term results and meet business needs and skills gaps. Camis Smith, Chevron Australia's Aboriginal Employment Strategy Manager, will share Chevron's experiences, lessons and challenges in advancing Aboriginal participation in the workplace, and reinforce its reputation as an employer of choice. Chevron is one of the world's leading integrated energy companies and through its Australian subsidiaries, has been present in Australia for more than 60 years. With the ingenuity and commitment of more than 4,000 people, Chevron Australia leads the development of the Gorgon and Wheatstone natural gas projects, and has been operating Australia's largest onshore oilfield on Barrow Island for more than 45 years.

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.

scholarly journals Calculating the Optimum Angle of Filament-Wound Pipes in Natural Gas Transmission Pipelines Using Approximation Methods

2013 ◽  
Vol 135 (2) ◽  
Author(s):  
Mohammad Reza Khoshravan Azar ◽  
Ali Akbar Emami Satellou ◽  
Mohammad Shishesaz ◽  
Bahram Salavati
Keyword(s):  
Composite Materials ◽  
Natural Gas ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Approximation Methods ◽  
Gas Industry ◽  
Optimal Angle ◽  
Filament Wound ◽  
Composite Pipe ◽  
Natural Gas Transmission

Given the increasing use of composite materials in various industries, oil and gas industry also requires that more attention should be paid to these materials. Furthermore, due to variation in choice of materials, the materials needed for the mechanical strength, resistance in critical situations such as fire, costs and other priorities of the analysis carried out on them and the most optimal for achieving certain goals, are introduced. In this study, we will try to introduce appropriate choice for use in the natural gas transmission composite pipelines. Following a 4-layered filament-wound (FW) composite pipe will consider an offer our analyses under internal pressure. The analyses’ results will be calculated for different combinations of angles 15 deg, 30 deg, 45 deg, 55 deg, 60 deg, 75 deg, and 80 deg. Finally, we will compare the calculated values and the optimal angle will be gained by using the Approximation methods. It is explained that this layering is as the symmetrical.

Risk Management, JSC Achimgaz Project Experience

2017 ◽  
Vol 6 (4) ◽  
pp. 3-9
Author(s):  
Е. Усова ◽  
E. Usova ◽  
Валерий Фунтов ◽  
Valeriy Funtov ◽  
А. Бутов ◽  
...  
Keyword(s):  
Decision Making ◽  
Risk Management ◽  
Natural Gas ◽  
Management System ◽  
Business Processes ◽  
Oil And Gas ◽  
Risk Management System ◽  
Iso 31000 ◽  
Decision Making Processes ◽  
Oil And Gas Sector

The article is devoted to the introduction of risk management system in the activities of JSC Achimgaz, operating in the oil and gas sector and implementing the Project for the extraction of natural gas and condensate (hereinafter the Project). The analysis of implementation, its effectiveness within a system is discussed. According to the analysis the conclusion about the necessity of creating a unified system that integrates risk management into decision-making processes, key business processes and the culture of the organization, according to GOST ISO 31000-2010.

The natural gas industry: equipment, materials, and corrosion

2015 ◽  
Vol 33 (3-4) ◽  
pp. 175-185 ◽  
Author(s):  
Benjamin Valdez ◽  
Michael Schorr ◽  
Jose M. Bastidas
Keyword(s):  
Natural Gas ◽  
Fossil Fuels ◽  
Oil And Gas ◽  
Saline Water ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Municipal Networks ◽  
Production Wells ◽  
Natural Gas Industry ◽  
The Usa

AbstractCorrosion is a crucial worldwide problem that strongly affects the oil and gas industry. Natural gas (NG) is a source of energy used in industrial, residential, commercial, and electric applications. The abundance of NG in many countries augurs a profitable situation for the vast energy industry. NG is considered friendlier to the environment and has lesser greenhouse gas emissions compared with other fossil fuels. In the last years, shale gas is increasingly exploited in the USA and in Europe, using a hydraulic fracturing (fracking) technique for releasing gas from the bedrock by injection of saline water, acidic chemicals, and sand to the wells. Various critical sectors of the NG industry infrastructure suffer from several types of corrosion: steel casings of production wells and their drilling equipment, gas-conveying pipelines including pumps and valves, plants for regasification of liquefied NG, and municipal networks of NG distribution to the consumers. Practical technologies that minimize or prevent corrosion include selection of corrosion-resistant engineering materials, cathodic protection, use of corrosion inhibitors, and application of external and internal paints, coatings, and linings. Typical cases of corrosion management in the NG industry are presented based on the authors’ experience and knowledge.

Sign in / Sign up

Export Citation Format

Share Document