scholarly journals Issues Impacting Sustainability in the Oil and Gas Industry

2015 ◽  
Vol 5 (4) ◽  
pp. 115
Author(s):  
Mohamad Danish Anis ◽  
Tauseef Zia Siddiqui
Keyword(s):  
Sustainable Development ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Economic Feasibility ◽  
Growth Potential ◽  
Rational Approach ◽  
Development Economic ◽  
Bottom Line ◽  
Gas Industry ◽  
Key Issues

<p>This research paper explores the concept of sustainability and the role played by O&amp;G industry in achieving sustainable development. The authors bring a rational approach in defining the key issues for the O&amp;G sector that affect sustainability as well as try to devise the inherent risks as well as mitigation approaches adopted by these companies. Sustainability is a topic gaining fast repute today. As new conventional oil and gas sources decline, unconventional sources, including shale gas in the US, oil sands in Canada, coal seam gas in Australia, and deep-water offshore wells in Brazil, West Africa and Asia have been identified as key areas with significant reserves potential. Despite the growth potential, sustainability risks such as climate change, safety risks, and community disagreements exert pressure on the economic feasibility of these opportunities.</p><p>The three components of sustainable development: economic, environmental and social, often referred to as the ‘Triple Bottom Line’ or TBL, can be used in evaluating a company’s performance in financial, environmental and social dimensions. These three dimensions of sustainable development, as explained by John Elkington and adopted by Shell’s first sustainability report in 1997, are also commonly referred to as the 3Ps: People, Planet and Profit.</p><p>The paper also focuses on analyzing the various threats that could obstruct sustainable development being carried out by companies in the oil and gas industry. The importance of sustainable economic growth with regards to the oil and gas industry has also been highlighted. The 3Ps explained above can be used to categorize the key issues/risks that impact sustainability. The researchers concluded that the sustainability programs followed by oil and gas industry are not satisfactory; however there is strong evidence of improvement in near future. Towards the end, the researchers have tried to list the Strategies and Methodologies for enhancing the effectiveness of sustainability strategies and programs for the sector.</p>

Nimrod XV230—reflections on leadership, culture and priorities

2017 ◽  
Vol 57 (2) ◽  
pp. 374
Author(s):  
Martin Anderson
Keyword(s):  
Oil And Gas ◽  
Health And Safety ◽  
Oil And Gas Industry ◽  
Royal Air Force ◽  
Gas Industry ◽  
Leadership Culture ◽  
Key Issues ◽  
The Uk ◽  
Organisational Factors ◽  
Independent Inquiry

On 2 September 2006 a reconnaissance aircraft Royal Air Force Nimrod XV230 suffered a catastrophic mid-air fire on a mission over Afghanistan, leading to the total loss of the aircraft and the death of all 14 service personnel. This paper summarises key issues from an independent inquiry and challenges the oil and gas industry to reflect on these. The author, a Chartered specialist in human and organisational factors, contributed to The Nimrod Review as a Specialist Inspector with the UK Health and Safety Executive.

scholarly journals Pengaruh Kreativitas, Proaktif dan Otonomi Terhadap Kinerja Usaha Makanan Dan Minuman

2020 ◽  
Vol 2 (4) ◽  
pp. 889
Author(s):  
Cindi Cemosa ◽  
Lydiawati Soelaiman
Keyword(s):  
Business Performance ◽  
Oil And Gas ◽  
Sampling Technique ◽  
Oil And Gas Industry ◽  
Business Owners ◽  
Growth Potential ◽  
Gas Industry ◽  
Beverage Industry ◽  
Food And Beverage Industry ◽  
Food And Beverage

Food and beverage industry sector have considerable economic growth potential as seen from its contribution to the gross domestic product (GDP) growth of the non-oil and gas industry and increased investment. This study aims to determine whether creativity, proactive, and autonomy have an influence to the performance of food and beverage businesses in West Jakarta. The sampling technique used was judgmental sampling distributed to 41 food and beverage business owners in West Jakarta. The results of this study indicate that there is an influence of creativity, proactive, and autonomy to business performance. Sektor industri makanan dan minuman memiliki potensi pertumbuhan ekonomi cukup besar terlihat dari kontribusinya terhadap pertumbuhan produk domestik bruto (PDB) industri non-migas serta peningkatan realisasi investasi. Penelitian ini bertujuan untuk mengetahui apakah kreativitas, proaktif, dan otonomi memiliki hubungan dengan kinerja usaha makanan dan minuman di Jakarta Barat. Teknik pengambilan sample yang digunakan adalah judgemental sampling yang disebarkan ke 41 orang pemilik usaha makanan dan minuman di Jakarta Barat. Hasil dari penelitian ini menunjukkan bahwa adanya pengaruh kreativitas, proaktif, dan otonomi terhadap kinerja usaha.

scholarly journals KEY ISSUES OF ACCOUNTING FIXED ASSETS MANAGEMENT OF OIL AND GAS ENTERPRISES: ANALYSIS OF FEATURES, COMPOSITION AND VALUATION

2019 ◽  
pp. 76-87
Author(s):  
Sofia KAFKA
Keyword(s):  
Natural Gas ◽  
Crude Oil ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Fair Value ◽  
Economic Benefits ◽  
Gas Industry ◽  
Gas Drilling ◽  
Fixed Assets ◽  
Key Issues

The article deals with the key issues concerning the system of security of fixed assets at the enterprises of the oil and gas industry. The purpose of the article is to investigate the fixed assets features and composition at the the enterprises of oil and gas industry, to determine the approaches to their assessment at the stage of their receipt by the enterprise. The state, dynamics of value and the degree of depreciation of fixed assets in Ukraine for the year 2017 have been analyzed, their features have been distinguished at the enterprises of different branches of the economy. To ensure the effective operation of the enterprises of the oil and gas industry, significant assets are required, and the results of their activities to a large extent depend on the availability and condition of fixed assets that ensure economic sustainability of economic entities. Oil and gas companies include pipelines and related equipment in fixed assets, oil and gas assets, machinery and equipment, buildings, buffer gas, drilling and reconnaissance equipment and other fixed assets. Among the assets of NJSC "NAFTOGAZ OF UKRAINE" for the year 2017, non-current assets occupied 86% of the total assets of the company, of which 94% were fixed assets, what determines the reliability of their accounting as an important element of effective management of enterprises. The dynamics of value and composition of fixed assets of enterprises of the oil and gas industry of Ukraine for 2016-2017 have been determined according to separate economic segments. The cost of fixed assets of NJSC "NAFTOGAZ OF UKRAINE" as of December 31, 2017 amounted to UAH 491 482 million, respectively, according to economic segments, it is structured in such a way that their largest share is concentrated in the system of transportation and distribution of natural gas - almost 48%, for storage of natural gas - 34%, production and sale of natural gas - 12%, and the rest belongs to the economic activities related to oil: the production of crude oil and gas condensate, transportation of crude oil. The composition of fixed assets of extractive enterprises differs from their composition in refineries. Industrial features of mining industry with significant volumes of work related to the disclosure of layers of minerals are characteristic to chemical production with a significant cost of equipment. The main approaches to the evaluation of fixed assets objects at the stage of their entrance to the enterprise have been investigated. The reliability of the accounting information on fixed assets depends on their assessment. When they are received, they are valued at their original cost, that is, by the amount of cash paid or their equivalents or fair value, another form of indemnity granted to obtain the asset at the time of its acquisition or creation, or, if accepted, the amount that is distributed to that asset in the original recognized in accordance with the specific requirements of other IFRSs. After recognition, the entity should choose either a cost model or a revaluation model in its accounting policies and should apply this policy to the entire group of fixed assets. A cessation of recognition occurs after the release of an object or when it does not expect future economic benefits from its use or disposal. In this case, it is recognized as profit or loss.

Using a Risk-Based Approach in Preparation of Corporate Sustainability Reporting by Oil and Gas Companies

Auditor ◽  
2021 ◽  
pp. 46-53
Author(s):  
Thi Lok Doan
Keyword(s):  
Sustainable Development ◽  
Oil And Gas ◽  
Corporate Sustainability ◽  
Sustainability Reporting ◽  
Oil And Gas Industry ◽  
Public Companies ◽  
Gas Industry ◽  
Corporate Reporting ◽  
Oil And Gas Companies

The article presents the author’s approach to the formation of corporate reporting of public companies using the example of the oil and gas industry. The key risks of sustainable development are disclosed that correspond to the interests of various significant groups of the company’s stakeholders. The approbation results of a typical corporate reporting model for oil and gas companies in the Petrolimex report (Vietnam) are presented.

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