Diagnostics of value-based management of oil and gas industry enterprises of various forms of ownership

Abstract

Introduction. More than 5 % of Ukraine’s GDP is formed due to the direct contribution of oil and gas production enterprises. The use of value-based management tools, as a rule, provides a 5−15 % increase in economic added value compared to the practice of using traditional approaches to management. The value-based approach allows oil and gas companies not only to optimize internal processes, but also to create additional values that become critically important in periods of instability. The article considers the methodological approaches to diagnosing the value-based management of oil and gas enterprises. The applied aspects of evaluating the effectiveness of value-based management are studied, and the key factors that affect the stability of oil and gas enterprises are identified. As a result of the analysis, practical recommendations for improving management processes in oil and gas enterprises are proposed in order to increase their resilience to modern challenges. It has been established that the stability of revenue generation from the sale of products is key to ensuring reliable financial flows and the development of the oil and gas industry. The results of the study may be useful for effective owners, executives and managers of enterprises seeking to implement modern management practices based on the value-based approach. The purpose of the article is a thorough analysis of a set of methodological approaches used in value-based management at oil and gas production enterprises for their evaluation and improvement. Achieving the goal involves solving the following specific tasks: research of existing methodological approaches to value-based management; analysis of methodological developments that have found practical application in the field of value-based management in the oil and gas industry; identification of problematic aspects and formulation of recommendations regarding the application of methodological tools for value-based management at oil and gas production enterprises. Methodology. The applied aspects of evaluating the effectiveness of value-based management are studied, and the key factors affecting the stability of oil and gas enterprises are identified. The results of the functioning of oil and gas enterprises of the public and private sectors are analyzed in order to identify positive and negative trends in their development. On the basis of this analysis, practical recommendations are developed to improve management processes in the oil and gas industry. The results. The results of the study indicate the need to improve management practices at oil and gas enterprises in order to ensure their sustainability and efficiency in the current environment. The analysis of the factors influencing the efficiency of management shows the importance of stable generation of income from the sale of products as a key factor in ensuring the financial stability of enterprises. A comparative analysis of the activities of public and private oil and gas enterprises indicates positive trends in the development of the private sector, but also the need for further improvement of management processes in the public sector. Recommendations for improving management practices can help to increase the competitiveness of oil and gas enterprises and ensure the sustainability of their development in the future.