Gas Business Research Articles

An Analytical Study of Liquidity and Profitability: Analysis of Selected Oil and Gas Companies in India

Two of the most significant KPIs, liquidity and profitability, are used to gauge a company's success. In order to examine the financial health and profitability of selected Indian oil and gas businesses, this study was performed. From 2016-17 through 2020-21, the top five listed firms by market capitalization are Reliance Industries Ltd., Oil and Natural Gas Corporation (ONGC), Indian Oil Corporation (IOCL), Bharat Petroleum (BPCL), and Gas Authority of India Ltd. (GAIL). Four ratios have been used to evaluate the financial and profitability positions of chosen organizations, including the current ratio, the quick ratio, the net profit ratio, and the return on invested capital. An ANOVA with a 5% threshold of significance was employed to test the hypotheses. The study's main conclusion is that Reliance industries Ltd's liquidity and profitability performance is superior to those of other chosen oil and gas firms.

An Analytical Study of Liquidity and Profitability: Analysis of Selected Oil and Gas Companies in India

Two of the most significant KPIs, liquidity and profitability, are used to gauge a company's success. In order to examine the financial health and profitability of selected Indian oil and gas businesses, this study was performed. From 2016-17 through 2020-21, the top five listed firms by market capitalization are Reliance Industries Ltd., Oil and Natural Gas Corporation (ONGC), Indian Oil Corporation (IOCL), Bharat Petroleum (BPCL), and Gas Authority of India Ltd. (GAIL). Four ratios have been used to evaluate the financial and profitability positions of chosen organizations, including the current ratio, the quick ratio, the net profit ratio, and the return on invested capital. An ANOVA with a 5% threshold of significance was employed to test the hypotheses. The study's main conclusion is that Reliance industries Ltd's liquidity and profitability performance is superior to those of other chosen oil and gas firms.

A low-carbon future for The North Sea Basin

Abstract Human emissions of greenhouse gases have caused a predictable rise of 1.2 °C in global temperatures. Over the last 70 years, the rise has occurred at a geologically unprecedented speed and scale. To avoid a worsening situation, most developed nations are turning to renewable sources of power to meet their climate commitments, including the UK, Norway, Denmark and The Netherlands. The North Sea basin offers many advantages in the transition from fossil fuels by virtue of its natural resources, physical setting, offshore infrastructure and skilled workforce. Nonetheless, the magnitude of the up-front costs and the scale required to achieve net zero emissions are rarely acknowledged. In addition, some of the technologies being planned are commercially immature. In particular, the current cost of the capture, transport and disposal of carbon dioxide is problematic as a large-scale solution to industrial emissions. Repurposing the North Sea to meet a low-carbon future will require substantial collaboration between governments and industrial sectors. There are nonetheless significant opportunities for companies prepared to switch from the traditional oil and gas business to renewable energy production and other sustainable activities.

The Legal Framework of The Oil and Gas Industry In Iraq

The oil and gas industry is the backbone of the Iraqi economy and the primary source of government revenue. The Federal Government controls Iraq's oil and gas industry through the Ministry of Oil, responsible for policy formulation, regulation, exploration, production, marketing, and information disclosure. Except for a few refining enterprises, most national companies engaged in the oil and gas sector are wholly (100%) owned and overseen by the Ministry of Oil. In this research, national oil corporations are generally referred to as state-owned oil businesses. This article discusses the legal framework governing Iraq's oil and gas business, including the industry's constitutional provisions, investment rules, and the Draft Oil and Gas Law. Additionally, it briefly discusses the standard oil contract, which details the contractual relationships between state-owned and multinational oil corporations. Finally, the research examines the legal position of the Iraqi National Oil Company, which is tasked with the responsibility of succeeding nine state-owned oil businesses.

Устойчивое развитие ПАО «Газпром»: практика применения ESG-модели в производстве и экспорте сжиженного газа

Subject/Topic. The paper is devoted to analysis of ESG-model application in production and export of liquefied gas with due account of current opportunities and threats of the EU and USA green transition policy and implementation of transboundary carbon charge. Methodology. General scientific cognitive methods (analysis, synthesis, deduction, comparison, scientific abstraction, logical reasoning and fact-finding) were applied to prepare the theoretical and methodological part of the scientific publication. Specific scientific cognitive methods (static analysis, expert estimates, graphical method) were used to prepare the analytical and expert sections of the publication, to form scenarios for the development of the ESG model of Gazprom's gas business, taking into account the current challenges and threats of the EU and US green policy, the «4 Worlds» Foresight method was used. Results. The scientific study of the ESG model application by «Gazprom's» gas business showed a deep understanding of the green transition processes within the LNG production and sales business processes, which is confirmed by both substantial investments in environmental protection measures and regular business expenses on compensation of gas production and transportation impact on the environment. A comparative analysis of ESG models applied by the gas business of the key oil and gas holdings has revealed the undisputed leadership of PJSC «Gazprom» and its commitment to creating the infrastructure and market landscape for the formation of an «environmentally friendly oil and gas business». According to external stakeholders (political elite of EU and USA, foreign financial and consulting institutions) among the weaknesses of the ESG model of gas business is its use of the «environmental credit» factor (PJSC «Gasprom» buys unused quotas on carbon emissions from the state in order to improve its own rating of environmentally friendly business); presence of undisguised manipulation with environmental value of pipeline gas deliveries to the EU (creating threat of market monopolization); presence of PJSC «Gazprom» holding's own bank (being the source of potential credit risks in the part of financing «toxic projects»); use of state corporation status by the holding to lobby its commercial interests in the EU and the US. Conclusions/Significance. At the end of the research the four main scenarios of ESG-model development were plotted and the expert judgement on their influence on the further lifecycle of the green policy is given: under the extreme scenario (red world) the company is likely to exit the EU and US markets in favour of the Asian states; under the more positive scenarios a gradual decarbonization of business processes of production, manufacturing and sales of LNG, taking into account international environmental standards, will correspond to the national goals and interests of Russia, and not «blindly» following the interests of Western environmental policy. Application. Results of the scientific research can be used to develop academic competence of students on strategic management and sustainable development in the gas business, and for practitioners to generate and improve ESG-models taking into account the latest requirements of the green policy of EU and USA, and the use of green finance tools for implementation of projects on business processes decarbonization.

INTEGRATION PROCESSES IN THE INTERNATIONAL OIL AND GAS BUSINESS: FORMS, TRENDS, SYNERGIES

It is difficult to imagine modern international oil and gas business without constantly transforming integration processes. Their necessity is dictated both by domestic national economic conditions in the hydrocarbon producing countries, and international conditions of the world oil and gas business market, as it becomes more and more difficult to be successful and to withstand the fierce competition in this sphere. Integration processes in international oil and gas business may take a variety of forms from the emergence of long-term and rigid market structures to temporarily create joint structures, depending on the current market conditions and situational goals and objectives. The article argues that the existing literature theoretical distinction between horizontal and vertical forms of integration in real practice is often conditional. In real practice, these forms are rarely implemented according to an outlined and purely classical scenario, more often the integration processes are carried out on a parallel and simultaneous scheme, "overlapping" with each other, that is, on a combined basis, as evidenced by specific examples from global and domestic practice cited in the article. The article also shows that combined schemes of international integration are used in the so-called M&A (mergers and acquisitions) deals, mergers and acquisitions of oil and gas companies. The analysis shows their complex combination and practical implementation in international oil and gas business markets. The analysis showed that the number of small and medium-sized companies in M&A deals is falling. However, the total capitalized value of transactions remains approximately at the same level. This stable financial balance in transactions indicates intensive cooperation of large companies with each other. In this regard, such form of integration as creation of international oil and gas joint ventures acquires special importance. The article shows economic and technological advantages of this cooperation, as well as the solution of the largest problems and achievement of significant practical results in the sphere of oil and gas business. At the same time, in the practice of studying the functioning of joint ventures, it is difficult to define and indicate their feasibility and effectiveness in specific economic conditions. If for large companies it is usually not in doubt, in the case of smaller companies the effectiveness is not so obvious. The authors propose to solve this practical problem through a specific calculation mechanism to determine the synergistic effect and emergence. The authors give a variant of such calculation in this article

The green game: how digital technology is changing Russia's oil and gas business

It is difficult to overestimate the importance of the gas production business for the Russian economy, and therefore ensuring sustainable and innovative development of this sector of the economy is not just important, but a strategic vector of national economic security of the country: in case of a negative technological gap the impact of sanctions in terms of high-tech imports and overall dependence of the Russian economy on the "political mood" of global technological leaders in Western Europe and the United States is exacerbated. In addition, it should be noted the growing tightening of international environmental standards of oil and gas production, which determines the importance of digitalization of the oil and gas sector in Russia for its compliance with the green strategies of the world. The article is devoted to the study of practices of green investment and digitalization of the oil and gas sector in Russia, as well as the problems and prospects of its digital transformation, taking into account the best domestic and international practices of doing business in Industry 4.0. Separately, the article considers scenarios for the implementation of green investments in the oil and gas business in Russia using the "4 worlds" foresight method.

Investigation on hole parameters of carbon fibre reinforced plastic composite boring by dry and cryogenic environment

Under dry and cryogenic conditions, the drilling performance of carbon fibre reinforced plastic (CFRP) composites were evaluated. The thrust force, hole quality (cylindricity-CYL, circularity-CIR, and average surface roughness-Ra), and the reverse deformation coefficient are all examined in order to implement a green machining technology in the industry. For cryogenic machining of carbon fiber reinforced plastic materials, the evaluation of hole quality as it pertains to industry criteria has not been examined and discussed. The coordinate measurement machine uses a spherical probe to select locations on the desired plane(s) in terms to calculate CYL and CIR discrepancies. For measurements, a 1 mm pitch is used between two nearby spots. Surface roughness testers are used to determine arithmetic average Ra values, while vision measurement machines are used to determine inverse delamination factors. When related to dry drilling, cryogenic drilling significantly reduces the Ra values of holes through 14 to 38 percent and increases the entrance reverse deformation coefficient by 5 to 68 percent. According to these findings, cryogenic drilling is a viable option for the oil and gas business.

Перспективы развития российского нефтесервиса в условиях перехода к «зеленой энергетике»

The article discusses the basic concepts and principles of clean (green) energy and the reasons for the transition of the global industrial industry to renewable energy sources. Decarbonization trend in the world economy is said to complicate the prospects of the Russian oilfield services, and the task is to determine the possibilities for its sustainable development. To achieve this goal, the current level and the prospects of green energy were analyzed, the problems associated with the transition to renewable energy sources were examined, various ways of the oil and gas business development have been identified. It is established that the current renewable energy sources contribution to the global energy balance is 5 %. However, the policy of economic stimulation for industry decarbonization, which is observed by the industrially developed countries, ensures doubling of the established renewable capacity every four years. The key problems arising from the transition to the renewable energy are revealed, with the main being storage, non-stop energy supply, and the high price of generation products. The paper focuses on the Russian energy industry features which are characterized with the extensive supply of the traditional cheap natural sources, including gas, oil, coal, hydro resources, nuclear power. The transition time to renewable energy is found to be at least 50 years when hydrocarbons remain to be the main source of energy generation. The prospects of sustainable development of the Russian oilfield services are as follows: integration of high technology and new innovation methods of searching, exploration, development, and exploitation of the hydro carbonated deposits; substitution of imported technologies and equipment with the domestic ones; government support of the industry and diversification towards decarbonization energy.

Development of Shale Gas in Brazil: A Business-Oriented Analysis

Brazil figures amongst the top 10 countries with greatest technically recoverable shale gas resources around the globe. However, shale gas business has not yet taken off. This paper aims to provide a business-oriented analysis on the drivers and opportunities for developing shale gas in the country. Methodology consists of going through critical non-technical factors (above the surface issues) of each one of the Brazilian basins with technically recoverable shale gas resources. Results show that from a business perspective the potential development of unconventionals in Brazil over the next decade or so will most likely be linked with the production declining faced in some conventional gas fields, and hence, a mechanism to extend asset life cycle and sustain existing jobs. Keywords: Brazil; Oil and gas exploration; Unconventional resources; Unconventional gas; Shale gas; Brazilian sedimentary basins; Market development. DOI: 10.7176/RHSS/12-2-04 Publication date: January 31 st 2022

Standardization of Technical Specifications and Budget of Charter Rate in Indonesian Oil & Gas Upstream Operation Support Vessel

Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) is an institution tasked with managing upstream oil and gas business activities based on Production Sharing Contract (PSC). In carrying out technical evaluations and budget recommendations, there are often differences in specifications and budgets between PSC Contractors. In order to reduce the problems mentioned above, it is necessary to standardize technical specifications and charter rates for operations support vessels which will later be used as the basis for evaluating technical specifications and recommendations for charter budgets, for preparing owner estimates as the basis for negotiations in the ship procurement process. The problem-solving methodology adopted in this research is to collect data on operations support vessels in PSC Contractors and then evaluate the data with Multi Criteria Decision Making (MCDM) through the Elimination Et Choix Traduisant la Realite (ELECTRE) method, then the results will be analysed qualitative data, to further develop a standard technical specification and recommendation for vessels charter rates for each type of vessel.

Improving the efficiency of organizational design in the oil and gas business

The article discusses a number of topical issues of modern organizational design. Through the analysis of the approaches of Russian and foreign scientists, the factors that need to be taken into account in organizational design are identified. Out of a multitude of factors, we have selected those that have the greatest impact in various options for the market and technological environment for an oil and gas company. Organizational schemes which can be recommended for organizing management in different market conditions are shown. A method to reconcile the influence of the basic and other factors in the organizational design process is proposed. A mechanism for constructing an organizational structure in modern conditions in oil and gas companies is proposed. In the conclusion, recommendations on the directions for further research on the problems of building organizational structures are given. Keywords: organizational structure; building organizational structures; competitiveness factors; organizational design.

The Historical Role of Work Social Support and Corporate Social responsibility (CSR) and Innovation Capabilities

There has been very little research done on the topic of eco-friendly HRM practices in the oil and gas business, despite its theoretical importance. By looking at the causes and consequences of green human resource management in Pakistani oil and gas companies, we try to address this knowledge gap. The PLS approach was used to evaluate the data received from 121 managers. It was found that top-level management support and environmental orientation are prerequisites to implementing green human resource management. Second, we discovered that implementing green human resource management increased employee satisfaction with job, organizational commitment, and environmental performance. Because it provides new insights into green human resource management as well as a roadmap for accomplishing sustainable development goals, this study is important both theoretically and practically.

Computational insight into the quantum chemistry, interaction and adsorption energy of aminopolycarboxylic acid chelating agents towards metal cations

In the oil and gas business, aminopolycarboxylic acid chelating compounds are commonly employed to treat and regulate unwanted metal cations. The relationship between molecular orbital and chelating capabilities of commercially available aminopolycarboxylic acids toward metal cations (Ca2+, Ba2+, Mg2+, Sr2+, Fe2+, and Fe3+) is examined in depth in this work. A computational method based on Density Functional Theory (DFT) and Monte Carlo approaches were used. According to DFT quantum chemistry calculations, DTPA has a better electron transfer for improved adsorption properties. In addition, EDTA has the lowest energy required to liberate an electron and become negatively charged, as well as lower electronegativity and global hardness, indicating improved reactivity. According to Monte Carlo calculations, adsorption energy is rated as follows: DTPA > EDTA > CDTA > GLDA > HEDTA > MGDA > HEIDA. All aminopolycarboxylic acid adsorption energies obtained are comparable to stability constant data and other experimental findings.

Evaluation of Oil and Gas Economy using Economics Profit Indicators and Prototype Macro VBA Excel

The oil and gas sector is an important factor in sustainable development, so it is considered necessary to make serious changes in conducting economic analysis on the oil and gas business. Oil and gas industry activities consist of upstream activities, and downstream activities. Activities in these upstream and downstream operations have high risk, high costs and high technology, so the company continuously tries to reduce the importance of the adverse impact of these risks on the work environment and people. Thus, evaluating the factors that affect sustainable production in this sector becomes a necessity. In this research will be evaluated the economy of the oil and gas field using methods of economic indicators, among others; NPV, POT, ROR, where these factors are estimated in order to be able to estimate the prospects of the oil and gas field so that the decision that the field development project can be implemented or cannot be taken immediately. Implementation of oil and gas field economic evaluation in this study using Macro VBA Excel. From several methods of economic analysis obtained that the results of this study show high precision compared to other methods, in addition to the way of evaluation using the above economic indicators is very popular.

Enterprise Financial Characteristics and Corporate Social Responsibility Costs of Oil and Gas Businesses in Nigeria

Abstract This work evaluated the effect of entity characteristics on company social responsibility costs of oil and gas firms in Nigeria for 2010 - 2019. The independent variables of the study and measures of firm characteristics are total assets, total sales, financial leverage and firm age while the independent variable is corporate social responsibility. A sample of three firms was selected out of a population of eleven oil and gas businesses on the Nigeria Stock Exchange during the period. Supporting data were obtained from the selected firms and analyzed using multiple regression analysis. Findings from the analysis suggest that both total assets and total sales positively and significantly affect the corporate social responsibility costs of the firms. It was also found that financial leverage positively and insignificantly affects the corporate social responsibility costs of the firms. Finding further reveals that firm age negatively and insignificantly affects corporate social responsibility costs of the firms. In the light of the findings, it was recommended that the firm managers should invest in assets especially long-term assets that will yield future streams of returns for their firms. This is because investment in assets improves production and promotes the corporate social responsibility performance of the firms. It was also recommended that the firm managers should promote their products through various product promotion channels as total sales boast firm profitability and promote corporate social responsibility performance. It was further recommended that the firm managers should increase the proportion of debts in their firms’ capital structure. It was finally recommended that firm managers should use a modern approach while implementing their corporate social responsibility programs as opposed to the old style.

Movers and Shakers: Stock Market Response to Induced Seismicity in Oil and Gas Business

Investors increasingly need to account for concerns about non-financial performance and to consider the environmental impact of fossil fuel investment. We analyze how financial investors appreciate induced seismicity in oil and gas fields in the US and the Netherlands. We employ an event study to investigate the stock market reaction of investors in two fossil fuel majors, ExxonMobil and Royal Dutch Shell. We establish that stock market participants’ response is positively but weakly related to induced seismicity with ExxonMobil. This suggests that markets might interpret this seismicity as a signal of future productivity. With Royal Dutch Shell, there is no significant association, suggesting that their investors do not specifically appreciate its externalities. We conclude that the externality of induced seismicity goes unpriced.

Development Situation and Countermeasures of the Oil and Gas Industry Facing the Challenge of Carbon Neutrality

To fight against climate change, many countries have clearly put forward the schedule for peak carbon emission and carbon neutrality. Low-carbon economic development has turned into an irreversible trend, and low carbon has become the target of energy structure transformation. Accordingly, it is projected that the proportion of demand for fossil energy will drop sharply, which will create severe challenges for the development of the oil and gas industry. For these reasons, analyses were made on the low-carbon transformation characteristics of economy and energy under the background of carbon neutrality and the influence of carbon neutrality on the development of the oil and gas industry. Then, the main countermeasures taken by oil companies and oil service companies for carbon neutrality were introduced, including formulating green and low-carbon development strategies, accelerating the development of low-carbon energy businesses, boosting the research and applications of low-carbon technologies, increasing investment in the field of new energy, accelerating the low-carbon development in petroleum engineering, and planning the low-carbon energy service business. Finally, suggestions were put forward for the development of the oil and gas industry in China, such as quality upgrading, orderly low-carbon transformation of energy structure, acceleration of innovating low-carbon technologies, and the promotion of transformation and development in the oil and gas industry. This study provides guidance for China’s oil and gas enterprises to promote a coordinated development between new energy and the oil and gas business, and to facilitate green and low-carbon transformation and development while ensuring a safe oil and gas supply.

Penegakan Hukum terhadap Pelaku Tindak Pidana Pertambangan Minyak Tanpa Izin (Illegal Drilling) di Wilayah Hukum Kabupaten Batanghari

Oil and gas are natural resources that are held and controlled by the State which must be optimized to the maximum extent possible because they have a very important role in the national economy, the estuary of which is the creation of social welfare for all Indonesian people. In order to achieve this welfare, Law Number 22 of 2001 concerning Oil and Gas is enacted, which provides a legal basis for development and legal reform in oil and gas business activities.The purpose of this study is to find out law enforcement against the crime of oil mining without a permit in the jurisdiction of Batanghari Regency, the obstacles faced and the efforts made to overcome the obstacles encountered. This research is a descriptive analytical research with an empirical juridical approach. Determination of the sample was carried out using purposive sampling technique and data collection was carried out through interviews and qualitative data analysis was carried out. Law enforcement is carried out by carrying out repressive actions, taking action and detention. Constraints faced are low awareness, participation and information from the community and another obstacle is information leakage. Efforts are being made to increase awareness and participation and maximize the role of the community.

Determining Business Strategy of Inspection Companies in Oil and Gas Upstream Business Activities

Inspection companies supporting upstream oil and gas business activities with multi-owned businesses are demanded to compete and survive in increasingly fierce market competition. Differences in the characteristics and scope of each business unit makes the company encouraged to be more observant in seeing the position rate of development of each business unit. A strategy is needed to ensure the treatment of each of these business units in order to achieve company goals. Identification, clustering and analysis of influencing factors affecting the company business performance are carried out through the stages of collecting secondary and primary data to obtain a follow-up plan for each business unit of the company. We use the real case in one of Indonesian Inspection Company. The method used in this paper is the analysis of strategy formulation in determining business strategies by three stages. First stage IFE (Internal Factors Evaluation) matrix and EFE (External Factor Evaluation) matrix are prepared then follow by IE (Internal External Matrix). Second stage, by assesment the following matrixes, we matched up with SWOT (Strength, Weakness, Opportunity, and Threat) matrix. Finally the final stage is taken by using QSPM (Quantitative Strategic Planning Matrix) to determine reliable strategy for inspection company in the upstream oil and gas business activities.