Gas Companies Research Articles

The Impact of CSR (Corporate Social Responsibility) on Customer Satisfaction and Loyalty Through the Perceived Value of Customers in Oil and Gas Companies

Corporate social responsibility (CSR) refers to the degree to which firms accept direct economic, legal, ethical, social, and policy obligations towards their stakeholders, which in turn may influence customer responses. The aims this study to know The Impact of CSR (Corporate Social Responsibility) on Customer Satisfaction and Loyalty Through the Perceived Value of Customers in Oil and Gas Companies. This study employs survey research methodology, employing both explanatory and hypothesis-testing approaches through the utilization of descriptive and exploratory methodologies.The tesult The Corporate Social Responsibility (X) variable has a significant effect on the level of Customer Perceived Value (Z).

Volatility spillovers across Russian oil and gas sector. Evidence of the impact of global markets and extraordinary events

This paper provides empirical evidence on the evolution of the impact of external shocks on the volatility connectedness of Russian oil and gas companies’ stock prices. We examine how the spillover structure has changed following the outbreak of COVID-19, as well as under the impact of the 2022–2023 events.We have extended the Diebold–Yilmaz approach to calculate conditional connectivity measures adjusted for the influence of global factors and unexpected shocks caused by extraordinary events.We use an augmented vector autoregressive model (VARX) to evaluate the adjusted conditional connectivity measures. The dynamics of connectivity indices are analyzed using the moving window method for VAR and VARX models, as well as using a dynamic model with time-varying coefficients (TVP-VAR). The comparison of adjusted and unadjusted connectivity measures allows us to draw conclusions about the impact of changes in foreign financial markets as well as shocks caused by extraordinary events on connectedness structure.We found that measures of conditional connectivity change much more slowly than unconditional ones. Our results support the hypothesis that essential part of the fluctuation of Russian oil and gas connectedness indices can be explained by exposure to unexpected shocks and global economic and political factors. Accordingly, the transformation of the network structure of risk transfer occurs quite smoothly, without sharp jumps and takes a considerable amount of time.

Evaluation of the Usefulness of the CSR Program of Oil and Gas Companies in East Kalimantan on the Implementation of Accuracy, Suitability, and Usefulness

The motivation to carry out activities after receiving assistance from the CSR program used as a measure in this research is to see the extent to which students' attitudes towards work behavior are based on Islamic values. The use of measuring instruments in several cultures requires an implementation process to obtain valid and reliable measuring instruments. This implementation process uses ITC references. This research aims to implement the Indonesian Santri version of an entrepreneurial intention measurement tool. Content validity uses the Content Validity Index (CVI) method, while construct validity uses the Confirmatory Factor Analysis method using Amos 23. The scale validation subjects involved 308 respondents. The results of the research show that 16 items measure motivation to carry out activities after receiving assistance from the students' CSR program. The modification results show that the model fits with 16 statements containing the Motivation factor for carrying out activities after receiving CSR program assistance, which is indicated by the Chi-Square values which are not significant, GFI (0.99), CFI (0.915), TLI (0.90) and RMSEA (0.01), This proves that the Motivation scale for carrying out activities after receiving CSR program assistance is suitable and meets the assumption of unidimensionality, and has a positive relationship with entrepreneurial motivation

Perspectives of organizational culture in the Brazilian oil, gas and biofuels companies

Purpose The purpose of this study is to analyze the aspects of the organizational culture (OC) of companies operating in the Brazilian oil, gas and biofuels (O&G) sector based on semistructured interviews with managers of these organizations and its content analysis. Design/methodology/approach This research was conducted based on semistructured interviews with 12 managers of Brazilian O&G companies and analyzed with a computer-assisted qualitative data analysis software, namely, MAXQDA™. Findings The results make it possible to obtain the perception of managers about OC, generally understood as a set of attributes and variables of social order, supported by the historical–culturalist theoretical approach. Information about the explicit and implicit manifestation of culture, as well as the evaluation of the most appropriate research instruments and metrics, were also obtained after the interviews. Originality/value This study presents detailed results about OC and its characteristics in the perception of managers of the O&G companies that operate in the Brazilian market.

Safety Maturity Level Assessment for Effective HSE Plan Development at Logistic Service Company in Ancol

Introduction: PT. XYZ is a logistics service company located at the Tanjung Priok port that carries out loading and unloading activities to support the operations of oil and gas companies. The achievement of leading indicators has been good. However, accidents still happen even though they are not as fatality accidents. This study aims to assess the maturity level of the Safety Culture at PT. XYZ and designing the right OHS program so that it is expected that the OSH program can reduce the number of lost time injuries in the company. Methods: This research is a qualitative descriptive study with a cross-sectional study design, and primary data was taken through interviews, field observations, and secondary data through company records. The author uses an interview guide from Industrial Safety Culture Evaluation Tools and Guidance for primary, key, and supporting informants. The main informants comprised five management representatives from supervisor to assistant manager level and five employee representatives. Results: PT. XYZ is a calculative level in safety culture, although the commitment dimension is in a proactive stage. However, information, awareness, and behavior are still at a calculative level. Conclusion: The company must improve communication methods, including effective communication, and provide consultation and training media for OHS issues.

Environmental Management Accounting and Stakeholders Perspective: A Theoretical Perspective

This paper focus on the theoretical perspective of environmental management accounting theory and practices and derive into how this principle can impact on the financial performance of companies particularly in an emerging economy. This study will critically examine the various principles on environmental management accounting and how focus on the Nigerian Oil and Gas Companies in Nigeria because these companies are the major causes of environmental pollution and degradation in the Nigeria’s Niger Delta Region. This paper examined existing literature on the environmental management accounting theory discussions, identified the critical features of the theory that are relevant to this paper and robustly discuss the benefits and advantages of adopting environmental management accounting principles in the accounting processes of the strategic assets, oil and gas in Nigeria. This study spanned the years 1999 through 2023 where these important tools can be vital to the understanding of the various economic cycle and significant instruments for effective decisions regarding investment, monetary and fiscal policy. The periods experienced critical economic shocks such as credit boom, a financial recession, a rebound, and strong economic expansion. Furthermore, the period covered the increase demand by stakeholders of the environmental management accountability of the Oil and Gas Companies. In this study piece, a systematic literature review (SLR) was performed, and the research revealed crucial environmental management accounting theory analysis to enable this paper identify suitable articles and journals. A SLR was performed using a sample of 100 research articles chosen from a pool of 400 papers obtained from Scopus, Web of Science, Google Scholar, ABS journal and, among other sources. As a result of the review, the paper recommended that the rigorous implementation of environmental management accounting in the accounting process of Oil and Gas Companies in Nigeria. Finally, authorities should adopt laws and regulations to ensure that Nigerian oil and gas corporations understand the need of incorporating environmental and operational performance into long-term strategic goals.

Развитие методики оценки финансовых рисков как фактор обеспечения экономической безопасности предприятий

Due to the increasing role of financial risks of various nature and orientation, the paper formulates an approach to defining this definition. Financial risks are decomposed in terms of various classification features. The key financial risks in relation to the companies that are representatives of the oil and gas sector as a pivotal sector for the Russian economy have been specified. The analysis of modern approaches to the assessment of fi-nancial risks allows to conclude the priority of using probit- and logit-regression scoring models for these aims due to the high level of accuracy and simplicity of interpretation of their results. Therefore, as part of the re-search, a scoring model has been developed, which provides the possibility of carrying out a comprehensive assessment of financial risk. Based on the analysis of corporate reporting of the leading domestic oil and gas companies, the proposed model was tested and calibrated, its final form and weight coefficients of parameters were determined. The results obtained from the analysis of financial risks make it possible to draw a conclu-sion about the fairness of the model and its high reliability.

The impossible love of fossil fuel companies for carbon taxes

Economists agree that carbon taxes are the most effective solution for climate change mitigation. But where do fossil fuel companies stand on carbon taxes? I analyse how the 100 largest oil and gas companies communicate on carbon taxes. Surprisingly, I find that 54% of companies that have a policy on carbon taxes support them (78% for the 50 largest). This is puzzling as an effective carbon tax should reduce the revenues and reserve value of fossil fuel companies. To understand this paradox, I offer non-mutually exclusive reasons why fossil fuel companies might support carbon taxes. Oil and gas companies could use a carbon tax to get rid of the competition from coal, create a level playing field and remove regulatory uncertainty. Or they think that these taxes will not affect them because demand for oil and gas is inelastic or that international coordination will fail and lead to leakages. Finally, it could be that this is simply a communication exercise. A carbon tax helps them shift the responsibility from fossil fuel companies to customers, voters and elected officials.

Use of resource-saving technologies in the conditions of energy transition and sustainable development of enterprises of oil and gas complex of the Samara region

Today, the development of oil and gas complex is one of the most important factors in the development of the economy of each country. In the Samara region, oil and gas industry is of particular importance, as it is one of the main sources of income in the region. Therefore, the main objectives of this report will be to show the need to change the use of resource-saving technologies in the oil and gas industry in the conditions of energy transition and stable development. And also to consider in more detail the characteristics of oil and gas complex of the Samara region. Since oil and gas complex is one of the branches of the economy that is associated with the research, exploration, production, processing and transportation of oil and gas, this sector combines both companies and organizations working in the field of oil and gas exploration, production and processing, as well as equipment manufacturers, suppliers services, producers of petroleum products and gas companies.

Diabetes and Its Associated Factors among Oil and Gas Company Workers in Port Harcourt

The global burden of diabetes is becoming alarming; this has been aggravated by the change in lifestyle patterns which has encouraged the high prevalence of diabetes noticed today. The oil and gas company workers over the years have been predicted to have an increased prevalence of diabetes which has been attributed to the affluence of this population. The aim of this study is to determine the prevalence of diabetes and its associated factors among oil and gas company workers in Port Harcourt. The present study aim was to determine the prevalence of diabetes and its associated factors among oil and gas company workers in Port Harcourt. The study was carried out using a descriptive cross-sectional study and data’s were collected using a questionnaire. A total of 376 questionnaires were administered and 318 questionnaires were retrieved from three oil and gas companies in Port Harcourt. Majority (51.9%) of the workers were above 40years of age. (72.01%) were married and Christianity (94.03%) was the main form of religion as recorded in the study. The study revealed that (56.1%) of the workers have poor dietary habit as against (43.9%) that have good dietary habit. The mean BMI of the workers (26.5) shows that majority (40.9%) of the workers are overweight, which depicts the nutritional status of the workers. The overall prevalence of diabetes in this study is (19.8%) and of all the risk factors predicted to be associated with the occurrence of diabetes, only women who have given birth to babies weighing more than 4kg at birth showed an association with an adjusted odd ratio of 4.79(1.34-17.11) 0.016. Therefore, there is a significant association between women who have given birth to babies weighing more than 4kg at birth and the occurrence of diabetes. Management of the oil companies, through the health education department should encourage exercise and diabetes management education to curtail the growing prevalence of diabetes.

Influence of work motivation and leadership style on employee performance in oil and gas companies in Palembang

This research aims to determine the influence of work motivation and leadership style on employee performance in oil and gas companies in Palembang. The population in this study consists of all production function employees in oil and gas companies in Palembang in the years 2022-2023, totaling 428 individuals. Based on calculations using the Slovin formula, the sample size for respondents in this study is 114 employees in oil and gas companies in Palembang in the years 2022-2023. The results of multiple linear regression analysis show that work motivation and leadership style positively and significantly impact employee performance. Regarding work motivation, it is recommended to make changes in specific work units to maintain good relationships among employees and superiors. Regarding leadership style, there should be special attention from the company management to the leadership role toward employees. For employees to be appointed leaders, stakeholder training is necessary to become leaders who can support and make fair decisions for all employees.

Reviewing Advanced Treatment of Hydrocarbon-Contaminated Oilfield-Produced Water with Recovery of Lithium

The global demand for lithium, which is indispensable for electric cars and electrical devices, has increased. Lithium recovery from oilfield-produced water is necessary to meet the growing need for lithium-ion batteries, protect the environment, optimize resource utilization, and cut costs to ensure a successful energy transition. It is useful for keeping water supplies in good condition, adhering to legal requirements, and making the most of technological advances. Oil and gas companies might see an increase in revenue gained through the lithium extraction from generated water due to the recouping of energy costs. Therefore, this review focuses on contamination and treatment strategies for the oilfield-produced water. It includes a discussion of the global lithium trade, a financial analysis of lithium extraction, and a comparison of the various methods currently in use for lithium extraction. It was evaluated that economic considerations should be given priority when selecting environmentally friendly methods for lithium recovery from oilfield-produced water, and hybrid methods, such as adsorption–precipitation systems, may show promising results in this regard. Lastly, future prospects for the lithium industry were also discussed.

‘Water in the Desert?’: Oil India's CSR Impact in Assam

Incorporated on February 18, 1959, Oil India Ltd. (OIL) was a leading public sector oil and gas company involved in the exploration, development, production and transportation of crude oil and natural gas in India. Since its inception, OIL had committed itself to being a socially responsible organisation in and around operational areas, particularly the north-eastern state of Assam where 90% of company operations were concentrated. Despite many successes, the “People's Company” continued to be a target for disgruntled local and student communities who frequently created operational hazards for the firm—from sit-ins and blockades to pilfering and disrupting production facilities. No less than 400 organisations, of which 50-60 had been consistently active, were currently in the forefront of demanding something from OIL. Many of these demands were beyond the purview of OIL's CSR policy and focus areas. Additionally, being a Public Sector Undertaking (PSU), OIL also faced multiple demands from the government. On February 16, 2019, news arrived that there was yet another blockade in Duliajan, Assam. What should OIL do to address and possibly mitigate operational interruptions?

Implication of Ifrs 6 on the Financial Performance of Selected Oil Companies in Nigeria

The study aimed at evaluating IFRS 6 and its impact on the financial performance of oil and gas companies. This paper looked at how the adoption of IFS 6 changed the financial outcomes of several petroleum businesses in Nigeria. Five petroleum firms were randomly selected. Data were obtained from the published financial reports, and the necessary key financial performance indices were computed. The research utilized the paired correlation and sample t-test to examine the association and dissimilarity concerning post-IFRS 6 adoption and pre-IFRS 6 profitability, financial leverage, and liquidity under these two periods. The results revealed an insignificant association for the profitability and leverage variables, but found a significant association for the working capital variable for the two periods. The paired t-test result (hypothesis 1 showed t=1.617, p-value=0.140>0.05, hypothesis 2 showed t=1.863, p-value=0.095>0.05 and hypothesis 3 showed t=1.700, p-value=0.123>0.05, all at df=9) revealed that there was no substantial disparity in profitability, financial leverage, and working capital under the post-IFRS 6 adoption and pre-IFRS 6 periods. The outcomes of the research show that IFRS 6 has no outcome on the financial performance of Nigerian petroleum companies. It recommended that, in order to improve the quality of their financial reporting, oil and gas firms should adhere to the guidelines established by the IFRS 6. This could improve performance by bringing in more investments, making it easier to get money, and letting investors and analysts compare financial reports.

Ensuring the technological independence of oil and gas companies using patent analytics on the example of companies producing liquefied natural gas

The article analyzes technological development of the oil and gas industry in Russian Federation under international sanctions, as well as the directions of technology development and equipment production. The article purpose is to identify ways to achieve technological sovereignty in the industry. Patent statistics and construction of patent landscapes is considered as a method of choosing the direction of technological development. The study object is Russian oil and gas companies, while the main attention is paid to companies producing and distributing liquefied natural gas. The study subject is application of patent statistics for identifying trends and directions of technological development of the industry. The study result is determination of industry leaders, and the most promising areas of research in the field of means and methods of liquefied natural gas transportation, methods of its liquefaction or curing, as well as storage equipment. The article draws conclusions about the most promising technologies and patent trends, such as the creation of mobile plants for production of liquefied natural gas , including the construction of its own fleet of gas carriers and floating plants for the gas liquefaction to provide access to the infrastructure of offshore fields. In addition, for rapid development of new markets, the use of floating terminals for regasification is proposed. Approaches to assessing the innovation activity and competitiveness of companies have been considered.

Distributed clean energy opportunities for US oil refinery operations

The oil and gas industry is increasingly seeking operational improvements to reduce costs and emissions while improving resilience. This study describes techno-economic analysis of opportunities for distributed energy resources that could be integrated to support oil and gas companies’ economic, environmental, and energy resiliency goals. Specifically, the analysis evaluates solar photovoltaics, wind turbines, battery energy storage, landfill gas, biomass, municipal solid waste-to-energy, solar steam for process heat, combined heat and power, and electrolyzers for hydrogen production at two hypothetical refineries, one located in Louisiana and the other in southern California. These technologies could reduce the sites’ consumption of grid electricity and/or natural gas and thus can help reduce emissions. This study employs the ReOPT tool and System Advisor Model to evaluate the techno-economic potential for clean energy technologies to support refineries in achieving energy goals, including energy cost savings, resiliency, and emissions reductions. Results indicate that the associated costs of emissions reductions via several distributed clean energy technologies are competitive with other emissions reduction strategies such as energy efficiency, reducing flaring, direct carbon capture and sequestration, and markets under certain conditions. There are also cost beneficial opportunities for the use of renewable energy for refining, especially for resilience, depending on local conditions such as resources and utility costs.

Plant Operator Support using Industrial Artificial Intelligence

Despite the high degree of automation in industrial control systems, human operators in industrial plants play a critical role in ensuring uptime, production quality, and safety. Plant operators do so by not only monitoring the process but also intervening when the process runs into unusual or exception situations. In this paper, we present to ensure smooth plant operation by automatically identifying and investigating potential upcoming issues as well as providing recommendations to plant operators on how to address them with confidence. This is achieved by applying Artificial Intelligence (AI) techniques including deep learning, process mining, and graph search, on historical industrial process data such as alarm and event data, audit trails, engineering documents, and safety procedures. Our solution has been validated on data from the Draugen oil field operated by the Norwegian oil and gas company, OKEA.

The Influence of the Directors Boaards and Operational Profit and Loss on Tax Avoidance (Empirical Study of Sub-Oil and Natural Gas Companies Listed on the Indonesia Stock Exchange 2017-2022)

The phenomenon of taxation in Indonesia is Indonesia's low tax ratio in 2021 which is recorded at only 9.11%, a low tax ratio indicates a high level of tax avoidance in a country. This study aims to determine the influence of the Board of Directors and Operational Profit and Loss on Tax Avoidance. Tax avoidance in this study is measured by the Cash Effective Tax Rate. This study used a sample of oil and gas companies listed on the Indonesia Stock Exchange during 2017 – 2022 using a purposive sampling method. The analytical method used is quantitative descriptive analysis. The results of this study indicate that the proxy for the board of directors, operational profit and loss has no effect on tax avoidance

The impact of climate litigation and activism on stock prices: the case of oil and gas majors

The issue of oil and gas companies’ contribution to climate change gained particular prominence on May 26, 2021. A Dutch court ordered Royal Dutch Shell to significantly reduce its greenhouse gas emissions, while shareholder votes at Exxon Mobile and Chevron succeeded in pushing for further emissions reductions. Together, these events signify a sudden increase in climate litigation and climate activism risk for global oil and gas companies. This study assesses investors' perception of these events by investigating oil and gas companies’ stock price reaction. The results show a significant negative impact on the stock prices for European and North American oil and gas firms, while firms located in other jurisdictions record slight gains. Higher environmental, social, and governance scores appear to mitigate the negative impact on European and North American oil and gas companies, primarily driven through better emissions related measures. The results highlight the adverse effect of increased climate litigation and climate activism risk on firm valuations.

Impact of Intellectual Capital on Financial Performance of Listed Oil and Gas Firms in Nigeria

This paper examines the impact of intellectual capital on financial performance of listed firms in Nigeria. To achieve this objective; quantitative research design was employed. Data were generated from the annual reports and accounts of the sampled listed oil and gas companies from 2016-2020. The period is chosen and believes to be adequate in providing insight on the inflationary trends which the industry experienced. Similarly, the period of five years selected is in line with the studies of Muhammad and Rashid, 2015 as well as Iyande, 2018. Intellectual Capital as independent variable was measured by its components (HCE, SCE and CEE) while financial performance being the dependent variable was measured by NPM and ROE. Regression technique was used as tools of data analysis and the findings establish that the independent variables (HCE, SCE and CEE) have significant positive impact on the oil and gas companies’ Financial Performance proxies by NPM and ROE. The regression results show R-square of 86.1% and 59.4% for NPM and ROE models respectively. This implies that the model is fit and the explanatory variables are properly selected and account for the substantial value of the corporate profitability. Hence, the paper recommends that listed oil and gas companies in Nigeria should improve their efforts to boost the value of their intellectual capital for its crucial impact on NPM and ROE. This can be achieved through maximization of market value created, intellectual capital return and more investment in intellectual capital components, particularly human, structural and relational/customer capital.