Naftogaz Of Ukraine Research Articles

РЕФОРМУВАННЯ КОРПОРАТИВНОГО УПРАВЛІННЯ ГІРНИЧОДОБУВНИХ ПІДПРИЄМСТВ

The article is devoted to the study of the peculiarities of reforming the corporate management of enterprises in the mining industry. Challenges facing the industry are indicated. The role of corporate management is disclosed, the principles of such management are summarized. The advantages of corporate governance policy are outlined. Among the advantages, the following are highlighted: the possibility of wider access to financing, ensuring the protection of investors, maintaining the stability of the company. It has been investigated that the Government has set the task of introducing and ensuring compliance with corporate governance standards at the ten largest state-owned enterprises ofUkraine. The largest company in the mining industry - JSC "Naftogaz of Ukraine" was chosen as the object of the study. Considered how the process of reforming corporate governance took place in this company. The key elements of proper corporate governance of NJSC "Naftogaz of Ukraine" are: availability of full-fledged and effective management bodies; clear division of powers; functioning of the internal control system; elimination of political influence; creation of equal market conditions with private companies. It was determined that the attention of international organizations was drawn to the reform of the company's corporate governance. Experts of the Organization for Economic Cooperation and Development implemented two important projectsthat contributed to the implementation of the reform. The implementation of the corporate governance reform in Naftogaz of Ukraine led to the following changes: changes were made to the Company's Charter, the Ownership Policy was approved, new members of the Supervisory Board were elected, and a new corporate strategy was announced. It was concluded that the initiated reform of improving corporate governance by business entities remains an important priority for Ukraine. The success of the reform will depend on: the construction of the stock market and the maximum approximation of Ukraine to world standards; creation of a centralized body for state property management; avoiding political influence on the activities of companies; availability of professional stock managers; strengthening of regulatory influence

The Problems of Development of the Natural Gas Market in Ukraine on a Competitive Basis

In the article the main parameters of functioning of the natural gas market in Ukraine are analyzed in the context of ensuring competitive relations between economic entities on it. It is revealed that the sphere of natural monopoly includes the markets of transportation, storage and distribution of natural gas; it is reasonable to consider the natural gas supply market as potentially competitive, because the supply of natural gas is provided by many suppliers as for industrial consumers and for the population. JSC «Ukrgazvydobuvannia» and NJSC «Naftogaz of Ukraine» with all entities related to it by control relations occupy a monopoly (dominant) position on the natural gas sales market directly from the producer. The trends of price changes in the retail natural gas market for household and non-household consumers have been investigated. The comparative analysis of domestic prices for natural gas and its delivery with the prices of European countries has been carried out, the structure of natural gas prices for households in Ukraine and EU countries is given. The key aspects of the development of the national retail and wholesale gas market are highlighted. The level of concentration in the wholesale natural gas market has been investigated using the Herfindahl-Hirschman index. It has been revealed that the level of concentration of its various segments may vary from low, which certifies the existence of a competitive environment, to high, which is inherent in a monopoly. This market is still at the stage of formation, the level of competitiveness is significantly differentiated by different suppliers. It should be noted that most gas consumers were not prepared for the introduction of the natural gas market, they did not have sufficient information about the rights guaranteed by the state and the opportunities provided by legislation. It has been found out that violations of competitive activity in the natural gas market are quite frequent and the main ones found by the Antimonopoly Committee of Ukraine have been considered. The main factors influencing the development of the competitive environment in the domestic natural gas market are given and the main problems of its formation are identified.

НАФТОГАЗОВА ГАЛУЗЬ УКРАЇНИ ЯК ЧИННИК РЕГІОНАЛЬНОГО РОЗВИТКУ

The present paper considers the functioning of the oil and gas industry of Ukraine in relation to the formation of prerequisites for sustainable regional development and identifies the impact of oil and gas industry development on the economy of the regions. The article identifies the factors that outline the prospects for the development of the industry. In analyzing the importance of the oil and gas industry for regional development, special emphasis is put on ensuring the economic security of the region. The impact of carbohydrate production on the economy of the regions is significant. In the regions where there are prerequisites for oil and gas production, the oil and gas industry forms a significant part of the social and economic conditions of regional development. By creating jobs, providing revenues to local budgets, oil and gas companies become strategically important not only to ensure the energy security of the state, but also largely determine the strategic directions of development of certain regions. The analysis of the development of the industry in terms of regions allowed to determine the criteria by which it is proposed to assess the impact of the industry on regional development and the formation of regional economic policy. Factors of regional development, which can have a significant impact on the development of the industry, are job creation, investment in the regions, inflows into local budgets, increasing innovation potential, increasing production of enterprises that provide infrastructure to the industry. The oil and gas industry is characterized by a significant degree of centralization of management, which requires constant coordination of regional interests with the governing structures of the industry. Significant influence on regional development is actively exercised by investment projects of the state company "Naftogaz of Ukraine", the implementation of which is taking place or planned in the near future. The presence of a certain resource potential for the development of the industry in some regions raises the urgency of harmonizing the strategic objectives of the industry with the establishment of effective mechanisms for sustainable regional development and regional economic policy that takes into account the prospects of carbohydrate production in Ukraine.

ОСОБЛИВОСТІ РОЗВИТКУ КОРПОРАТИВНОЇ КУЛЬТУРИ НАФТОГАЗОВИХ ПІДПРИЄМСТВ

The article reveals the peculiarities of the development of corporate culture on the enterprises of oil and gas industry. Theoretical analysis of the essence of corporate culture is carried out. The concept of “corporate culture” is proposed as a set of material and spiritual elements that reveal the hidden human potential and unite people in achieving the valuе of the enterprise. The emphasis was made on modern principles of corporate culture that take place in the activities of enterprises. The factors limiting the formation of corporate culture are generalized. Among them the main factors are: frivolity in the formation of corporate culture and compliance it elements with the codex of corporate culture; neglect of the main elements of corporate culture when choosing a leadership style; ineffective staff assessment; unwillingness of managers and their subordinates to innovate, namely in situations that require adaptation to change. The general characteristic of a state of corporate culture at the enterprises of group «Naftogaz of Ukraine» is presented. Challenges of enterprises in the context of the emergence of new norms in the energy market, namely energy prices, distribution of the gas transmission system managed by an independent operator, the introduction of the gas market for household consumers have been considered. Methods of their incorporation into enterprise policy the by revision of corporate codex of the enterprises are offered. It is determined that to ensure the successful operation of enterprises, management must considers not only the external environment, but also internal – needs of employees who encourage them to innovate. The author gives arguments on the use of corporate culture tools in oil and gas companies of Ukraine, which can be considered as a driver of improving their efficiency.

ANALYSIS OF FACTORS AND DEVELOPMENT OF METHODS FOR MANAGING THE ENVIRONMENTAL AND CIVIL SAFETY OF TRANSBOUNDARY TRANSPORTATION OF OIL AND OIL PRODUCTS THROUGH PIPELINES

Transportation of oil and oil products through main pipelines is accompanied by the outpouring of these components into the environment, which creates risks of reducing the level of environmental safety and emergencies. The object of research is the factors and methods of environmental and civil safety management of cross-border transportation of oil and oil products through pipelines. Investigated problem is the analysis of environmental and civil safety management factors for cross-border transportation of oil and oil products through pipelines has been carried out and new technical and organizational solutions have been proposed to improve the level of management. The environmental safety of oil and gas facilities is defined as the state of environmentally safe functioning of oil and gas facilities and the absence of harmful environmental impact on these facilities. On the basis of the analysis of emergency situations on the linear part of the main oil pipelines, five main reasons leading to depressurization have been identified and ranked. The oil pipeline emergency is presented in a mathematical form. The analysis of depressurization of main oil pipelines in the world and in the Lviv region is carried out. The international normative legal acts regulating the management aspects of environmental and civil safety of cross-border transportation of oil and oil products are analyzed. Innovative products – in case of water pollution as a result of a catastrophic inflow of oil products, it is proposed to use a patented installation for modeling the process of pollution of running water and a method of physical modeling of the process of spreading pollution as a result of a single discharge of oil products into the river. In the case of soil contamination with oil products, it was proposed to use a patented installation for modeling the process of filtration of contaminated solutions through the soil or bottom sediments. The advantages of the proposed new technical solutions based on known analogues are shown. The area of practical use of the research results is the subdivisions of the Ministry of Environmental Protection and Natural Resources of Ukraine, the State Service of Ukraine for Emergency Situations, NJSC Naftogaz of Ukraine, higher educational institutions, research institutes of oil and gas ecological profile.

SOCIAL INVESTMENT IN CORPORATION DEVELOPMENT STRATEGY IN UKRAINE

The article is devoted to identify the need for social investment in the activities of Ukrainian corporations in formulating a social responsibility strategy. The purpose of the article is to investigate the development of social investment in the activities of corporations to determine the main directions of social responsibility in the formation of the strategy of Ukrainian companies. The methodological survey was conducted using a social investment index based on data from the official e-CSR website, non-financial reports of Ukrainian best-practice companies and corporate sustainability reports. The article is investigated definition of social investment as a subjects of the investment process, types of social investments. It is calculated the social investment index of Ukranian best-practice companies with responsible investing practices (PJSC «Mironovsky Bakery», DTEK, NNEGC Energoatom, PJSC Arcelor Mittal Kryviy Rih, NJSC «Ukrenergo», LLC Lifefell, NJSC Naftogaz of Ukraine, LLC «Nova Poshta», SCM, PJSC Carlsberg Ukraine). The analysis allowed to determine the effective and destructive directions of doing socially responsible business which is based on selected indicators. The results allowed us to identify key barriers to social investing and the main directions of development of corporate social investment in Ukraine: increase of transparency of corporate activity, information awareness of business on the development of social investments in the national market, ensuring the ethics of doing business and adhering to the principles of integrity in the implementation of company development strategies, improving product quality in accordance with international standards.

ОЦІНКА ФІНАНСОВОЇ СТІЙКОСТІ ПІДПРИЄМСТВА НА ОСНОВІ ІМІТАЦІЙНОЇ МОДЕЛІ

На основі імітаційної моделі аналізу показників публічного акціонерного товариства «Національна акціонерна компанія «Нафтогаз України» (ПАТ «Національна акціонерна компанія «Нафтогаз України») досліджено необхідність запровадження й активного використання оцінки фінансової стійкості підприємства, що дозволить здійснити прогноз і підвищити ефективність газової та нафтопереробної галузей. Визначено, що одним з найважливіших завдань у галузі прогнозування тенденцій розвитку підприємства є оцінка його фінансової стійкості, здійснювана на основі науково обґрунтованих моделей, оскільки саме цей показник, у першу чергу, є фактором організаційного й економічного розвитку підприємства. Аналіз практичного застосування відповідних імітаційних моделей і методик оцінки створює основу для прийняття грамотних та ефективних управлінських рішень. Доведено, що використання універсальної дискримінантної функції дає можливість істотно спростити аналіз фінансової стійкості, однозначно оцінити фінансовий стан підприємства, тому саме вона береться за основу для побудови комплексного алгоритму оцінки фінансової стійкості, заснованого на імітаційному моделюванні.

Oil & gas sector development, as a component of energy of Ukraine

The article analyzes the current state and perspective directions of development of the energy sector of Ukraine in general and the oil and gas complex in particular, which should meet the Plan of measures for the implementation of the stage “Reform of the energy sector (until 2020)” of the Energy Strategy of Ukraine for the period until 2035 “Security, energy efficiency, competitive”. According to the study, at the time the report was released, 80% of the points foreseen by the Plan were not fulfilled. Some legislative initiatives and changes in the regulation of markets of fuel and energy resources are considered. The article analyzes the dynamics of changes in energy consumption. The main trends in the development of the gas and oil products markets are identified. It is found that, despite progress on diversification of supply sources, the country is heavily dependent on imports of energy from The Russian Federation. Separate consideration is given to the transit of natural gas from the Russian Federation to the EU. It is noted that the signed contract is quite compromise and provides a transit pipeline load of less than 40%. The main reasons for the change in the structure of the use of fuel and energy resources, in particular, the practical termination of the use of fuel oil as a boiler-furnace fuel, are also highlighted. The data of the State Statistics Service of Ukraine on the dynamics of prices for natural gas for all categories of consumers, including tariffs for transportation, distribution and trade margin (for household consumers), were also processed. A steady increase in natural gas prices for household consumers was noted during almost the entire analyzed period. Naftogaz Ukraine’s unbinding process was investigated. It is revealed that all necessary steps have been taken to create an independent gas transmission system operator, which took place on January 1, 2020. The implementation of the Energy Community Directives and Regulations in the energy sector has been analyzed, with overall sales less than 50%. The main results of the Stockholm Arbitration between Naftogaz of Ukraine and Gazprom are considered.

MAIN STAGES OF FORMATION OF OIL AND GAS OBJECTS AND THEIR FUNCTIONAL AND PLANNING ORGANIZATION

The article deals with the experience of formation and justification of the main stages of development of industrial architecture and features of buildings and structures that ensure its functioning. The main stages and periods of development, formation peculiarities of oil and gas objects in the territory of East Galicia in the study were formulated on the basis of a certain methodology and the functional, planning organization of production territories and enterprises was analyzed. The development of the oil and gas industry is divided into four periods, in which the urban and architectural features are analyzed. The pre-industrial period wascharacterized by the absence of architectural buildings, a manual labor was the basis; the first enterprises exist in the period of the emergence and development of industry, which become the main city-forming factors; the period of industrial development brought new construction, reconstruction and expansion of destroyed enterprises, new building materials and scientific achievements; the largest oil and gas company NJSC "Naftogaz of Ukraine is created in the post-industrial period", which is a monopolist in the market of this industry, some enterprises operate in the usual mode, some partially fulfill their original function, others - need reconstruction. Each stage is characterized by its most peculiar historical features, reflecting certain advances in scientific and technological progress. The article shows the evolution of the formation of the oil and gas industry from its inception to the present, showing its formation from the most primitive method of oil and gas production to the formation of large enterprises.

FINANCIAL SUSTAINABILITY MODELLING AND ESTIMATION OF THE PUBLIC JOINTSTOCK COMPANY «NATIONAL SHAREHOLDER COMPANY «NAFTOGAZ OF UKRAINE»

The current stage of development of a public joint-stock company «National Joint-Stock Company «Naftogaz of Ukraine» is characterized by an increase of negative trends. The main retaining factors for the enterprise development are the complex economic and political situation in the country, the negative dynamics of the main macroeconomic indicators, the high cost of the UAH resource, and the dominant devaluation processes. One of the conditions for a stable fi nancial and economic development of the industrial enterprises is the proper management of the movement of their fi nancial resources. Consequently, in the case of consideration of the enterprise, it is necessary to proceed from the fact that the key role is played by continuous fi nancial processes, which should be understood as the sequence of tasks or procedures that collectively provide the completion of a particular production activity. The formation of a market fi nancial and credit system requires enterprises to increase the effi ciency of activities, competitiveness of petroleum products and services based on the implementation of scientifi c and technological progress, eff ective forms of management and management of the enterprise.

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

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.

ДЕКЛАРАЦІЯ РИЗИК-АПЕТИТУ ЯК ІННОВАЦІЙНИЙ ІНСТРУМЕНТ РИЗИК-МЕНЕДЖМЕНТУ БАГАТОНАЦІОНАЛЬНИХ ПІДПРИЄМСТВ

This article analyzes the preconditions and genesis of the concept of risk appetite from the first works on rational decision problem in the conditions of risk and uncertainty, researched by John von Neumann and Oscar Morgenstern in the mid of 20th century within the description of the utility function, to the modern use of Risk Appetite Statement as an innovative risk management tool of the multinational enterprises (MNE). A special focus is placed on the practical use and benefits of the Risk Appetite Statement within the process of internationalization and MNE development of the both financial and non-financial sectors of economy of the US, European Union and Ukraine. The paper argues that the Risk Appetite Statement tool not only sets limits on risks, but also provides other important advantages for MNE in forming a business development strategy and implementing key projects. Practical application of the Risk Appetite Statement in the largest state-owned enterprise of Ukraine NJSC "Naftogaz of Ukraine" is considered in detail.

ЩОДО СТВОРЕННЯ ДЕРЖАВНОГО БАНКУ ДАНИХ ГЕОЛОГО-ГЕОФІЗИЧНОЇ ІНФОРМАЦІЇ

The article suggests creation of state database of geological and geophysical information. It deals with the main problem that must be solved during creation and implementation this database. It also defined the main information resources and possible hierarchical structure of state database of geological and geophysical information Key words: Databases, state bank of geological and geophysical data, exploration, processing, interpretation

НЕЗАЛЕЖНА ЕКОЛОГО-ЕКОНОМІЧНА ЕКСПЕРТИЗА ПРОЕКТІВ З МОДЕРНІЗАЦІЇ ТА РЕКОНСТРУКЦІЇ ОБ'ЄКТІВ ГАЗОТРАНСПОРТНОЇ СИСТЕМИ УКРАЇНИ


 
 
 The article is intended to update the problems of managing the safe operation of objects of gas transportation as sources of technogenic and ecological danger, which is identified as one of the priority directions of development of NJSC «Naftogaz of Ukraine». The analysis of applied prerequisites for the use of economic expertise as a controlling instrument at the enterprises of the oil and gas industry of Ukraine has been carried out. The basic elements of the economic expertise concerning the projects of reconstruction, modernization and re-equipment of objects of the gas transportation system are determined. It is proved that the issue of determining and assessing the economic feasibility of incurred expenses for such measures is the subject of economic examination. The expediency of conducting it besides the obligatory departmental expertise was considered for ensuring completeness and objectivity in the part of both designing and direct reconstruction.
 
 

РОЛЬ ТА МІСЦЕ ДП «НАУКАНАФТОГАЗ» У РОЗБУДОВІ НАФТОГАЗОВОГО КОМПЛЕКСУ УКРАЇНИ ТА МІЖНАРОДНОМУ СПІВРОБІТНИЦТВІ

Subsidiary enterprise «Research Institute of Oil and Gas Industry» (SE Naukanaftogaz) was established in 2003.Today SE is a modern Institute, whose activity covers basic directions of oil and gas industry, as well as wide range of scientific, technical and engineering works and services.Main types of scientific and technical investigations in geology, geophysics, seismics, exploration and development of hydrocarbon fields, unconventional hydrocarbons, oil and gas transportation, underground gas storage, energy saving, economics are carried out in compliance with the implemented quality system according to DSTU ISO 9001: 2009 (ISO 9001: 2008, IDT) «Quality Management Systems. Requirements».The team of highly experienced scientists of oil and gas industry is formed in the Institute.The Institute is equipped with modern licensed software and hardware products of leading companies (Schlumberger, Computer Modelling Group, SGG etc.) and using its own know-how methods and applications and experience.One of the most powerful modern scientific base in Ukraine, which includes the highly productive computing cluster for the processing of large amounts of geological, geophysical, seismic, geological and production information (Storage-20 Tb) was created in the Institute.The base of geophysical and geological information of oil and gas recourses, which includes about 300 licensed areas, 440 oil and gas fields of Ukraine and 3900 wells was formed in the Institute.10 oil and gas fields in Ukraine (Subbotina, Runovshchynske, Schidno-Runovshchynske, Akademika Shpaka etc.), as well as 6 fields in Egypt (Alam El Shavish License Block) has been opened during the last ten years. More than one hundred recommendations for geological exploration works and increasing of the resource base of hydrocarbon fields owned by JSC Ukrgazvydobuvannia and JSC Chornomornaftogaz were submitted.Also «Strategy of Development of Oil and Gas Industry of Ukraine till 2030», «Specified State Programme of Development of Ukrainian Sector of Black and Azov Seas», «Concept of Ukrainian Underground Gas Storage Facilities Development» were designed, as well as 74 regulations (national and industry standards, regulatory acts and other documents), 38 patents for inventions and utility models were received.The first in the Black Sea area Subbotina oil field was opened on a basis of the recommendations of the Institute.6 oil fields (HG, WHG, EHG, NHG, Karima, Malaka) in the Arab Republic of Egypt were opened according to the recommendations of the Institute.Investment projects and priority prospecting drilling (within the on-shore part of Ukraine and shelf of Black and Azov Seas and licensed units abroad - in Egypt, UAE, Libya, Turkmenistan, Russian Federation) were prepared.According to the results of the recommendations the reserves increased to 7.0 bln.m3 of gas and 5.8 mln. tons of oil.More than 20 permanent geological and technological models of oil and gas fields, created by the scientists of the Institute, are supported. Implementation of the recommendations formed on the basis of these models will provide an additional 3.2 billion m3 of gas and 3.3 mln tons of oil, and will increase the gas reserves to 2.8 bln m3, and oil reserves to 6.1 mln tons.System for monitoring of field development of National Joint Stock Company «Naftogaz of Ukraine» was created.The most significant projects carried DP Naukanaftogaz for the last 10 years (http://www.naukanaftogaz.com). Key words: SE Naukanaftogaz, geology and development of oil and gas field, standardization

Research of marketing effectiveness of the enterprises of oil and gas complex of Ukraine

It is researched that most enterprises of oil and gas complex don’t pay attention to the effective usage of marketing concepts, and this leads to a utilitarian approach towards management and solving of short-term problems. However, using marketing technologies in the production of oil and gas sector will not only prevent strategic mistakes, but also define the most effective and promising areas of the industrial sector that will contribute to the ultimate positive systematic effect in the link: enterprise – industrial sector – the economy of Ukraine. The main drawbacks of marketing organization performance of «Naftogaz of Ukraine» are defined, namely the lack of a definite positioning in the domestic and foreign markets; the dependence on the world market prices; the lack of an effective marketing strategy; low level of monitoring and marketing auditing as separate management functions, and within total controlling of an enterprise. In order to develop an effective marketing strategy for the enterprises of oil and gas complex, and to monitor market efficiency and manage market position, it is suggested to complete financial performance indicators with marketing efficiency indexes. It is substantiated that a standardized methodology of external market activity indicators estimation don’t exist, but the combination of internal and external estimate will enable management personnel and business owners to conduct a comprehensive estimation of a particular company estimation and of «Naftogaz» as a whole.