Oil Sector Research Articles

Gender diversity and climate disclosure: a tcfd perspective

AbstractThe paradigm of corporate environmental disclosures aimed at investors developed in 2017 with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. Existing literature on social responsibility disclosures points to gender diversity on the board of directors as an influencing factor. This study aims to assess the influence of gender diversity in climate-related financial disclosures, as recommended by the TCFD based on a sample of 27 companies operating within the sectors of electricity, oil, coal and gas, water, and alternative energy that have announced their adherence to the recommendations from 2017 to 2021. By applying a linear regression model, the results indicate the presence of a positive association between the level of TCFD disclosures and board gender diversity, as well as other factors, such as company size, CEO duality, and general liquidity. However, the influence of board gender diversity on corporate reporting based on the TCFD recommendations suggests that the commitment of boards to the reporting of climate change risks and opportunities is not significantly dependent on gender diversity, as the presence of women in the Boards is favorable for the reporting but without a significant impact on the level of disclosures. This research offers insights into sustainability reporting practices, focusing on a relatively new perspective of reporting climate-related financial topics and their determinants. The findings hold implications for organizational leaders and stakeholders, mainly investors, as these recent sustainable reporting practices are challenging but also bring new opportunities related to transparency towards climate-related issues.

Regression analysis and its application to oil and gas exploration: A case study of hydrocarbon loss recovery and porosity prediction, China

In oil and gas exploration, elucidating the complex interdependencies among geological variables is paramount. Our study introduces the application of sophisticated regression analysis method at the forefront, aiming not just at predicting geophysical logging curve values but also innovatively mitigate hydrocarbon depletion observed in geochemical logging. Through a rigorous assessment, we explore the efficacy of eight regression models, bifurcated into linear and nonlinear groups, to accommodate the multifaceted nature of geological datasets. Our linear model suite encompasses the Standard Equation, Ridge Regression, Least Absolute Shrinkage and Selection Operator, and Elastic Net, each presenting distinct advantages. The Standard Equation serves as a foundational benchmark, whereas Ridge Regression implements penalty terms to counteract overfitting, thus bolstering model robustness in the presence of multicollinearity. The Least Absolute Shrinkage and Selection Operator for variable selection functions to streamline models, enhancing their interpretability, while Elastic Net amalgamates the merits of Ridge Regression and Least Absolute Shrinkage and Selection Operator, offering a harmonized solution to model complexity and comprehensibility. On the nonlinear front, Gradient Descent, Kernel Ridge Regression, Support Vector Regression, and Piecewise Function-Fitting methods introduce innovative approaches. Gradient Descent assures computational efficiency in optimizing solutions, Kernel Ridge Regression leverages the kernel trick to navigate nonlinear patterns, and Support Vector Regression is proficient in forecasting extremities, pivotal for exploration risk assessment. The Piecewise Function-Fitting approach, tailored for geological data, facilitates adaptable modeling of variable interrelations, accommodating abrupt data trend shifts. Our analysis identifies Ridge Regression, particularly when augmented by Piecewise Function-Fitting, as superior in recouping hydrocarbon losses, and underscoring its utility in resource quantification refinement. Meanwhile, Kernel Ridge Regression emerges as a noteworthy strategy in ameliorating porosity-logging curve prediction for well A, evidencing its aptness for intricate geological structures. This research attests to the scientific ascendancy and broad-spectrum relevance of these regression techniques over conventional methods while heralding new horizons for their deployment in the oil and gas sector. The insights garnered from these advanced modeling strategies are set to transform geological and engineering practices in hydrocarbon prediction, evaluation, and recovery.

Bibliometric Analysis on Quality Management in the Oil Sector

Bibliometric Analysis on Quality Management in the Oil Sector

The Enablers of CSR to Drive a Multifaceted Approach in Pakistan’s Oil and Gas Sectors : Modeling and Evaluating the Enablers of CSR .....

The Enablers of CSR to Drive a Multifaceted Approach in Pakistan’s Oil and Gas Sectors : Modeling and Evaluating the Enablers of CSR .....

The impact of foreign direct investment on exports in the kingdom of Saudi Arabia (an empirical study)

This study is considered one of the few studies that attempted to explore the relationship between exports and foreign direct investment in the Kingdom of Saudi Arabia. The study aims to determine the nature of the relationship between exports and foreign direct investment in the Kingdom of Saudi Arabia during the period between (1990–2023). Employing Ender’s methodology using cointegration and error correction model. The study also relies on data on Saudi exports and foreign direct investment inflows from the World Bank databases. The results indicate the existence of Cointegration between foreign direct investment (FDI) inflows and the Saudi exports in the period (1990–2023), as for the causal relationship between the two variables, the results showed the causal relation between exports and FDI inflows from the direction of exports only, which means that Saudi exports cause FDI inflows in Saudi Arabia, and the study recommends giving more incentives to attract foreign investors in different sector rather than oil sector, besides improving the logistical services which is vital to any investment attraction strategy.

Online testing of extinction method of high-pressure natural gas oil mist based on light extinction

Abstract This paper proposes a theoretical model and scheme for accurately measuring droplet concentration in high-pressure natural gas environments, aiming for precise, online measurement of lubricating oil mist. The model integrates droplet behavior, light extinction properties of the medium, and pressure, using the light extinction method. It applies the Debye Series Expansion of Mie scattering to improve the light extinction coefficient for mediums such as lubricating oil particles. Differential Optical Absorption Spectroscopy is used to calculate the extinction index of natural gas at different pressures. The study innovates by replacing the traditional parallel light path with a non-parallel path that focuses the light beam, countering beam diameter expansion due to gas pressure. Empirical testing shows the method’s accuracy in online oil mist testing under 10 MPa pressure, with less than 5% error compared to offline methods. This work paves the way for future high-pressure gas particle monitoring, particularly in the oil and natural gas sector.

Towards Sustainable Energy Development: Integrating Traditional and Renewable Energy in Azerbaijan’s Energy Policy

The article examines the formation of Azerbaijan's energy policy and the multivector development of its fuel and energy complex. In the context of global transformations and changes in energy flow structures, the author emphasizes the balanced development of both hydrocarbon and carbon-free segments of energy. The proposed concept of sustainable energy development envisages the harmonious coexistence of traditional and renewable energy, enhancing Azerbaijan's economic stability and geopolitical influence. The significant role of the oil and gas sector, demonstrated by successful projects and substantial foreign investments, is reinforced by the active development of renewable energy sources. Azerbaijan implements large-scale projects in wind and solar energy, as well as initiatives for the production of «green» hydrogen, which contributes not only to the reduction of emissions but also to the expansion of the country's export potential. The article highlights the importance of balanced FEC development, focusing on emission minimization through the application of carbon capture and utilization (CCUS) technologies, as well as the need for infrastructure modernization to improve energy efficiency. Azerbaijan demonstrates a unique case where traditional and renewable energy do not compete but complement each other, strengthening its positions in international cooperation and within the framework of the Greater Eurasian Partnership.

Retraction Note: A comprehensive study on artificial intelligence in oil and gas sector.

Retraction Note: A comprehensive study on artificial intelligence in oil and gas sector.

Clustering olive oil mills through a spatial and economic GIS-based approach

Sicily ranks as the third-largest region in Italy for olive growing and olive oil production, holding the second position nationally regarding the number of active olive oil mills. This pioneering study integrates spatial and economic analyses to examine the geographical distribution of olive oil mills in Sicily and their relationship with the localization of olive groves. Using Local Indicators of Spatial Association (LISA), we conducted an advanced analysis of spatial patterns of olive oil mills, considering travel time on the road network. The adopted methodology addresses issues related to overestimation based on straight-line assumptions and the neglect of travel speed. Unlike traditional Euclidean distance approaches, our methodology provides a detailed understanding of the spatial relationships between olive oil mills and olive groves, revealing distinct patterns linked to elevation and proximity to olive groves. By linking profitability indicators with spatial clusters, we identify different thresholds of economic sustainability. Consequently, these findings contribute to a more comprehensive understanding of the olive oil industry, suggesting more environmentally sustainable practices. Policymakers, researchers, and industry stakeholders can leverage this knowledge to make informed decisions that foster the long-term sustainability of the olive oil sector.

Key Factors Affecting the Success of Construction Multi Project Management

Simultaneous management of multiple projects has become a trend in the field of energy, oil and gas construction project management over the past decade. This situation is driven by the high market demand and need for fossil fuels, which also stresses project management discipline to improve its performance and efficiency in managing multiple projects simultaneously. Nevertheless, concurrent execution of multiple construction projects often leads to stretched the project durations and cost due to suboptimal resource management, which may become a boomerang and increase project costs. The objective of this study is to identify factors and indicators that contribute to the successful management of multiple projects. Although multi-project management has been extensively studied, there is still a dearth of studies analyzing the elements that make construction multi-project management successful, particularly in the energy, oil, and gas sectors. This research is a case study of an EPCIC company that uses multi-project management and operates in the oil and gas sector. Through purposive sampling techniques, a total of 58 executives from national oil and gas contractors with significant work experience participated in this study through a questionnaire survey. The PLS-SEM approach has revealed that the positive predictor factors influencing the success/performance of multi-project management are resource allocation, teamwork quality, multi-project management competency, and project manager assignment. Flexible and intelligent resource allocation management in multi-project cycles affected by uncertainty is a critical factor.

Efficiency rankings of economic sectors: a focus on sustainability and circularity objectives

Purpose Waste generation poses a significant environmental challenge in the United Arab Emirates due to the rapid urbanization, population growth and industrialization witnessed in recent decades. As a result, there has been a substantial surge in waste production. To fulfil its sustainability and circular economy aspirations in various economic domains, the UAE must prioritize efficient waste management. The purpose of this study is to assess the environmental and energy efficiency of the UAE’s economic sectors particularly within its vital energy sectors, which encompass crude oil, natural gas and mining, manufacturing and electricity, by gauging their adherence to sustainability and circularity objectives. Design/methodology/approach The authors used the data envelopment analysis input–output model to identify sectors that exhibit strong performance as well as those that are falling behind. Findings Based on this study, the agriculture, the crude oil, natural gas and mining sectors and financial services and banking were found to be the most efficient. The results of this study concluded that the UAE is making progress toward achieving its sustainability and circularity objectives; however, the findings suggest that more effort is needed to fully realize these goals. Originality/value By identifying high-performing and underperforming sectors, decision-makers can prioritize efforts to enhance sustainability and circularity in area of greatest need in the economy.

THE ROLE OF GOVERNMENT SUPPORT IN THE DEVELOPMENT OF THE CCS MARKET: EXPERIENCE OF COUNTRIES WITH A DEVELOPED OIL AND GAS INDUSTRY

The article examines the role of government support in the development of the Carbon Capture and Storage (CCS) Technology market in countries with a developed oil and gas industry. It is shown that the implementation of CCS in the oil and gas sector has significant economic and environmental importance, as it allows not only to reduce the large-scale greenhouse gas emissions of this industry but also to increase the oil recovery factor through the injection of captured CO2 into depleted reservoirs. An analysis of the cost chain of various stages of the CO2 capture, transportation, and storage process is carried out, and the most costly elements are identified. The economic aspects of using Carbon Capture, Use, and Storage (CCUS) Technology for enhanced oil recovery are considered, and the need for government subsidies to ensure the commercial attractiveness of such projects under low CO2 emission prices is justified. The global experience of using economic instruments (carbon taxation, tax incentives, grants) to stimulate CCS projects in various industrial sectors is investigated. Significant differences in the approaches of leading countries compared to Russia are revealed. Pilot initiatives of the largest Russian oil and gas companies for the implementation of CCS technologies are analyzed. Recommendations are formulated for the creation of favorable regulatory conditions and effective mechanisms of government stimulation for the widespread adoption of CCS in Russia, taking into account its specifics as a major hydrocarbon producer.

Interpreting Digital Transformation from a Psychological Perspective: A Case Study of the Oil and Gas Industry

This article addresses the problem statement and objective by exploring the necessity, scope, and execution of digital transformation in the oil and gas industry from a psychological perspective. It highlights the cognitive barriers faced by non-ICT professionals, which are often overlooked in traditional approaches. The study integrates case studies and empirical evidence from a mixed-methods approach, including qualitative interviews with industry experts and quantitative surveys among employees, to provide a comprehensive understanding of the transformation process. The research emphasizes the integration of psychological theories with practical digital transformation strategies, illustrating key obstacles and solutions. By adopting a holistic approach that incorporates both technological advancements and psychological insights, the study aims to enhance the effectiveness and sustainability of digital transformation efforts. Major contributions include identifying cognitive barriers, proposing solutions to overcome these barriers, and presenting real-world applications that demonstrate the successful merging of psychological insights and digital strategies in the oil and gas sector.

Hematological and neurological impact studies on the exposure to naturally occurring radioactive materials

Naturally Occurring Radioactive Materials (NORM) contribute to everyone's natural background radiation dose. The technologically advanced activities of the gas and oil sectors produce considerable amounts of radioactive materials as industrial by-products or waste products. The goal of the current study is to estimate the danger of long-term liability to Technologically Enhanced Naturally Occurring Radioactive Materials (TE-NORM) on blood indices, neurotransmitters, oxidative stress markers, and β-amyloid in the cerebral cortex of rats' brains. Twenty adult male albino rats were divided into two equal groups (n = 10): control and irradiated. Irradiated rats were exposed to a total dose of 0.016 Gy of TE-NORM as a whole-body chronic exposure over a period of two months. It should be ''The results showed no significant changes in RBC count, Hb concentration, hematocrit percentage (HCT%), and Mean Corpuscular Hemoglobin Concentration (MCHC). However, there was a significant increase in the Mean Corpuscular Volume of RBCs (MCV) and a significant decrease in cell distribution width (RDW%) compared to the control. Alteration in neurotransmitters is noticeable by a significant increase in glutamic acid and significant decreases in serotonin and dopamine. Increased lipid peroxidation, decreased glutathione content, superoxide dismutase, catalase, and glutathione peroxidase activities indicating oxidative stress were accompanied by increased β-amyloid in the cerebral cortex of rats' brains. The findings of the present study showed that chronic radiation liability has some harmful effects, that may predict the risks of future health problems in occupational radiation exposure in the oil industries. Therefore, the control of exposure and application of sample dosimetry is recommended for health and safety.

Building MSME Competitiveness Through the Local Business Development Program in the Upstream Oil and Gas Working Area of the Rokan Block in Riau Province

This study examines the potential optimization of the Local Business Development (LBD) partnership program in the development of MSMEs in the upstream oil and gas work area of the Rokan Block, Riau Province. MSMEs in Indonesia, totaling 64.2 million units, play a crucial role in the economy by contributing 61.07% to GDP and absorbing 97% of the workforce. However, MSMEs face various challenges such as limited access to financing and low technical capabilities. Pertamina Hulu Rokan (PHR), through the LBD program, seeks to enhance the capabilities of local MSMEs in the oil and gas mining sector. This study uses the SEM-PLS analysis method to explain the relationship between partnership, entrepreneurial orientation, human resource capability, organizational learning, and the competitive advantage of MSMEs. Data were collected through questionnaires from 232 MSME owners registered in the LBD partnership program. The analysis results show that partnership, entrepreneurial orientation, and organizational learning significantly influence human resource capabilities and the competitive advantage of MSMEs. This research provides practical and theoretical guidelines for the implementation of the LBD-based partnership program, as well as deep insights for oil and gas companies, the government, and relevant stakeholders in enhancing the contribution of partnerships to MSME development. This study also bridges existing research gaps and empirical gaps and offers a new perspective on partnership theory with a local business development contract cooperation pattern supported by the upstream oil and gas company's partnership program.

تطبيق دروس السلامة المستفادة من قطاع الطيران المدني التجاري على صناعة النفط والغاز

Commercial aviation safety-related protocols and initiatives have received considerable interest from several industries due to the widely recognition of their effectiveness as an ultra-safe industry. And yet, it’s not clear how to adopt these protocols in oil and gas sector. Thus, this article provides a typology of these protocols to apply to the oil and gas sector. This paper examines seven examples of error counter measures used in commercial aviation safety. Examples are Crew Resource Management (CRM) and Line Operations Safety Audit (LOSA) methodology. This would help in developing a conceptual typology that might potentially apply to the oil and gas industry. The initiatives examined in this article fall into twofold themes: concepts that seek to increase collective awareness of safety values; and concepts that promote safety by design. The results of this research revealed that all task checklists, joint safety briefings, and the confidential safety reporting system are protocols that help users routinely enhance workplace safety. However, initiatives such as the sterile cockpit system and LOSA approach in frontline operations fall under the responsibility of middle and upper management to ensure safety performance. Examining and discussing the proposed typology with the sector’s safety experts and front-line professionals before the implementation process would highlight any unanticipated challenges, and therefore proactively reduce them to promote an organizational safety culture in the oil and gas sector which enables operational cost reduction and mitigates loss-time injury. Finally, this study outlines that it is possible to benefit from aviation safety standards in the oil and gas sectors and achieve higher safety performance. Keywords: Oil & Gas Safety; Occupational Safety; Safety Management; Safety Culture; Aviation Safety; Threat and Error Management.

Effect of Emitted Gases on the Health of Workers in the Oil Sector

This study was conducted on a group of oil refinery workers. The aim of this research is to reveal the extent to which workers in this field are exposed to types of pollution, including pollution resulting from toxic gases during works as well as health problems to which they may be exposed. This study showed higher urea and creatinine levels in some workers compared to the control sample there was a slight increase in blond images, as well as an increase in the content of liver enzyme and alkaline phosphates. Therefore, proper und correct preventive methods must be followed to avoid problems resulting from working in this field.

A Framework of Best Practice by Upstream Oil and Gas Contractors in Malaysia

Due to unstable global economic conditions, Malaysia’s oil and gas industry encounters numerous challenges and uncertainties. Consequently, effective contract management has become a critical factor in ensuring the success of oil and gas projects. Projects undertaken by contractors are often exposed to various risks that can hinder project performance, cause financial instability, and lead to disputes, impacting all parties involved. Furthermore, many industrial practitioners overlook this issue and are unaware of the potential serious consequences. Hence, the primary objective of this study is to establish a theoretical framework for best practices in contract management for oil and gas contractors in Malaysia. A survey was conducted using questionnaires and a quantitative correlational research approach that employed a multistage cluster sampling method, targeting Malaysia’s oil and gas contractors. The study aimed to gauge the respondents' level of understanding and assess the effectiveness of their current contract management approaches. The collected data underwent analysis through descriptive methods, Pearson's correlation coefficient, and theoretical integration. The goal was to develop a novel framework comprising six core modules: staff accountability and Key Performance Indicators (KPIs), risk management, tender and award processes, cost management, contract awareness and review, and contractual record-keeping. This framework equipped oil and gas contractors with the tools and practices necessary to navigate the global crisis. The oil and gas sector, particularly contractors, stands to gain substantial benefits from the framework introduced in this study. It is a valuable resource that contractors can leverage to enhance their methodologies, procedures, and contract management tools, enabling them to operate effectively amid the persisting global challenges.

Application of locally made nonmagnetic steel in the Russian oil and gas sector

Application of locally made nonmagnetic steel in the Russian oil and gas sector

Illicit Financial Flows and the Petroleum Sector in Cameroon: Hitches and Policy Considerations

Cameroon depends to a large extent on the extraction of petroleum resources for their exports and tax revenue. However, this sector has been prone to generate illicit financial outflows over the years, causing the State to lose billions of dollars to this activity. In 2019, it was estimated that Cameroon lost over 7 billion US dollars which was approximately 4,200 billion XAF to IFFs. The loss was attributed to multinational companies operating in the oil, mining and gas sector in Cameroon. This study therefore aims at examining how the regulatory frameworks in the petroleum sector have been able to curtail the rise of IFFs in this sector. The paper also sheds light on the role of transparency in curtailing illicit financial flows, the catalysts of IFFs, the effects of and the hitches faced in curtailing IFFs in petroleum sector in Cameroon. The study underscores the fact that though the Cameroonian government has made laudable efforts through enactment of laws and putting in place regulatory structures to curtail this activity, lack of transparency, limited State participation in petroleum contractual arrangements, corruption, weak regulatory frameworks, tax evasion, trade mispricing and tax heavens remained the principal hitches to IFFs. Based on these findings, this study recommends strengthening of transparency mechanisms for oil licenses and contract awards, increased in State participation in oil contractual arrangements, citizen’s inclusivity during the negotiation processes and signing of oil contracts, regular publication of oil data and revenue to the public amongst others.