Effects of Risk Management in Oil & Gas Industry
MBA OG IIIrd Sem
Risk management is:-
The ability of responding to unexpected environmental and market changes.
The ability of recognizing the potential occurrence of extreme conditions.
The ability of understanding the nature of unfortunate events.
The ability of recovering from the disasters efficiently.
In 2007-2008 the Global Risk Network identified trends, issues of concern and risks.
Trends are observable facts in the contemporary world. Issues of concern are potential challenges which arise from those trends.
The risks identified are specific realizations of those challenges in a format which is sufficiently specific to be open to a level of assessment in terms of relative severity and likelihood, without being so specific as to preclude them as a basis for ...view middle of the document...
Sources of data – Primary and secondary data.
Primary- Unstructured interviews
Secondary- Online, Library, Newspapers, Periodicals, Journals, Research Papers.
Sampling – Judgmental sampling that is a non-probability sampling.
TOP TEN RISKS IN OIL & GAS INDUSTRY
Uncertain energy policy
Access to reserves: political constraints and competition for proven reserves
Worsening fiscal terms
Climate and environmental concerns
Human capital deficit
Overlapping service offerings for IOCs and oilfield service companies
New operational challenges, including unfamiliar environments
Source: Ernst & Young http://www.ey.com
Tentative Structure / Chapter outline of the thesis
Table of content
List of tables
List of figures
Chapter 1: Introduction
Chapter 2: Top Ten Risks in Oil & Gas Industry
Chapter 3: Risk management in Enterprise & Government
Chapter 4: Components of Risk Management
Chapter 5: Risk Management of Energy Products
Chapter 6: Effects of Risk Management
Conclusions & Recommendations
Report on “Risks in World 2010 & 2009” World Energy Forum http://www.weforum.org
Top Ten Risks in Oil & Gas Industry 2010 & 2009 Ernst & Young http://www.ey.com
“The enactment of risk categories: Organizing and Re-organizing risk management practices in energy industry” by Susan V. Scott & Nicholas Perry, London School of Economics and Political Science (Archives) http://is.lse.ac.uk
Online Library, University Of Texas www.utexas.edu
“Modeling, Valuation & Risk Management of Assets & Derivatives in Energy & Shipping” by Paul D. Sclavounos, Department of Mechanical Engineering, Massachusetts Institute of Technology
A report on Risk Assessment, British Petroleum http://www.bp.com/bodycopyarticle.do?categoryId=1&contentId=7052055
KPMG report on Oil and Natural Gas Review 2010