Effects of Risk Management

Effects of Risk Management in Oil & Gas Industry

Presented By:

Sandeep Kumar

R020209061

MBA OG IIIrd Sem

Introduction

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.

Contd….

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 decision-making.

Objective

Effects of risk management on oil and gas companies.

To recognize the strategies that has been adopted by the oil and gas companies so far.

To identify the strategies that can be proposed.

Scope

The study will be limited to the risks in oil and gas industry.

The study will be limited to top ten risks in Oil & Gas industry.

For this study online interviews of officials of Oil and Gas Professionals will be carried out through Questionnaire.

Research Methodology

Mix of exploratory & descriptive research

Theoretical framework – explains the model or the set of theories related to the phenomenon being studied.

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.

Literature Review

TOP TEN RISKS IN OIL & GAS INDUSTRY

Uncertain energy policy

Access to reserves: political constraints and competition for proven reserves

Cost containment

Worsening fiscal...