Industry specifics in employment of methods of traditional (conservative) and evolutionary concepts of oil and gas companies crisis management(PPT)

摘要

It is well known that the employment of any crisis management concept is based on the personal preference of the company management, industry specifics of the goods production and distribution, financial health of the company and other factors. It is interesting to analyze not only the methods of traditional conservative concept of crisis management, including cost cutting, recovery of receivables etc., but also the investments of the largest oil and gas companies before the economic crisis and during it. The analysis of investment strategy of capital-intensive oil and gas companies, correlation of the volume of investments with the amount of net profit and dynamics of world prices for oil, demonstrates the relative independence of investments from the prices conjuncture and company profit. It means that the large oil and gas companies use the approaches of evolutionary concept of crisis management, focused on the company development. This policy can speak for the positive stabilization role of energetics during world economic crisis. However, we should mention that because of high capital intensity and long pay-off periods for energy projects, it is impossible to secure rapid substantial grows of supply in the context of growing demand for energy resources, and the considerable increase of prices for energy resources is one of the usual reasons for global economic slowdowns. At various times, world energy crises caused GDP falling in many countries and world economy decline. That is why, in the context of the challenge of new world economic crisis, the commitment of managers of large energy companies to follow the evolutionary concept of crisis management is essential. Thereby, during economic crises it is necessary to promote the work of development institutions (Banks for Development or other organizations established to promote economic growth) on realization of energy projects, to use different forms of private-public partnership (PPP) in order to reduce and share risks during realization of large capital-intensive projects. In particular, availability of production sharing agreements (PSA) and other forms of PPP for large projects helps to increase the long-term anti-crisis stability of oil and gas companies and the government can consider it as the instrument of crisis management, allowing to promote realization of oil and gas projects during periods of economic decline and depression.