Experience in risk management at oil and gas companies
Abstract
Oil and gas activities involve many risks, from geological, technical, production and geopolitical risks to oil price fluctuations. In addition to that, oil and gas companies are also influenced by underlying factors such as finance, market, human resources, technology and management system. They, therefore, are particularly interested in building a risk management system and developing permanent control measures and timely risk response scenarios. This paper introduces the main risks to be managed and the response measures applied by oil and gas companies in the world, thereby making recommendations on risk management solutions to the Vietnam Oil and Gas Group.
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