The Oil and Gas Industries are Directly Implicated with National Strategies and Global Power - Research Assignment Help

Assignment Task :

General background 

The oil and gas industries are directly implicated with national strategies and global power and require various competencies and skills such as human, political, technical, mechanical and financial (Herkenhoff, 2014). In an environment where nations' interests involved, decision making is significant. As noted by Bhushan et al. (2004), problems where the interests are extremely high and human perceptions and assessments are involved, and whose decisions are for long-term perspectives, the strategic decision making has to be used.

According to the United Nations Environment Program (UNEP), discovering considerable reserves of petroleum and gas creates essential opportunities in terms of the development of the country and organisations socially, economically and politically. On the other hand, they claim that without following specific standards (environmental and safety), the opportunities in this industry can be useless. There is a risk of exploitation which can lead to severe ecological impact (UNEP, 2020). Therefore, strategic decision making within organisations is vital, especially in the oil and gas industry because of the high risks and uncertainties. Herkenhoff (2014) indicates that the internationally owned oil companies (IOCs) make investment decisions based on economic factors, and these companies are also affected by the legislation of the countries in which they operate.

In addition, decision-makers in the energy (oil and gas) industry unable to use easy way reduce the risks and the uncertainties of what is going to happen next and how it affects their organisation, and how they should react to it. As economic and political conditions update; technologies change, the decision-makers try to take control of such uncertainties and minimize the risks by coping with them in several ways (Marcus, 2019).

Research objectives 

The following research objectives will guide the process of this research: ADD reasons

1. Evaluate existing literature on strategic decision making 

2. Analyse the main strategic issues that affect the oil and gas (energy) industry 

3. Evaluate the decisions made by the oil and gas (energy) organisations to address the main strategic issues

4. Identify how organisations made the decisions with consideration of risks and uncertainties

5. Determine the most likely successful strategies for OG industry 

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