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Article
Publication date: 7 March 2024

Mohammed Ali Abd Ali Alsemari and Manu Ramegowda

The oil and gas industry form the main resource of economy in Iraq and constructing any project in such sectors requires a huge amount of expenses due to the unique requirements…

Abstract

Purpose

The oil and gas industry form the main resource of economy in Iraq and constructing any project in such sectors requires a huge amount of expenses due to the unique requirements that oil and gas facilities required in such projects. Therefore, adopting an appropriate technological approach such as building information modeling (BIM) which is unfortunately not adopted yet in Iraq is essential to successfully deliver these projects. Thus, this paper aimed to introduce BIM to Iraq through Basra Oil Company (BOC) which is one of the biggest public oil and gas companies in Iraq.

Design/methodology/approach

The related literature of journals articles, conference proceedings and published reports have been reviewed. As a result, firstly: a hypothesis has been derived that is “If Basra Oil Company (BOC) adopts and applies BIM approach instead of the 2D approach currently used to manage its projects, the company can overcome several constraints in managing its projects that associated with such 2D traditional approach”; secondly: homogenous, consistence and reliable web-based questionnaire has been designed as its Cronbach’s alpha equal to 0.897 and 0.711 for BIM benefits and barriers, respectively. This questionnaire distributed to the BOC related professionals to test such hypothesis by investigating their readiness and accepting of BIM approach and to rank BIM barriers based on five-point Likert scale.

Findings

Based on the analysis using IBM SPSS Statistics 26 of 115 responses, almost 50% of the respondents had experience 11–15 years, while 22.6% had experience more than 15 years in oil and gas industry construction projects. Those participants were from diverse engineering majors that are: 4.3% Architectural Engineers, 31.3% Civil Engineers, 20% Mechanical Engineers, 22.6% Electrical Engineers and 21.7% from other engineering majors. The respondents’ departments demography was 16.5% of design department, 12.2% of construction department, 20.9% of Project Management Department, 12.2% of Maintenance department, 4.3% of HSE Department, 13% of Production Department and 20.9% of “Other Department.” The study resulted in 1: accepting BIM approach to be an alternative of current 2D-traditional approach used by the company to manage and construct its projects, since mean of collected data is (4.4332), Kruskal–Wallis H test significance values were 0.398 and 0.372; and ANOVA test significance values were 0.433 and 0.599 among Engineering Majors groups and Company’s Department groups, respectively. 2: Disclosed and sequenced BIM barriers in the company based on their criticality. 3: verifying reliably how BIM attributes are important to oil and gas construction projects in Iraq, 4: the company top management and company policies are the most critical potential factors to hinder or adopt and implement BIM in the company, 5: while cost is not seen a critical barrier to implement BIM in the oil and gas sector.

Research limitations/implications

The limitation of this study is the excluding of decision makers of BOC, thus more profound future studies need to be conducted where top management and decision makers are involved, particularly the present study demonstrated that support of company top management is the most critical factor which can help the company to adopt (BIM).

Originality/value

The study concludes that BIM approach is valuable for managing projects in oil and gas sector in Iraq and identify the originality in output by using the research method. This noble study provides a leverage for enhanced research to adopt and implement building information modeling (BIM) in Iraq as the study originally demonstrates benefits and identifies the critical barriers in BIM implementation to push the boundaries toward adopt Digitalization and reduce CO2 emission in Iraqi oil and gas sector. The study can be used as evidence and platform to encourage professionals and practitioners to present more sophisticated tools of BIM in the oil and gas industry, especially for facility and operation management. These findings achieved via oil and gas experts, and it is first time to achieve such findings from a case study in Iraqi oil and gas sector.

Details

Smart and Sustainable Built Environment, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2046-6099

Keywords

Article
Publication date: 28 June 2023

Jonas Gamso, Andrew Inkpen and Kannan Ramaswamy

Geopolitical risks associated with the return of great power politics and growing nationalism have generated new challenges for foreign investors across industries. Oil and gas…

445

Abstract

Purpose

Geopolitical risks associated with the return of great power politics and growing nationalism have generated new challenges for foreign investors across industries. Oil and gas companies are well acquainted with such risks and have developed strategies to manage them. This paper reviews five of these strategies: divorcing ownership control from operating control in designing collaborative ventures; proactively managing stakeholder relationships; ensuring transparency and communication; diversifying risks while proactively positioning for emerging opportunities; and deliberately planning for exit should such an eventuality arise. Firms outside of oil and gas can draw on these strategies as they navigate the emerging geopolitical context.

Design/methodology/approach

This paper reviews five strategies that oil and gas companies can use to manage geopolitical risk: divorcing ownership control from operating control in designing collaborative ventures; proactively managing stakeholder relationships; ensuring transparency and communication; diversifying risks while proactively positioning for emerging opportunities; and deliberately planning for exit should such an eventuality arise.

Findings

This study identifies several strategies that oil and gas companies have used to manage geopolitical risks. These tools will be increasingly important in the shifting global political landscape.

Originality/value

Drawing on the experiences of oil and gas companies, this study has identified several strategies that companies can use to shield themselves from the risks that are currently emanating from geopolitics. While these best practices originate in the experiences of oil and gas firms, the ability to deftly manage geopolitical risks is becoming an important prerequisite for companies across industries.

Details

Journal of Business Strategy, vol. 45 no. 3
Type: Research Article
ISSN: 0275-6668

Keywords

Article
Publication date: 29 September 2022

Maria Babar, Habib Ahmad and Imran Yousaf

This study examines the information transmission (return and volatility spillovers) among energy commodities (crude oil, natural gas, Brent oil, heating oil, gasoil, gasoline) and…

Abstract

Purpose

This study examines the information transmission (return and volatility spillovers) among energy commodities (crude oil, natural gas, Brent oil, heating oil, gasoil, gasoline) and Asian stock markets which are net importers of energy (China, India, Indonesia, Malaysia, Korea, Pakistan, Philippines, Taiwan, Thailand).

Design/methodology/approach

The information transmission is investigated by employing the spillover index of Diebold and Yilmaz, using daily data for the period January 2000 to May 2021.

Findings

A Strong connectedness is documented between the two classes of asset, especially during crisis periods. Our findings reveal that most of the energy markets, except gasoil and natural gas, are net transmitters of information, whereas all the stock markets, excluding Indonesia and Korea, are net recipients.

Practical implications

The findings are helpful for portfolio managers and institutional investors allocating funds to various asset classes in times of crisis.

Originality/value

All data is original.

Details

Asia-Pacific Journal of Business Administration, vol. 16 no. 2
Type: Research Article
ISSN: 1757-4323

Keywords

Article
Publication date: 19 April 2023

Dilpreet Kaur Dhillon and Kuldip Kaur

The growth of the Indian economy is accompanied by the rising trend of energy utilisation and its devastating effect on the environment. It is vital to understand the nexus…

Abstract

Purpose

The growth of the Indian economy is accompanied by the rising trend of energy utilisation and its devastating effect on the environment. It is vital to understand the nexus between energy utilisation, climate and environment degradation and growth to devise a constructive policy framework for achieving the goal of sustainable growth. This study aims to analyse the long- and short-run association and direction of association between energy utilisation, carbon emission and growth of the Indian economy in the presence of structural break.

Design/methodology/approach

The study probes the association and direction of association between variables at both aggregate (total energy utilisation, total carbon emission and gross domestic product [GDP]) and disaggregates level (coal utilisation and coal emission, oil utilisation and oil emission, natural gas utilisation and natural gas emission along with GDP) over the time period of 50 years, i.e. 1971–2020. Autoregressive distributed lag model is used to examine the association between the variables and presence of structural break is confirmed with the help of Zivot–Andrews unit root test. To check the direction of association, vector error correction model Granger causality is performed.

Findings

Aggregate carbon emissions are affected positively by aggregate energy consumption and GDP in both short and long run. Bidirectional causality exists between total emissions and GDP, whereas a unidirectional causality runs from energy consumption towards carbon emission and GDP in the long run. At disaggregate level, consumption of coal energy impacts positively, whereas GDP influences coal emission negatively in the long run only. Furthermore, consumption of oil and GDP influences oil emissions positively in the long run. Lastly, natural gas is the energy source that has the fewest emissions in both short and long run.

Originality/value

There is a rapidly growing body of research on the connections and cause-and-effect relationships between energy use, economic growth and carbon emissions, but it has not conclusively proved how important the presence of structural breaks or changes within the economy is in shaping the outcomes of the aforementioned variables, especially when focusing on the Indian economy. By including the impact of structural break on the association between energy use, carbon emission and growth, where energy use and carbon emission are evaluated at both aggregate and disaggregate level, the current study aims to fill this gap in Indian literature.

Details

International Journal of Energy Sector Management, vol. 18 no. 3
Type: Research Article
ISSN: 1750-6220

Keywords

Article
Publication date: 18 September 2023

Hafez Abdo, Freeman Brobbey Owusu and Musa Mangena

The purpose of this study is to provide a harmonisation framework for the diverse accounting practices by extractive industries.

Abstract

Purpose

The purpose of this study is to provide a harmonisation framework for the diverse accounting practices by extractive industries.

Design/methodology/approach

The study takes a three-stage approach. The first involves a comprehensive literature review of the historical evolution of accounting regulations by extractive industries. The second involves constructing an accounting practice index for extractive industries. The third involves constructing a harmonisation framework.

Findings

The accounting practice index provides empirical evidence of the wide diversity of accounting practices by extractive industries. Analysis of the literature review addresses the several attempts by accounting and regulatory bodies to standardise the diverse practices of accounting by extractive industries and reasons for the lack of successful standardisations. The authors extract lessons from these previous attempts and propose a harmonisation framework.

Research limitations/implications

The proposed harmonisation framework can be used to align together the diverse accounting practices by extractive industries and enhance comparability and consistency of accounting figures and statements produced by these industries. Harmonising the diverse accounting practices is crucial for investment decision-making.

Originality/value

The harmonisation framework is the first of its kind that could enhance the comparability of accounts of extractive industries’ firms and be used to harmonise diverse accounting practices by other industries.

Details

Journal of Financial Reporting and Accounting, vol. 22 no. 1
Type: Research Article
ISSN: 1985-2517

Keywords

Article
Publication date: 4 July 2023

Lexis Alexander Tetteh, Cletus Agyenim-Boateng and Samuel Nana Yaw Simpson

The study examines the instigating factors behind the development of the local content (LC) policy in Ghana and it further investigates the accountability mechanisms that drive…

Abstract

Purpose

The study examines the instigating factors behind the development of the local content (LC) policy in Ghana and it further investigates the accountability mechanisms that drive the LC policy implementation to promote sustainable development.

Design/methodology/approach

The study reports on a series of interviews with key actors using Institutional Theory and the application of Bovens’ (2010) Global Accountability Framework as a lens for discussion and interpretation of results.

Findings

The results reveal that two forces instigated LC policy enactment. One is external funding pressure from the Norwegian government and the World Bank. The other is the government’s engagement of Civil Society Organisations and other internal stakeholders to justify its activities and missions to signal adherence to impartiality, neutrality, and, to a lesser extent, solidarity. The analysis also reveals tensions in how accountability legitimacy relates to implementation of the LC policy. The study further discovers that while participation, transparency, monitoring, and evaluation are frequently invoked as de jure institutional legitimacy in oil and gas contracts, actual practices follow normative (de facto) institutionalism rather than what the LC policy law provides.

Research limitations/implications

The interview had a relatively small number of participants, which can be argued to affect the study’s validity. Nevertheless, given the data saturation effect and the breadth of the data obtained from the respondents, this study represents a significant advancement in LC policy enactment knowledge, implementation mechanisms and enforcement in an emerging O&G industry.

Practical implications

The findings of this study suggest that future policy development in emerging economies should involve detailed consultations to increase decision-maker knowledge, process transparency and expectations. This will improve implementation and reduce stakeholder tension, conflict and mistrust.

Originality/value

The findings of this study build on earlier investigations into legitimacy, accountability and impression management in and outside the O&G sector. Also, the findings reveal the legitimising tactics used by O&G actors to promote local content sustainable development targets.

Details

Journal of Applied Accounting Research, vol. 25 no. 2
Type: Research Article
ISSN: 0967-5426

Keywords

Article
Publication date: 28 March 2024

Tarjo Tarjo, Alexander Anggono, Zakik Zakik, Shahrina Md Nordin and Unggul Priyadi

This study aims to empirically examine the influence of Islamic corporate social responsibility (ICSR) on social welfare moderated by financial fraud.

Abstract

Purpose

This study aims to empirically examine the influence of Islamic corporate social responsibility (ICSR) on social welfare moderated by financial fraud.

Design/methodology/approach

The method used was the mix method. The number of respondents was 410. They combined the moderate regression analysis with PROCESS Andrew F Hayes to test the research hypothesis. After conducting the survey, it was continued by conducting interviews with the village community and the head of the village.

Findings

The first finding of this study is that ICSR has a significant positive effect on social welfare. The second finding is that financial fraud weakens the influence of ICSR on social welfare. The results of the interviews also confirmed the two findings of this study.

Research limitations/implications

The high level of bias in answering the questions is due to the low public knowledge of ICSR. In addition, the interviews still needed to involve the oil and gas companies and government.

Practical implications

The main implication is improving social welfare, especially for those affected by offshore oil drilling. Furthermore, stakeholders are more sensitive to the adverse effects of financial fraud. Finally, to make drilling companies more transparent and on target in implementing ICSR.

Originality/value

The main novelty in this research is using of the mixed method. In addition, applying financial fraud as a moderating variable is rarely studied empirically.

Details

Journal of Financial Crime, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1359-0790

Keywords

Article
Publication date: 8 May 2023

Temitope Abraham Ajayi

This study aims to investigate the implications of natural gas rents and institutions as co-drivers of economic growth, focusing on the Gas Exporting Countries Forum (GECF) with…

Abstract

Purpose

This study aims to investigate the implications of natural gas rents and institutions as co-drivers of economic growth, focusing on the Gas Exporting Countries Forum (GECF) with panel data between 2001 and 2021.

Design/methodology/approach

This research paper uses a specialised two stage estimator, the panel instrumental variable technique (panel IV), which takes care of the potential endogeneity issues in the model.

Findings

The findings show that natural gas rent significantly impacts the economic growth of the GECF. On average, natural gas rent increases the sample’s growth rate by about 2.634% percentage points in the short run. The result indicates that the qualities of institutions (political and economic) have a significant positive long-term effect on the economies of the GECF. In addition, the study’s energy price volatility positively correlates with the countries’ growth.

Research limitations/implications

There might be a need to investigate the effects of natural gas rents and institutions as co-growth drivers in each country within the GECF. The likelihood exists that the impact of natural gas rents and institutions on economic growth at the country’s level may differ from the outcome of such an experiment on the group level. Because of space and time limitations, this study could not carry out the specific country’s investigation of natural gas rents and institutions as a co-growth driver. That limitation may constitute further study to advance this study to a new height.

Practical implications

With good institutions, natural gas rent is likely to be an alternative growth driver for some economies that rely on fossil fuels like oil as a growth driver. By extension, the GECF has the potential to rival Organisation of Petroleum Exporting Countries (OPEC) in the global energy market, particularly in achieving Sustainable Development Goal number seven. In essence, evidence in this study suggests that natural gas rent has long-term positive effects on the growth of the GECF, conditioned on good institutions. Moreover, the drive of global energy consumption towards sustainable energy usage is an economic blessing for the GECF. By extension, the demand for natural gas would continue to rise, creating opportunities to improve natural gas rents. By implication, the GECF would continue to benefit from the pursuit of sustainability as the world shifts towards energy consumption with less CO2.

Originality/value

Firstly, this study models the qualities of institutions for the GECF. Secondly, to the best of the author’s knowledge, this study is the first attempt to examine natural gas rents and the qualities of institutions as co-determinants of economic growth among the GECF (a potential cartel).

Details

International Journal of Energy Sector Management, vol. 18 no. 3
Type: Research Article
ISSN: 1750-6220

Keywords

Expert briefing
Publication date: 1 March 2024

Earlier in January, it awarded contracts to increase and sustain output at its main oilfield. Doha wants to dilute its overdependence on a single commodity and to extract value…

Details

DOI: 10.1108/OXAN-DB285576

ISSN: 2633-304X

Keywords

Geographic
Topical
Article
Publication date: 7 March 2024

Karan Raj and Devashish Sharma

The purpose of this study is to construct a new index to assess the impact of an energy price shock on macroeconomic indicators of India. This paper also shows a comparative…

Abstract

Purpose

The purpose of this study is to construct a new index to assess the impact of an energy price shock on macroeconomic indicators of India. This paper also shows a comparative analysis of the constructed index along with pre-existing World Bank and International Monetary Fund indices on energy.

Design/methodology/approach

This paper uses three vector autoregressions and compute the long-term impact of the indices on the considered macroeconomic variables through impulse response functions.

Findings

This paper finds that an energy price shock has a detrimental impact on the macroeconomic indicators of India in the long run. This study also finds that the constructed index acts as a relatively more sensitive index in comparison to the International Monetary Fund and World Bank indices, which is bespoke to a developing economy case. This sensitivity is ascribed to dynamic weighting for a different basket of energy components, which are more pertinent to an Indian context.

Originality/value

The novelty of this research lies in the construction of a new index and its comparison to the existing ones. This study justifies why a developing economy would require a different measure of energy as opposed to the existing indices.

Details

International Journal of Energy Sector Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-6220

Keywords

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