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This study examines the relationship between oil price uncertainty (OPU) and corporate inventory investments using a sample of 6,072 USA manufacturing firms from 1992 to 2019.

The author's study employs a panel dataset to examine the relationship between OPU and corporate inventory investments. The author uses several alternative specifications such as fixed effects models, an instrumental variable analysis, an impact threshold for confounding variable (ITCV) analysis, alternative measures, additional control variables and the percent bias analysis to account for endogeneity issues.

Corporate inventory investments decrease in response to high OPU. This decrease in inventory investments happens regardless of firms' expected stockout costs, information environment and reliance on external financing. As a potential mechanism, an uncertainty-induced increase in cash holdings contributes to this reduction in inventory investments. Also, the effect of OPU is non-linear and asymmetric. In response to the volatility of positive (negative) oil price changes, inventory investments decrease (increase) up to a certain point and increase (decrease) after that. Further, uncertainty-induced adjustments in inventory investments positively influence the operating performance of firms.

The author's study adds to the growing literature that examines the impact of OPU on corporate outcomes. Inventory investments directly affect business operations and could better reflect firms' responses to an uncertain environment.

There is evidence in the literature suggesting the usage of performance measurement framework (PMF) has a positive impact on organisational performance. This is in line with resource based view (RBV) theory, which argues attaining competitive advantage through internal resources and capabilities. In this regard, PMF can be viewed as a “resource” that can be explored in enabling organisational performance. This paper is aimed at developing PMF for the oil and gas supply chain (SC) as a resource and strategic capability.

Drawing on RBV theory, a questionnaire survey was designed based on prior literature review and exploratory interview with five SC experts. Following this, the questionnaires were distributed to 550 companies in the UK and 120 companies in Malaysia, which resulted in 15% overall response rate.

This study presents the prevalence of performance measures (PM) for the oil and gas industry based on the level of importance. It also reveals the impact of the usage of PMF on overall organisational performance. In addition, it identifies the challenges in managing SC performance and factors to be considered in choosing PM.

This study identifies the challenges in managing SC performance and establishes distinctive factors to consider when choosing PM in the oil and gas SC.

This study aims to focused on conducting a comprehensive assessment of the technology readiness level (TRL) of Iran’s oil field intelligence compared to other countries with similar oil reservoirs. The ultimate objective is to optimize oil extraction from this field by leveraging intelligent technology. Incorporating intelligent technology in oil fields can significantly simplify operations, especially in challenging-to-access areas and increase oil production, thereby generating higher income and profits for the field owner.

This study evaluates the level of maturity of present oil field technologies from the perspective of an intelligent oil field by using criteria for measuring the readiness of technologies. A questionnaire was designed and distributed to 18 competent oil industry professionals. Using weighted criteria, a mean estimate of oil field technical maturity was derived from the responses of respondents. Researchers evaluated the level of technological readiness for Brunei, Kuwait and Saudi Arabia’s oil fields using scientific studies.

None of the respondents believe that the intelligent oil field in Iran is highly developed and has a TRL 9 readiness level. The bulk of experts believed that intelligent technologies in the Iran oil industry have only reached TRL 2 and 1, or are merely in the transfer phase of fundamental and applied research. Clearly, Brunei, Kuwait and Saudi Arabia have the most developed oil fields in the world. In Iran, academics and executive and contracting firms in the field of intelligent oil fields are working to intelligently develop young oil fields.

This study explores the level of maturity of intelligent technology in one of Iran’s oil fields. It compares it to the level of maturity of intelligent technology in several other intelligent oil fields throughout the globe. Increasing intelligent oil fields TRL enables better reservoir management and causes more profit and oil recovery.

Deployment of health and safety standards in extremely hazardous work environments such as oil and gas sector, is essential to minimise accidents leaving employees permanently or temporarily incapacitated. The purpose of this research, is to understand why there are frequent accidents in case country's oil and gas sector, with a view to recommend solutions to mitigate problems.

Research methodology involved extensive review of the literature to appreciate background, and current research on typical accidents and safety measures taken at oil and gas construction sites to minimise accidents in a middle east country. Interviews, questionnaires and case stidies were deployed to acquire data which highlighted major reasons for accidents occurrence at oil and gas construction sites, and safety tools and techniques that could reduce accident rate if adopted by companies.

Findings, showed that oil and gas construction projects in case country were prone to health and safety related risks, challenges and accidents due to failure to comply with standards and legislation. Construction site teams and shop floor staff were rarely involved in development of safety policies, and some had no understanding of requirements and procedures underpinning safety during operations. Research recommended rapid application/adoption of international standards underpinned by ISO 45000 series and staff training at all levels. Deployment of robots and use of machine learning technology were suggested to implement risky tasks in the sector.

Research was based on rampant accidents occurring in hazardous oil and gas sector in country studied. Enforcement of health and safety standards, and use of modern tools and techniques were recommended to minimise accident rate.

This study aims to investigate the dynamic interplay between the management control system (MCS) and organizational identity (OI) in the Deepwater Horizon incident involving British Petroleum (BP). It examines how the MCS manages challenges, particularly those addressing the embarrassment stemming from identity disparities between external portrayal (frontstage) and internal operations (backstage), with a focus on the often-underestimated influence of the media.

This study builds upon the frameworks developed by Ravasi and Schultz (2006) and Malmi and Brown (2008) to construct a theoretical framework that profoundly investigates the relationship between MCS and OI. The framework developed guided the research design and incorporated a qualitative approach complemented by an illustrative case study. The research data was rigorously gathered from diverse sources, including official BP documents and influential media outlets, with a particular focus on well-established American and British newspapers.

BP’s MCS plays a dual role: it exposes discrepancies in safety, leadership and values, causing embarrassment and identity damage, yet catalyses a sense-making process leading to organizational transformation and shifts in the OI. This transformation influences sense-giving and prompts changes in MCS. The study reveals an intricate interplay in identity management between frontstage audiences (e.g. influential media) and backstage actors (e.g. BP’s senior management). It highlights interdependencies both within and between MCS and OI, emphasizing their roles in interacting within identity management. The longitudinal recovery is intricately tied to mutual political interests between BP and the USA, which are significantly facilitated by the media’s role.

This study acknowledges limitations that point future research opportunities. Interviews could provide a more dynamic understanding of MCS changes and organizational transformations. Investigating the role of leadership, particularly the new chief executive office, and the influence of political versus organizational factors in shaping identity claims is essential. Additionally, the effectiveness and historical context of interdependencies should be quantitatively assessed. Theoretical limitations in the OI and MCS frameworks suggest the need for context-specific categorisations. This research serves as a foundation for further exploration of the intricate dynamics between MCS, OI and organizational responses to crises.

This study offers valuable insights with practical implications for organizations facing identity challenges in the wake of significant incidents. Organizations can better navigate crises by recognizing the multifaceted role of MCS in identity damage and restoration. It underscores the importance of addressing both frontstage and backstage aspects of OI while managing identity discrepancies, thereby enhancing transparency and credibility. Additionally, understanding the intricate interdependencies within OI and MCS can guide organizations in implementing more effective identity restoration strategies. Furthermore, the study highlights the significance of media influence and the need to engage with it strategically during crisis management.

This study’s findings have significant social implications for organizations and the broader public. By recognizing the multifaceted role of MCS in shaping identity, organizations can enhance transparency and credibility, rebuilding trust with the public. Additionally, the study highlights the critical role of media in influencing perceptions and decision-making during crises, emphasizing the importance of responsible and ethical reporting. Understanding the intricate interplay between MCS and OI can inform better crisis management strategies and improve how organizations respond to and recover from incidents, ultimately benefiting society by promoting more accountable and responsible corporate behaviour.

This study’s distinctness lies in its innovative exploration of MCS, which transcends traditional methodologies that focus narrowly on front or backstage aspects of OI and often adhere to predetermined MCS practices. It underscores the importance of concurrently addressing both the front- and backstage audiences in managing the embarrassment caused by identity discrepancies and restoration. The research uncovers multifaceted interdependencies within MCS and OI, and these extend beyond simplistic relationships and emphasize the complex nature of identity restoration management.

On May 27, 2020, a blowout occurred in Well No. 5 at Baghjan (Assam); the well, owned by Oil India Ltd., caught fire on June 9, 2020. For almost five and a half months, the company tried to douse the 200-foot high flame but failed to do so. Finally, on Day 173, Oil India Ltd succeeded in capping the well. Biswajit Roy, Director (Human Resources and Business Development), was tasked with investigating the nature and cause of the crisis. Roy pondered on the nature of the crisis: Had it been purely technical or stakeholder-induced? What had led to the chaotic condition? Could things have been done differently?

Globally, the oil and gas (OG) industries are under pressure from numerous stakeholders for their sustainable operations against the backdrop of climate change, ecological damage and social challenges. Drawing on the twin theoretical frameworks of the institutional theory and dynamic capability perspective, this study aims to examine the impact of the institutional pressures and dynamic capabilities on the overall sustainability performance of OG industry.

This study uses survey method to analyze the responses from 275 middle management professionals of OG industry in India using partial least squares structural equation modeling. Further, focused group discussions with the select industry leaders validate the empirical findings of this study.

The research reveals that both institutional pressures and firm’s dynamic capabilities have significant positive impact on its economic and environmental performances in OG sector in India. However, they do not have any impact on social performance, unlike earlier findings.

The main limitation of the study is generalizability of the findings, given the cross-sectional design of the study.

Insights of this study will help regulators and policymakers in formulating effective regulatory and policy frameworks, besides creating awareness amongst the organizations to simultaneously focus on all the three aspects of sustainability performance.

The research has bearing on policy formulation and creating a regulatory ecosystem to ensure overall sustainability performance of OG industry in India.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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).

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.

The study aims to determine the the optimal value of output parameters of a variable compression ratio (CR) diesel engine are investigated at different loads, CR and fuel modes of operation experimentally. The output parameters of a variable compression ratio (CR) diesel engine are investigated at different loads, CR and fuel modes of operation experimentally. The performance parameters like brake thermal efficiency (BTE) and brake specific energy consumption (BSEC), whereas CO emission, HC emission, CO₂ emission, NO_x emission, exhaust gas temperature (EGT) and opacity are the emission parameters measured during the test. Tests are conducted for 2, 6 and 10 kg of load, 16.5 and 17.5 of CR.

In this investigation, the first engine was fueled with 100% diesel and 100% Calophyllum inophyllum oil in single-fuel mode. Then Calophyllum inophyllum oil with producer gas was fed to the engine. Calophyllum inophyllum oil offers lower BTE, CO and HC emissions, opacity and higher EGT, BSEC, CO₂ emission and NO_x emissions compared to diesel fuel in both fuel modes of operation observed. The performance optimization using the Taguchi approach is carried out to determine the optimal input parameters for maximum performance and minimum emissions for the test engine. The optimized value of the input parameters is then fed into the prediction techniques, such as the artificial neural network (ANN).

From multiple response optimization, the minimum emissions of 0.58% of CO, 42% of HC, 191 ppm NO_x and maximum BTE of 21.56% for 16.5 CR, 10 kg load and dual fuel mode of operation are determined. Based on generated errors, the ANN is also ranked for precision. The proposed ANN model provides better prediction with minimum experimental data sets. The values of the R² correlation coefficient are 1, 0.95552, 0.94367 and 0.97789 for training, validation, testing and all, respectively. The said biodiesel may be used as a substitute for conventional diesel fuel.

The blend of Calophyllum inophyllum oil-producer gas is used to run the diesel engine. Performance and emission analysis has been carried out, compared, optimized and validated.