فهرست مطالب

Petroleum Business Review - Volume:2 Issue:2, 2019
  • Volume:2 Issue:2, 2019
  • تاریخ انتشار: 1398/04/22
  • تعداد عناوین: 6
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  • Seyed Mohammad Javadi *, Ali Mohammad Ghanbari, Arsalan Anisi Pages 2-13

    The purpose of this study is to evaluate the financial performance of 31provincial gas distribution companies as the affiliates of National IranianGas Company (NIGC). To this end, we identified financial performanceindicators in accordance with the requirements of NIGC through a reviewof theoretical foundations and interviews with a number of financial andplanning experts and then prioritized them using the analytical hierarchyprocess (AHP) method. These indicators lied in four groups of liquidity,capital structure, profitability, and activity criteria. Then, the weightedindicators were analyzed using TOPSIS technique and with help of theExpert-Choice (EC) software, and the final ranking of the companieswas provided. The results showed that, based on the identified criteria,provincial gas companies of Hormozgan, Yazd, Markazi, and Kermanshahhad a favorable financial performance and Ilam, Mazandaran, Chaharmahaland Bakhtiari, and Zanjan provincial gas companies had a weak financialperformance with respect to the other companies in the three years reviewed.Finally, some suggestions have been made in this regard.

    Keywords: evaluation, Financial indicators, AHP, TOPSIS, liquidity, NATIONAl IRANIAN GAS COMPANY (NIGC)
  • Ahmad Mousaei * Pages 14-27

    Latecomer players in oil, gas, and petrochemical industries should betechnology holder in order to be competitive, and, in this context, catchingup is mandatory for technological development.In this work, we have attempted to develop a process model for technologytransfer in oil, gas, and petrochemical industries, which includes threestages of "decision making, technology transfer, and knowledge acquisition.The model is derived from the literature survey and developed based on theexperiences while necessary elements are added to resolve the problems. Soas to validate the model, demercaptanization distillate (DMD) technologytransfer at Research Institute of Petroleum Industry (RIPI) was evaluated asa case study.

    Keywords: strategy, Decision Making, Technology Package, Technology Transfer, Catching up
  • Najmeh Rajabdorri, Abbas Alimoradi * Pages 28-37

    Although it is generally accepted that information asymmetry has an impacton capital structure policy, the nature of the information asymmetry is notwell understood. Recent theoretical works and empirical evidences suggestthat financing choice depends upon the information asymmetry of theinvestment risk of using funds (Halov & Heider, 2012) (Rao, Mohanty, &Baxamusa, 2015). Consistent with this view, we analyzed the data gatheredamong 199 companies listed in Tehran Stock Exchange during 2009-2016 bythe multiple linear regressions in order to check that the research hypotheseshave been applied. We examined the influence of petrochemical industry onthat relationship. The findings show that equity is used to fund projects witha greater information asymmetry of their risk such as intangible assets, whiledebt is used to fund investments with a lower information asymmetry of theirrisk such as capital expenditure and liquidity enhancement. We found out thatthe membership of petrochemical industry has no effect on the intangibleassets, but, concerning the capital expenditure and working capital, the impactis significantly negative; the impact is significantly positive about cash holding.

    Keywords: Information Asymmetry, Capita l Structure Policy, Petrochemical industry, Multiple regressions
  • Mohammad Ali Motafakker Aazad *, Reza Ranjpour, Mohsen Pourebadolahan, Mehdi Asali, Seied Taher Partovi Alanagh Pages 38-51

    Currently, the distribution of various types of petroleum products is performedexclusively by the government. The high price of land in metropolitan citiesand the lack of incentive for the private sector to invest in the construction offilling stations due to their low-income have caused filling stations not to besufficiently available. One of the solutions to overcoming this obstacle is to usethe ability of the private sector for the distribution of petroleum products. Toreduce the government’s ownership, the market structure for petroleum productsdistribution in the country needs to be changed. This change should be firstlydone gradually and step by step, and, secondly, the government has to monitorthis issue at various stages. In this study, three stages are proposed for the marketrestructuring of the distribution of petroleum products in the country, and theconditions and requirements for each stage are separately identified.For the private fuel distributing companies, the most important problem is theeconomic issue of profitibility. On the other hand, since the product price is stillsubsidized in the country, it is indispensable that the amount of commissionfee should be determined in such a way that the activity of private companiesis economically justified. In this study, the amount of product commissionfee is calculated concerning capital and operatational expenditures using theengineering economics method in different situations by employing COMFARversion 3 software. With regard to the various land prices in different places, theresults of calculations show that the amount of gasoline commission fee variesfrom 6 to 12% of the current price of this product; the commission fee variesbetween 20 and 40% for gas oil.

    Keywords: Petroleum Products, Economic Eva luation, Commision Fee, Filling Station, Restructuring
  • Masoume Amidi *, Gholamreza Hashemzadeh, AliAkbar Alizadeh Pages 52-59

    Knowledge management (KM) has been considered as an importantcompetitive advantage for all kinds of organizations, includingenergy sector. Executing research and development (R&D) projectsof energy industry (RDEI) will create, share, and reuse a hugeamount of knowledge, and few organizations know how to manageit effectively. Thus, finding a customized KM pattern which matchesspecific factors of the RDEI is a major concern of managers. Thispaper aims to present a customized KM pattern for the R&Dprojects of the studied sector considering project-based organizationcharacteristics by using grounded theory. Needed information isgathered by semi-structured interviews with experts. By using open,axial, and selective coding, the components of the final model andtheir relations are found. The results showed 48 open codes, 15main concept, and 5 secondary concepts which are all formed in“causal situations”, “intervention situations”, “strategies”, “pivotphenomena” and “effects”.

    Keywords: KM Model, Grounded theory, R & D Research Projects, Energy Industry
  • Mohammad Reza Shokouhi *, Mohsen Behesh, Kamran Fatahi, Abdolsamad Rahmati Pages 60-67

    As projects increase in size and complexity, they become more difficult tohandle; one of these large and complex projects is oil and gas projects. Thecurrent controlling processes of projects are not able to detect the problemsin early phases of the project and are rather delayed, which leads to extratime and cost. One solution is to find the symptoms of problems in the earlyphases. Due to the importance of drilling projects in upstream sector, themain objective of this research is to identify the early warning symptomsof problems in drilling projects and to find the relationships between theselected early warnings and the outcomes and problems of these projects. Tothis end, the early warnings have been recognized through literature reviewand interviews with experts. Then, a case study analysis is performed tofind the relationships between early warnings and project outcomes. Allthe cases have been selected from previously completed drilling projectsin one of the oil fields of Iran. The findings show that there is a relationshipbetween early warnings, project outcomes, and project problems.

    Keywords: Early Warning, Drilling Projects, Project Outcomes, Project Problems, Case Study Introduction