• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.523-531
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• 2021

Vietnam's Oil and gas industry make a significant contribution to the Gross Domestic Product of Vietnam. The ongoing COVID-19 pandemic has hit every industry hard, but perhaps the one industry which has taken the biggest hit is the global oil and gas industry. The purpose of this article is to examine how the COVID-19 pandemic affects the share price of the Vietnam Oil and Gas industry. The event study method applied to Oil and Gas industry index data around three event days includes: (i) The date Vietnam recognized the first patient to be COVID-19 positive was January 23, 2020; (ii) The second outbreak of COVID-19 infection in the community began on March 6, 2020; (iii) The date (30/3/2020) when Vietnam announced the COVID-19 epidemic in the whole territory. This study found that the share price of the Vietnam Oil and Gas industry responded positively after the event (iii) which is manifested by the cumulative abnormal return of CAR (0; 3] = 3.8% and statistically significant at 5 %. In the study, event (ii) has the most negative and strong impact on Oil and Gas stock prices. Events (i) favor negative effects, events (iii) favor positive effects, but abnormal return change sign quickly from positive to negative after the event date and statistically significant shows the change on investors' psychology.

• International Journal of Advanced Culture Technology
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• v.12 no.3
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• pp.140-147
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• 2024

Oil and gas industry is a unique sector with complex activities, long supply chains and strict rules for the business. It is important to use enterprise resource planning (ERP) systems to address these challenges as it helps in simplifying operations, improving efficiency and facilitating evidence-based decision making. Nonetheless, successful integration of ERP systems in this industry involves careful planning, customization and alignment with specific business processes including regulatory requirements. Several critical factors, such as strong change management, support of top managers and training that works have been identified in the study. Amongst the hurdles are employee resistance towards the changes, data migration complications and integration with existing systems. Nonetheless, NOCL's ERP implementation resulted in significant improvements in operating efficiency, better data visibility and compliance management. It also led to a decrease in financial reporting timeframes, more accurate inventory tracking and improved decision-making capabilities. The study provides useful insights on how to optimize oil and gas sector ERP implementations; key among them is practical advice including strengthening change management strategies, prioritizing data security and collaborating with ERP vendors. The research highlights the importance of tailoring ERP solutions to specific industry needs as well as emphasizes the strategic role of ongoing monitoring/feedback for future benefits sustainability.

• Journal of the Korean Society of Industry Convergence
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• v.23 no.6_2
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• pp.1007-1014
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• 2020

IMO(International Maritime Organization) continues to strengthen environmental regulations on exhaust gases such as CO2, NOx, SOx. As for sulfur oxides, from 1 January 2020, all ships on international voyages must use fuel with a sulfur content of 0.5% or less. Or, it is obligatory to use an exhaust gas treatment device that has the same effect. Shipping companies are using low-sulfur oil, replacing them with LNG fuel, or installing scrubbers that suppress sulfur oxide emissions. In the case of ships using bunker C oil, the load on the engine is lower when entering and departing, so the exhaust gas pressure is lowered and the scrubber cannot be properly utilized. Therefore, diesel oil with low sulfur content is used when entering and leaving the coast. When diesel oil is used, exhaust gas is directly discharged through the control system and piping system, and when bunker C oil is used, sulfur oxides are reduced by scrubbers through other control systems and piping systems to discharge exhaust gas. Accordingly, a company has developed a system called a three-way damper valve that can control exhaust gas emissions while integrating these two control systems and piping systems into one. In this study, the control characteristics of the integrated exhaust gas control system and structural safety against external loads in a high-temperature exhaust gas environment were reviewed.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.987-996
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• 2021

The development of Internet technology can affect firm value through the use of social media by business people. Nowadays, social media affect businesses of all sizes in several different ways. Despite the various benefits obtained by using social media, research at the organizational level and its impact on business performance have not grown as fast as desired. This research aims to examine the effect of social media on oil and gas firms' value. The research sample consists of 9 oil and gas firms listed on the Indonesian Stock Exchange 2013-2018. Social media proxies are firms' social media, other social media mentions, and social media sentiment. Firm value is measured by the market value to assets ratio. Data analysis uses a random-effect regression test. Based on the analysis, the social media account of a firm has a positive effect on firm value. It indicates that social media give advantages for oil and gas firms to give a signal of business prospect, make use of opportunities related to industry alliances, recruit employees globally, and c. On the other hand, the positive sentiment on social media has no effect on oil and gas firms' value.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.599-608
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• 2021

The oil and gas industry is widely known as a vital engine of Vietnam development, stimulating researchers to examine the association of various factors with this industry. The aim of this study is to identify the relationship between different variables affecting profitability of the firms in the oil and gas sector in Vietnam. The total of 203 samples were collected from 29 companies listed on Vietnam Stock Market during a 6-year period from 2012 to 2018. Informed by prior research, this investigation employs financial leverage (FL), government ownership (GOV), dividend payout (DIV), fixed assets to total assets (FA) and exchange rate (EXR) as independent variables, while the profit is described by return-on-assets (ROA). The study results show that there are four factors that have an impact on ROA, namely, leverage, government ownership, dividend, and exchange rate. Whereas leverage and exchange rate have negative influence on ROA, government ownership and dividend payment have a positive effect. The findings of this study suggest that high debt ratio in capital structure and the negative effect of exchange rate on their companies' efficiency can adversely affect the profit of enterprises. Also, plausible extent of government ownership and dividend payment could also be considered to optimize corporate performance.

• Plant Journal
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• v.16 no.1
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• pp.28-33
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• 2020

This study analyzes the requirements for international standardization by studying the approach to international standardization of equipment and bulk materials in the offshore oil & gas industry, and describes the prioritization of standardized equipment and the result of standardization in the first stage. Currently, international standardization activities can be classified into three activities. First, international standardization activities of bulk materials led by three major domestic shipbuilders, second, JIP33 equipment standardization activities led by IOGP, and finally, And standardization activities of UEJIP equipment centered on classification society. This study classifies various international standards applied in the offshore oil & gas industry, and introduces the activities of standardization activities of class-leading equipment and actual application examples.

• International conference on construction engineering and project management
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• 2007.03a
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• pp.249-258
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• 2007

Recently orders of projects in the field of oil and gas plants have increased due to rising oil prices and consumption. The markets of oil and gas plants are expanding into the Middle East area and all over the world. Because the oil and gas markets have a lot of overseas construction operations, competition among advanced companies is more important. However, companies in the period of growth have not had enough competitive powers of license in the design phase. Therefore, they are faced with difficulty of adopting the technology which is maximizing the effect of investments, and scheduling of a long-range plan. In order to achieve adequate technology management and competitive power, this study considers a long-range plan through an analysis of an appropriate introduction and the strategic planning process of technology management.

• Journal of the Korean Society of Industry Convergence
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• v.23 no.6_2
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• pp.1081-1091
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• 2020

The most recent issue of offshore plants that produce oil and gas are the decommissioning engineering of aged or discontinued platforms. There are many platforms that are being dismantled in the United States, Europe, and areas in Southeast Asia. In particular, more than 400 old platforms in Southeast Asia (Indonesia, Malaysia) are preparing to dismantle. They are spread out across Southeast Asia with a water level of 50 meters and small-scale of less than 10,000 tons. However, this offshore plant decommissioning market is a very suitable market for small and medium-sized shipyards in Korea to enter with their established equipment and engineers. Platform decommissioning is conducted according to decommissioning procedures. However, there are some difficulties in market advances as no developed case studies or process models are established on how platform structures and components are to be dismantled and how the dismantled material is to be reused and recycled. Therefore, this study presented domestic and foreign regulations on the reuse and recycling of oil and gas producing offshore plant platforms, case analyses on developed decommissioning engineering, platform reuse and recycling guidelines, and platform and pipeline decommissioning processes and methods.

• Journal of the Korean Institute of Gas
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• v.21 no.2
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• pp.10-19
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• 2017

This paper presents the status and characteristics of oil and gas industry and the guideline for investment of producing asset or petroleum and natural gas rights(PNG rights) in Canada. The Western Canadian Sedimentary Basin(WSCB) consists of around 11 main formations, and petroleum has actively been produced at the Montney, Cardium, Viking and Bakken formation. However, the drilling activity declined to 1,917 in Q1, 2016 from 5,724 in Q1, 2014 and 3,365 in Q1, 2015 which dropped 67% and 43% respectively because of the low oil price since 2014. Also, the price of oil and gas asset decreased 34~47% on reserves and production base, and the PNG rights for development decreased 81~97% based on total bidding price, bidding area and unit bidding price. Therefore, it is very favorable environment for Korean companies entering into the Canadian petroleum business especially in PNG rights acquisition which needs smaller investment compare to asset acquisition and shows sharpest value depreciation.

• Safety and Health at Work
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• v.9 no.1
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• pp.63-70
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• 2018

Background: Psychosocial risk management [Psychosocial Risk Management Approach (PRIMA)] has, through the years, been applied in several organizations in various industries and countries globally. PRIMA principles have also been translated into international frameworks, such as PRIMA-EF (European framework) and the World Health Organization Healthy Workplace Framework. Over the past 10 years, an oil and gas company has put efforts into adopting and implementing international frameworks and standards for psychosocial risk management. More specifically, the company uses a PRIMA. Methods: This study explores available quantitative and qualitative risk data collected through the PRIMA method over the past 8 years in order to explore specific and common psychosocial risks in the petroleum industry. Results: The analyses showed a significant correlation between job resources and symptoms of work-related stress, there was a significant correlation between job demands and symptoms of work-related stress, and there were differences in psychosocial risk factors and symptoms of work-related stress onshore and offshore. The study also offers recommendations on how the results can further be utilized in building a robust system for managing psychosocial risks in the industry. Conclusion: The results from the analyses have provided meaningful and important information about the company-specific psychosocial risk factors and their impact on health and well-being.