Political–security risk in the oil and gas industry: the impact of terrorism on risk management and mitigation

Lambrechts, Derica; Blomquist, Lars B.

doi:10.1080/13669877.2016.1153502

Cited by 21 publications

(5 citation statements)

References 28 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…The extant contemporary literature has largely focused on the following areas in response to the greater threat of terrorism in the services industries: the transformation of service systems through value creation with information and communication technology (ICT) mechanisms (Skalen, 2015); nexuses between kidnapping, security, insurgency and terrorism in the energy sector (Adusei, 2015), such as the effect of pipeline theft and sabotage (Yeeles & Akporiaye, 2016), terrorists attacks on the energy sector (Tichy & Eichler, 2018) and the impact of terrorism on risk mitigation and management in the oil and gas industry (Lambrechts & Blomquist, 2017); security threats in maritime transportation (Graham, 2015) and terrorism in public transportation (Manelici, 2017); linkages between homicides, exchange rate and retail activity (Fullerton Jr & Walke, 2014) and effects of terrorism on financial market development (Apergis & Apergis, 2016;Arif & Suleman, 2017;Goel et al, 2017).…”

Section: Introductionmentioning

confidence: 99%

Contemporary Drivers of Global Tourism: Evidence From Terrorism and Peace Factors

Asongu

Biekpe

Nnanna³

et al. 2018

SSRN Journal

View full text Add to dashboard Cite

Disclaimer: AFEA Working Papers describe research in progress by the author(s) that has been peerreviewed and forthcoming in scientific outlets. There is a tacit acknowledgement of anonymous referees for constructive suggestions and critiques that have helped improve the content and rigour of the study. Each research stands on its merit and the views expressed in AFEA Working Papers are those of the author(s) and do not necessarily represent the views of the AFEA, its Executive Board, or AFEA management.

show abstract

Section: Introductionmentioning

confidence: 99%

Contemporary Drivers of Global Tourism: Evidence From Terrorism and Peace Factors

Asongu

Biekpe

Nnanna³

et al. 2018

SSRN Journal

View full text Add to dashboard Cite

show abstract

“…Geopolitical risks are especially acute in oil-producing countries. According to Colgan (2013, p. 147), “between one-quarter and one-half of interstate wars since 1973 have been connected to one or more oil-related causal mechanisms.” In addition, terrorism frequently targets oil-producing nations (Tichý, 2019) as well as oil and gas companies themselves (Lambrechts and Blomquist, 2017). Not surprisingly, oil rich countries are often fraught environments for multinational companies to operate within.…”

Section: The Return Of Geopolitical Riskmentioning

confidence: 99%

Managing geopolitical risks: the global oil and gas industry plays a winning game

Gamso

Inkpen

Ramaswamy

2023

JBS

View full text Add to dashboard Cite

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.

show abstract

“…Lee et al (2017) analyze how country risk affects fluctuations in the price of oil, concluding that exporting countries are positively affected by these shocks. Lambrechts and Blomquist (2017) have also deeply reflected on the importance of political-security risk in the oil and gas industry. Narayan (2020) answer the question: can stale oil price news predict stock returns?…”

Section: Literature Reviewmentioning

confidence: 99%

Terrorism and the behavior of oil production and prices in OPEC

Monge

Cristóbal

2021

Resources Policy

View full text Add to dashboard Cite

This paper contributes to the discussion of the role that terrorism plays in oil production and oil prices literature by studying the dynamics of terrorist attacks and oil production in OPEC. To this purpose, we use techniques based on fractional integration, fractional cointegration VAR (FCVAR) and wavelet analysis. Monthly data related to OPEC oil production, OPEC basket crude oil prices and terrorist attacks from January 1970 to December 2018 are used. The results, using fractional integration and cointegration techniques, indicate that the time series analyzed are highly persistent and there are no long-term deviations. Finally, using wavelet analysis, we conclude that the impact of the terrorist attacks in oil production and oil prices are non-significant and has a short-term component, recovering the original trend values between 1 and 10 months after the terrorist shock.

show abstract

Political–security risk in the oil and gas industry: the impact of terrorism on risk management and mitigation

Cited by 21 publications

References 28 publications

Contemporary Drivers of Global Tourism: Evidence From Terrorism and Peace Factors

Contemporary Drivers of Global Tourism: Evidence From Terrorism and Peace Factors

Managing geopolitical risks: the global oil and gas industry plays a winning game

Terrorism and the behavior of oil production and prices in OPEC

Contact Info

Product

Resources

About