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National Research University Higher School of EconomicsStudent ThesesEnsuring Financial Stability of Oil & Gas Company's Branch under Budget Restrictions

Student
Title
Supervisor
Faculty
Educational Programme
Final Grade
Year of Graduation
Iuliia Galiullina
Ensuring Financial Stability of Oil & Gas Company's Branch under Budget Restrictions
Economics
(Bachelor’s programme)
2017
Oil and gas industry has always been considered to be profitable from the financial perspective. However, there are various difficulties petroleum companies should overcome in order to be able to run their businesses smoothly. Indeed, these difficulties are related to such issues, as financial, ecological, technological, and political.

Major oil and gas companies represent vertically integrated companies, which are characterised by the division of the production process: upstream – oil exploration and extraction, midstream – oil transportation, downstream - oil refining, distribution and sales of the obtained products. Undoubtedly, the difficulties might occur on each stage of production process. Therefore, significant attention must be paid towards each stage.

Despite the fact, that much of research had been done on financial management within oil and gas company, there is still a lack of information concerning the downstream sector and the evaluation of subsidiary`s performance. Following thesis is written in the form of a consulting project. The project`s aim is to draw attention to the importance of examining financial situation of a downstream subsidiary.

The following project is structured into three main parts. The first will look at the literature review on the issues of oil and gas industry, on the features of each sector of oil and gas company, on the subsidiary`s distinct traits and on the financial matrix application practice. The second chapter includes research methodology, which implies conducting financial ratios analysis, determining future financial strategy and downstream market review. The final chapter of the paper indicates recommendations based on the analyses conducted. The list of the recommendations was set according to the limitations and the outcomes of the current financial situation. In case the organization will take into account given recommendations, it will be able to tackle all of the existing difficulties.

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