Methods of Risk Assessment for Formation of an Oil and Gas Company’ Long-Term Strategy

In recent years, the world community has been concerned about addressing one critical issue: how to manage risks effectively in an uncertain environment. For the oil and gas industry, this type of difficulties and problems remains relevant to this day. The oil and gas industry have not yet recovered from the consequences of the global economic crisis, which has affected all types of human activity. Companies in the oil and gas industry were more than exposed to the economic situation in the world, against which risks developed, as well as the methods of assessing them, which we are considering. Problem statement. Virtually all of the risks we have identified are longterm. At the same time, their relative importance during each year will depend on the current state of the economy and market conditions. In fact, the problems faced by oil and gas companies over the past decade remain largely relevant. This proposal particularly highlights and describes the risks associated with global energy policy uncertainty. This is not surprising, as the problem of regulatory uncertainty has been the most pressing for oil and gas companies in recent years. Existing risks should be re-examined to assess their impact not only on the current portfolio of assets, but also on further investment activities of oil and gas companies, as well as to form methods by which these risks can be assessed.