METHODICAL ASPECTS OF ASSESSING POTENTIAL AREAS OF BUSINESS RISKS OF ENTERPRISES IN THE OIL AND GAS INDUSTRY OF UKRAINE

Olha Komelina; Svetlana Shcherbinina; Vitalii Krainiev

doi:10.32782/bsnau.2022.2.2

Olha Komelina National University “Yuri Kondratyuk Poltava Polytechnic” https://orcid.org/0000-0001-9297-4985
Svetlana Shcherbinina National University “Yuri Kondratyuk Poltava Polytechnic” https://orcid.org/0000-0002-1034-3619
Vitalii Krainiev National University “Yuri Kondratyuk Poltava Polytechnic” https://orcid.org/0000-0002-8961-9058

DOI: https://doi.org/10.32782/bsnau.2022.2.2

Keywords: oil and gas production enterprises, risk, entrepreneurial risk, risk zones, risk criteria, probability

Abstract

The evaluation of the management efficiency of oil and gas industry enterprises requires the study of the probability of occurrence of risk situations that may threaten their economic activity. Taking risk into account in the process of making managerial decisions reduces the probability of underpayment (loss) of income or profit, occurrence of a crisis situation or bankruptcy of the enterprise. Determination of risk limits, in turn, makes it possible to differentiate identified risks into acceptable, critical and catastrophic, and risk management is the lever with which enterprises have the opportunity to influence the results of their own economic activity. The article is aimed at researching the trend of the series of dynamics of financial and economic indicators of oil and gas industry enterprises using methods of quantitative assessments of the degree of risk. The problems of functioning and development of oil and gas production enterprises of Ukraine are considered. Two enterprises of the oil and gas industry of Ukraine were chosen for the study, which differ in the form of ownership, production capacities and specifics of economic development in the national market of primary sale of natural gas. The efficiency of the management of the state-owned enterprise Joint Stock Company “Ukrgazvydobuvannia” and the Privat Joint Stock Company “Naftogazvydobuvannia” was compared in terms of the profitability of production assets, current assets and equity. Three potential zones of business risks (acceptable, critical, catastrophic) for the resource base and financial results of the enterprises are defined. Based on the results of the research presents the threshold values of the risk zones of the financial and economic indicators of JSC “Ukrgazvydobuvannia” and PJSC “Naftogazvydobuvannia”. The probability of JSC "Ukrgazvydobuvannya" and PrJSC "Naftogazvydobuvannya" falling into potential areas of entrepreneurial risk under different scenarios of the development of the political and economic situation in Ukraine and, accordingly, different risk criteria, was determined.

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