Information Support of Value-Based Management of Oil and Gas Enterprises

Authors

DOI:

https://doi.org/10.15407/scine20.04.070

Keywords:

information support, value-based management, oil and gas enterprises, forecasting, modeling

Abstract

Introduction. In the context of the current energy transition challenges, the management system of oil and gas enterprises requires eff ective information support. Predictive modeling is a key tool for developing value-based strategies aimed at the effective development of oil and gas enterprises in the new energy realities.
Problem Statement. Insufficient information support limits the potential for effective value-based management of oil and gas companies. The use of predictive modeling helps to predict changes in production output to improve strategic planning and to make decisions with proper awareness.
Purpose. To find out the possibilities of using predictive modeling as a tool to provide an information base for value-based management of oil and gas enterprises.
Materials and Methods. The study has been based on materials of the State Statistics Service of Ukraine. The methods include analysis, synthesis, analogy, modeling, abstraction, and specifi cation. The software products Statistics 12 and STELLA have been employed for data processing.
Results. It has been established that the use of predictive modeling tools makes it possible to improve information support of value-based management at oil and gas enterprises. The regression analysis has shown that the number of employees, the number of operating business entities, and the personnel costs have the greatest influence on the growth of sales of oil and gas enterprises.
Conclusions. Thus, the study has shown the importance of predictive modeling to improve the efficiency of value-based management of oil and gas enterprises, to formulate effective strategies for their development in the context of the energy transition, to provide information support, and to increase their ability to adapt and innovate in a dynamic external environment.

Downloads

Download data is not yet available.

References

Dmytruk, V., Humeniuk, V. (2022). The genesis of value based management: interdisciplinary and sectorial as pects. Economic Theory and Law, 1(48), 29—43. https://doi.org/10.31359/2411-5584-2022-48-1-29

Dmytruk, V. (2023). Value paradigm of post-war stabilization and development of oil and gas production enterprises: experience of European countries. International historical experience of postwar economic reconstruction: lessons for Ukraine. Materials of the international scientifi c and practical conference. State Organization “Institute for Economics and Forecasting of the National Academy of Sciences of Ukraine”, Institute of Higher Education of the National Aca demy of E ducational Sciences of Ukraine. Kyiv. URL: http://ief.org.ua/wp-content/uploads/2023/05/Mizhnar-istor-dosvid-povojenreconstrukcii-uroky-dla-Ukrainy.pdf (Last accessed: 07.03.2024).

Venkataraman, R., Pinto, J. (2023). Cost and Value Management in Projects. John Wiley & Sons. URL: https://search. worldcat.org/title/1355827722 (Last accessed: 07.03.2024). https://doi.org/10.1002/9781394207190

Ebrahimi, S., Bagheri, E. (2022). Optimizing profi t and reliability using a bi-objective mathematical model for oil and gas supply chain under disruption risks. Computers & Industrial Engineering, 163, 107849. https://doi.org/10.1016/j.cie.2021.107849

Ricardiantoa, P., Baratab, F., Mardiyania, S., Setiawana, E., Subagyoa, H., Saribanona, E., Endri, E. (2022). Supply chain management evaluation in the oil and industry natural gas using SCOR model. Uncertain Supply Chain Management, 10(3), 797—806. https://doi.org/10.5267/j.uscm.2022.4.001

Lin, X., Mazlan, A., Ismail, S., Hu, L., Kasiman, E., Yahya, K. (2022). Status of value management studies in construction projects: A systematic review. Ain Shams Engineering Journal, 101820. https://doi.org/10.1016/j.asej.2022.101820

Woodwell, J. (2020). Dynamic Modeling of Ecological-Economic Systems. United States Agency for International Development. Washington D.C. URL: https://pdf.usaid.gov/pdf_docs/Pnacs169.pdf (Last accessed: 07.03.2024).

Costanza, R., Voinov, A. (2001). Modeling ecological and economic systems with STELLA: Part III. Ecological Modelling, 143(1—2), 1—7. https://doi.org/10.1016/s0304-3800(01)00358-1

Horng, J., Lee, R., Liao, K. (2004). Using STELLA System Dynamic Model to Analyze Greenhouse Gases Emission from Solid Waste Management in Taiwan. OSTI.GOV.U.S. Department of Energy Offi ce of Scientifi c and Technical Information. URL: https://www.osti.gov/biblio/826141 (Last accessed: 07.03.2024).

Dias De Oliveira, M. E., Vaughan, B. E., Rykiel, E. J. (2005). Ethanol as Fuel: Energy, Carbon Dioxide Balances, and Ecological Footprint. BioScience, 55(7), 593—602. https://doi.org/10.1641/0006-3568(2005)055[0593:EAFECD]2.0.CO;2

Feng, Y., Chen S., Zhang, L. (2013). System dynamics modeling for urban energy consumption and CO2 emissions: A case study of Beij ing, China. Ecological Modelling, 252, 44—52. https://doi.org/10.1016/j.ecolmodel.2012.09.008

Levandivskyi, O., Shpykuliak, O., Balaniuk, I., Svynous, I., Shelenko, D. (2022). Modeling of Added Value as a Financial Indicator of Activity. Management Theory and Studies for Rural Business and Infrastructure Development, 44(3), 288—301. https://doi.org/10.15544/mts.2022.30

Shelenko, D., Balaniuk, I., Sas, L., Malik, M., Matkovskyi, P., Levandivskyi, O., Humeniuk, М. (2021). Forecasting of net profi t and and the area of land of private enterprises. Management Theory and Studies for Rural Business and Infrastructure Development, 43(4), 500—516. https://doi.org/10.15544/mts.2021.45 eISSN 2345-0355

Balaniuk, I., Shelenko, D., Balaniuk, S., Kozak-Balaniuk, I. (2019). Forecasting of gross agricultural output of agrarian enterprises of Ukraine: case study with STELLA software. Economic Studies, 28, 148—163. https://ejournals.vdu.lt/ index.php/mtsrbid/article/view/2597

Economic statistics. Performance indicators of economic entities (2023). Offi cial website of the State Statistics Service of Ukraine. URL: https://ukrstat.gov.ua/operativ/menu/menu_u/sze_20.htm (Last accessed: 07.03.2024).

Sokolovska, Z. (2018). Modeling of market strategies of enterprises under conditions of uncertainty. Problems of economy, 1(35), 368—377. URL: http://nbuv.gov.ua/UJRN/Pekon_2018_1_50 (Last accessed: 07.03.2024).

Downloads

Published

2024-07-02

How to Cite

CHUDYK, I., DMYTRUK, V., HUMENIUK, V., POLIANSKA, A., & ZAPUCHLIAK, I. (2024). Information Support of Value-Based Management of Oil and Gas Enterprises. Science and Innovation, 20(4), 70–80. https://doi.org/10.15407/scine20.04.070

Issue

Section

The Scientific Basis of Innovation