+7 925 966 4690, 9am6pm (GMT+3), Monday – Friday
ИД «Финансы и кредит»

JOURNALS

  

FOR AUTHORS

  

SUBSCRIBE

    
Economic Analysis: Theory and Practice
 

Assets of the World's Leading Publicly Traded Oil and Gas Corporations

Vol. 21, Iss. 3, MARCH 2022

Received: 24 February 2022

Received in revised form: 1 March 2022

Accepted: 9 March 2022

Available online: 30 March 2022

Subject Heading: BUSINESS PERFORMANCE

JEL Classification: G31, L25, L71, M41, O12

Pages: 522–531

https://doi.org/10.24891/ea.21.3.522

Oleg V. SHIMKO Institute of Economics of Russian Academy of Sciences, Moscow, Russian Federation
shima_ne@mail.ru

https://orcid.org/0000-0002-0779-7097

Subject. The article focuses on assets of twenty five leading public oil and gas companies from 2006 through 2018.
Objectives. The study aims to trace key trends in assets of corporations in the oil and gas industry, identify main changes s within the studied period, establish factors that led to the transformation.
Methods. I employ methods of comparative and financial-economic analysis, summarizing financial reporting data.
Results. The paper determines changes in the value and structure of assets in the stock market sector of the industry and defines the main drivers of the transformation, based on the comprehensive analysis of balance sheets of twenty five oil and gas companies. The findings disclose an increase in the book value of assets in the majority of leading publicly traded oil and gas companies. Large mergers and acquisitions and agreements for new field development also contributed to the increase. I established that the protracted industry crisis resulted in reducing the proportion of current assets in order to release funds for revenue increase. That was why oil and gas companies sought to accelerate the collection of receivables, primarily by means of trade component. Furthermore, I revealed that they channeled a part of funds thus collected to short-term financial investments.
Conclusions. The increase in the book value of assets in the stock market segment of the oil and gas industry is mainly due to the non-current component.

Keywords: non-current and current assets, inventory, receivables, public company, oil and gas industry

References:

  1. Panteleeva Yu.V. [Strategic priorities of Russian oil and gas companies]. Vestnik Kazanskogo tekhnologicheskogo universiteta = Herald of Kazan Technological University, 2014, vol. 17, no. 19, pp. 418–420. URL: Link (In Russ.)
  2. Zainullin S.B., Trachuk O.O. [Improving the management of assets in the oil and gas sector]. Naukovedenie, 2017, vol. 9, no. 1. (In Russ.) URL: Link
  3. Deberdieva E.M. [Transformation of structure of production assets of the companies of oil and gas sector: Prerequisites and factors]. Upravlenie ekonomicheskimi sistemami, 2015, no. 3. (In Russ.) URL: Link
  4. Nazarova V.V. [The impact of sanctions on the economic processes in society (the case of ROSNEFT)]. Vestnik Instituta ekonomiki Rossiiskoi akademii nauk = The Bulletin of Institute of Economics of the Russian Academy of Sciences, 2016, no. 4, pp. 71–85. URL: Link (In Russ.)
  5. Kryukov V.A., Tokarev A.N. [Relationship between Assets and Organizational Structure in the Oil Industry: Regional Aspects]. Ekonomika regiona = Economy of Region, 2018, vol. 14, no. 4, pp. 1076–1087. URL: Link (In Russ.)
  6. Ashikhin V.S. [Study of the factors influencing on the financial stability of the refining industry and methods of enterprise management]. Vestnik Universiteta, 2017, no. 12, pp. 72–78. URL: Link (In Russ.)
  7. Dyusenbaev S.S. [Survivability of Russian oil and gas companies under economic sanctions]. Rossiiskoe predprinimatel'stvo = Russian Journal of Entrepreneurship, 2015, vol. 16, no. 20, pp. 3545–3552. (In Russ.) URL: Link
  8. Chistyakova G.A. [Resource management of the oil and gas enterprise]. Upravlenie ekonomicheskimi sistemami, 2016, no. 11. (In Russ.) URL: Link
  9. Lenkova O.V., Osinovskaya I.V. [External benchmarking performance indicators of Russian oil companies]. Sovremennye problemy nauki i obrazovaniya, 2014, no. 2. (In Russ.) URL: Link
  10. Basiladze G.R. [Comparative analysis of investment attractiveness of PAO LUKOIL, PAO ROSNEFT, PAO GAZPROM]. Gumanitarnye, sotsial'no-ekonomicheskie i obshchestvennye nauki = Humanities, Social-Economic and Social Sciences, 2017, no. 1. URL: Link (In Russ.)
  11. Shchurina S.V., Mikhailova M.V. [Company's financial sustainability: Problems and solutions]. Finansy i kredit = Finance and Credit, 2016, no. 42, pp. 43–60. URL: Link (In Russ.)
  12. Sheveleva A.V. [Solvency Assessment of the Oil and Gas Enterprises for Implementation of the Ecological Programs]. Voprosy regulirovaniya ekonomiki = Journal of Economic Regulation, 2016, vol. 7, no. 1, pp. 63–73. (In Russ.) URL: Link
  13. Gukasyan Z.O. [Rating of Large Oil and Gas Companies as the Basis of Quality Assessment of Corporate Management]. Nauka i biznes: puti razvitiya = Science and Business: Development Ways, 2015, no. 2, pp. 85–91. URL: Link-2015-main.pdf (In Russ.)
  14. Ulanov V.L. [Docking zones of responsibility for achieving development targets of commodity companies]. Zapiski Gornogo instituta = Journal of Mining Institute, 2015, no. 211, pp. 117–121. URL: Link (In Russ.)
  15. Shal'neva V.V., Ovchinnikov R.A. [Liquidity and financial stability assessment of the major oil corporations in the Russian Federation]. Nauchnyi vestnik: finansy, banki, investitsii = Scientific Bulletin: Finance, Banking, Investment, 2015, no. 4, pp. 97–105. URL: Link (In Russ.)
  16. Shimko O.V. Analiz rezul'tatov finansovo-khozyaistvennoi deyatel'nosti vedushchikh publichnykh korporatsii neftegazovoi otrasli posle mirovogo finansovogo krizisa [Analysis of the results of financial and economic activities of leading public corporations in the oil and gas industry after the global financial crisis]. Moscow, Nauka Publ., 2019, 339 p.

View all articles of issue

 

ISSN 2311-8725 (Online)
ISSN 2073-039X (Print)

Journal current issue

Vol. 23, Iss. 3
March 2024

Archive