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Analysis and methods of assessment of price risks in oil and gas industry
Akieva Luiza Batarbekovna
Teaching Assistant at the International Institute of Energy Policy and Diplomacy of MGIMO
119454, Russia, Moscow, pr. Vernadskogo, 76
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akieva@rambler.ru
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Abstract. In risk management, it is important to bear in mind the unpredictability of the future. It is undetermined, therefore one can’t stably prognosticate the exchange rates fluctuations, the work of stock markets, credit, operational and other regular events, affecting the finance component of the economy. The contemporary theory offers the methods of risk management in the context of uncertainty; the economy of the past couldn’t offer such opportunities. Today it is possible to identify the risk, to measure it; it helps assess its consequences and minimize or transfer the risk. The paper contains the analysis and generalization of theoretic materials and offers the single set of price risk management methods with account for the specificity of oil and gas industry. The author actualizes the methods of price risks management, defines the complex character of the contemporary pricing environment and assesses the lack of universal methods of price risks identification. The author characterizes each of the described risk assessment methods and enumerates the possibilities of their application in the work of companies.
Keywords:
analysis, oil market, volatility , risk zone, prognostication, pricing environment, risk assessment, risk management, price risk, oil and gas industry
DOI: 10.7256/2453-8892.2016.1.21161
Article was received:
26-11-2016
Review date:
23-11-2016
Publish date:
16-01-2017
This article written in Russian. You can find full text of article in Russian
here
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