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Improving Approaches to Strategic Planning of Domestic Oil and Gas Companies on the Basis of Leading Foreign Practices
Mykhaylychenko N. M., Svynarenko T. I.

Mykhaylychenko, Natalya M., and Svynarenko, Tetiana I. (2024) “Improving Approaches to Strategic Planning of Domestic Oil and Gas Companies on the Basis of Leading Foreign Practices.” Business Inform 3:198–203.
https://doi.org/10.32983/2222-4459-2024-3-198-203

Section: Problems of Business

Article is written in Ukrainian
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UDC 338.2

Abstract:
The aim of the article is to improve approaches to strategic planning of activities of domestic oil and gas companies on the basis of studying the leading foreign practices in this area. The article examines approaches to strategic planning based on scenario analysis, which are common in foreign energy companies, on the example of Royal Dutch/Shell Group, which was the first to apply this methodical approach. As a result of the study of the features of strategic planning in oil and gas companies in the world practice, it is found that its basic instrument is scenario analysis, which involves the development of adaptive and flexible strategies based on several alternative scenarios that provide energy companies with sustainable functioning and development in a dynamic and difficult predictable industry. On the basis of the study of foreign experience of strategic planning and modeling of the energy system, the following set of measures to improve the process of strategic planning in the domestic oil and gas sector has been proposed: introduction into the practice of strategic planning of individual elements of scenario analysis according to the methodology of the international energy corporation Royal Dutch/Shell Group; optimization of the regulations of the strategic planning process in domestic oil and gas companies, taking into account the volatility and cyclical nature of the oil and petroleum products market; introduction of key indicators of scenario analysis (demand, supply, price of oil and oil products) and methods of adaptive forecasting into the forecasting practice of domestic oil and gas companies. The implementation of the proposed measures will allow domestic oil and gas companies to improve the strategic planning process, and therefore increase the level of adaptability in conditions of uncertainty and improve their competitive position in both the local and the global energy markets.

Keywords: strategic planning, oil and gas companies, energy companies, scenario analysis, adaptive forecasting, energy system modeling.

Formulae: 3. Bibl.: 9.

Mykhaylychenko Natalya M. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Finance, Banking and Entrepreneurship, Donbass State Academy of Machine Building (56 Ruska Str., Ternopil, 46001, Ukraine)
Email: [email protected]
Svynarenko Tetiana I. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Finance, Banking and Entrepreneurship, Donbass State Academy of Machine Building (56 Ruska Str., Ternopil, 46001, Ukraine)
Email: [email protected]

List of references in article

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