BUSINESS UNKNOWNS SHAPE OIL INDUSTRY RISKS

Richard Pane Consultant Tulsa Strategic thinking about an exploration and production program requires a careful assessment of risk, which can be defined as variability in the components of value creation. This article surveys, categorizes, and ranks business risks in the upstream petroleum business. It can serve as a checklist for thinking strategically about an E&P program. While a rigorous definition says that risk is two-sided, most business decisions-and this article-concentrate on the