Search Results (20)

In a dynamic global market, platinum-group metals (PGMs), particularly palladium, are in high demand across various industries due to their unique properties. Palladium plays a crucial role in environmentally friendly technologies, such as catalytic converters, which mitigate harmful automotive emissions. Additionally, it is essential for clean energy production, particularly in hydrogen generation, which makes palladium a critical resource for building a sustainable and secure supply chain. This study evaluates the prospects of the palladium market through strategic analysis, focusing on the Russian mining and metals company PJSC MMC Norilsk Nickel. The research employs strategic and industry analysis methods to examine palladium production, market dynamics, and technological advancements, as well as emerging applications in the context of a green economy. The article analyzes the economics of palladium production, including price volatility driven by stringent environmental regulations and the rising adoption of electric vehicles. The palladium market faces challenges such as a constrained resource base, supply disruptions due to sanctions, price instability, and growing demand from key sectors, particularly the automotive industry. Nevertheless, innovation-driven trends offer promising opportunities for market growth, aligning with sustainable development principles and the transition toward a green, low-carbon economy in both established and emerging markets. As a key scientific contribution, this study proposes a modified methodological approach to industry analysis, enabling the assessment of a mining and metals company’s competitive sustainability in the palladium market over the medium and long term. Furthermore, the research models the life cycle of palladium as a commodity, considering evolving market trends and the rapid development of new industries within the green economy. Full article

Drilling-waste management is of great importance in the oil and gas industry due to the substantial volume of multi-component waste generated during the production process. Improper waste handling can pose serious environmental risks, including soil and water contamination and the release of harmful chemicals. Failure to properly manage waste can result in large fines and legal consequences, as well as damage to corporate reputation. Proper drilling-waste management is essential to mitigate these risks and ensure the sustainable and responsible operation of oil and gas projects. It involves the use of advanced technologies and best practices to treat and utilize drilling waste in an environmentally safe and cost-effective manner. This article describes a feasibility study of four drilling-waste management options in the context of the Khanty-Mansi Autonomous Okrug of Russia. For ten years of the project life, the NPV under the base scenario is equal to RUB −3374.3 million, under the first scenario is equal to RUB −1466.7 million, under the second scenario is equal to RUB −1666.8 million and under the third scenario is equal to RUB −792.4 million. When considering projects, regardless of oil production, the project under the third scenario pays off in 7.8 years and the NPV is RUB 7.04 million. The MCD and MCV parameters were calculated to be 106 km and 2290 tons, respectively. Furthermore, the study estimates the ecological damage prevented and the environmental effect of each option. Quantitative risk assessments, conducted through sensitivity analysis, reveal that the fourth option, involving the conversion of drilling waste into construction materials, emerges as the most economically feasible. The study also evaluates the interaction between business and government and analyzes the current situation in the sphere of drilling-waste management, concluding with concise recommendations for both companies and official bodies. Full article

Carbon markets are highly relevant to the need to regulate man-made greenhouse gas emissions. As the world faces the dangerous effects of global warming, reducing greenhouse gas emissions has become a critical priority for governments, corporations and individuals around the world. Carbon markets offer a way to incentivize and encourage emissions reductions and facilitate a smooth transition to a low-carbon economy. Low-carbon development is possible by building transparent and understandable organizational and economic conditions for the operation of carbon regulation. This article considers the feasibility of introducing energy-efficient technologies at Polymetal International PLC enterprises located in Khabarovsk region, engaged in the mining and processing of non-ferrous and precious metals (gold, silver and copper) in light of the country’s growing attention to the regulation of carbon dioxide emissions. The objective of this study is to model the organizational and economic conditions of the carbon market and estimate the economic and climate outcomes from the implementation of energy-efficient technologies at Polymetal International PLC. This study analyzes the current energy-consumption structure of non-ferrous metallurgy enterprises in Russia and identifies potential areas for the use of energy-efficient technologies. An important aspect is the assessment of government policies and incentives that could facilitate the introduction of low-carbon technologies. It is important to assess the impact of prospective carbon-management plans in Russia on the economic performance of steel companies. The results of this study suggest that the introduction of low-carbon technologies has the potential to significantly reduce energy consumption, lower operating costs and reduce carbon dioxide emissions from non-ferrous metal companies in Russia. However, the successful implementation of these technologies will require significant investment, stakeholder cooperation and political support from the Russian government. Full article

The inconsistency of arguments regarding the value of diversification strategies means that there is a lack of a unified methodological approach and a method for evaluating the impact on efficiency and competitive ability of companies. Research shows that diversification was crucially important for oil and gas companies during the economic shocks of 1998, 2009, and 2015. Nowadays, oil and gas companies apply the strategy of green diversification to solve climate change problems and adapt to energy transition trends. The goals of 14 global oil and gas companies with regard to carbon neutrality were analyzed in this study. This research expands the theoretical studies of diversification processes and outcomes in the oil and gas industry and contributes to the discussion of the feasibility of companies implementing renewable energy projects. The factors that prompt oil and gas companies to adopt green diversification were formulated, and their key strategic priorities were determined depending on the volume of proven resources. The research suggests that global shocks in the international energy market and a reduction in the significance of oil and gas resources in the overall power balance stimulate companies to diversify their asset portfolios, but such strategy does not protect against negative impacts. In addition, important issues were identified for further analysis. Full article

The relevance of the study lies in the fact that with the depletion of conventional oil and gas reserves and an increase in the global demand for hydrocarbons, the focus of the industrial sector is gradually shifting towards the resources of the Arctic, which have tremendous potential for development. However, the current industrial policy has to take into account the concept of sustainable development, or harmony between economy, ecology, and society. Therefore, the extraction of raw materials must obey the principles of the circular economy, which aims to generate closed-loop cycles that maximize the use of the resources extracted and minimize waste generation so as not to destroy fragile ecosystems. It is necessary to drill wells for the discovery of a hydrocarbon deposit on the shelf, which entails the generation of a tremendous amount of complex waste., The use of disposal methods for drilling cuttings, which must be disposed of economically and with environmental reliability, is required to solve the problem. This study compares two methods of disposing of drilling waste. Statistical modeling results and a review of the literature show that the most effective method from both economic and environmental points of view is the thermomechanical cleaning of cuttings on site. This article discusses the advantages and disadvantages of both methods. It also evaluates drilling waste management prospects and opportunities for Russian offshore fields. Full article

The resource orientation of the Iraqi economy implies the development of a competitive advantage of the oil industry through the industry’s infrastructure development. The authors’ assumption is that as a result of the transport and production infrastructures’ development of the extraction, processing and transportation of oil and oil products in the conditions of global economic turbulence and the availability of profitable mineral raw materials, domestic demand is restrained by both “inherited” problems and new challenges for the Iraqi oil industry. A review of changes in oil production over time has been carried out. The following problems have been identified: “inherited” problems of the oil industry’s production infrastructure, insufficient capacities and technologies and unbalanced attraction and use of investments. It has been identified that problems vary with different infrastructures. For transport infrastructure, transportation security threats, the insufficient capacity of ports and routes, low level of management and technical implementation are the main problems. New challenges in the oil industry’s infrastructural development are related to the fall in oil prices, the reorientation of supply chains, the “blockage” in world trade due to coronavirus infection and the challenge to expand the use of renewable energy resources to improve the quality of energy supply in terms of resource distribution. The aim of this study is to develop theoretical and methodological bases for the development of infrastructure in the Iraqi oil industry with reference to its background, associated with the turbulent path of the global economy. The substantiation of theoretical provisions and development of practical recommendations to facilitate development of the Iraq oil industry infrastructure are aimed at supporting the development of its infrastructure in view of economic and political instability. Thus, the theoretical and practical significance of the study lies in revealing the features and problems of the Iraq oil industry infrastructure functioning and the development of an algorithm of control for the development of its elements. Full article

In the face of increasing climate concerns and the intensive development of the renewable energy sector, oil and gas companies need to develop strategies to not only comply with the new rules of the game, but to also benefit from them. This study includes prospects for development of the global energy system along with analysis of decarbonization strategies for the largest players in the oil and gas market, and defines conceptual directions to improve strategic planning systems of oil and gas companies in order to ensure sustainability in the context of a global energy transition. The theoretical background of this study is based on the fundamental concepts and methods of strategic planning, as well as modern approaches to strategic planning in the oil and gas industry. This study makes three contributions. First, we maintain that a broad, systematic understanding of the consequences of energy system transformation and defining its role in the new market should be the crucial task of players in the oil and gas industry, and we clarify the opportunities and threats of transitioning to decarbonization. Second, the study results contribute to the development of the design theory of strategic planning systems by improving well-known methods and approaches with reference to global energy transformation. Third, we offer proposals for the development of a climate adaptation strategy using the example of a Russian oil and gas company based on the company’s business capabilities. Full article

Global energy transition trends are reflected not only in oil and gas market dynamics, but also in the development of related sectors. They influence the demand for various types of metals and minerals. It is well-known that clean technologies require far more metals than their counterparts relying on fossil fuels. Nowadays, rare-earth metals (REMs) have become part and parcel of green technologies as they are widely used in wind turbine generators, motors for electric vehicles, and permanent magnet generators, and there are no materials to substitute them. Consequently, growth in demand for this group of metals can be projected in the near future. The topic discussed is particularly relevant for Russia. On the one hand, current trends associated with the global energy transition affect the country’s economy, which largely depends on hydrocarbon exports. On the other hand, Russia possesses huge REM reserves, which may take the country on a low-carbon development path. However, they are not being exploited. The aim of this study is to investigate the prospects for the development of Russia’s rare-earth metal industry in view of the global energy transition. The study is based on an extensive list of references. The methods applied include content analysis, strategic management methods and instruments, as well as planning and forecasting. The article presents a comprehensive analysis of the global energy sector’s development, identifies the relationship between the REM market and modern green technologies, and elaborates the conceptual framework for the development of the REM industry in the context of the latest global tendencies. It also contains a critical analysis of the current trends in the Russian energy sector and the plans to develop the industry of green technologies, forecasts future trends in metal consumption within based on existing plans, and makes conclusions on future prospects for the development of the REM industry in Russia. Full article

Following the principles of sustainable development in the development of oil and gas fields in the Arctic will ensure that hydrocarbon production and transportation operations comply with stringent environmental regulations, the economies of the northern regions become integrated into the national economy of Russia, production systems in the oil and gas sector are upgraded in an innovative manner, and further development of this region is balanced from the environmental perspective. The purpose of the study is to develop and provide a rationale for a balanced system of environmental, socio-economic, and innovative indicators for assessing whether the development of the Arctic’s unique hydrocarbon reserves is sustainable. The theoretical framework of the study draws upon the foundations and key principles of the sustainable development concept and upon modern approaches and methods for assessing the sustainability of production systems. The study presents an analysis of conceptual approaches to defining sustainable development in reference to oil and gas resources, including those found in the Arctic, defines target priorities for the sustainable development of the Arctic’s resource potential, and identifies the relationship between the environmental, socio-economic, and innovative domains of sustainability in the context of Arctic resource development. The results of the study demonstrate how large-scale gas projects can influence regional development and provide for making informed conclusions about whether the development of the Arctic’s oil and gas reserves can be considered sustainable (in accordance with the basic principles of the sustainable development concept). Full article

The changes in climate, which are associated with the emission of anthropogenic greenhouse gases, have been widely discussed by scientists and specialists during the last few decades. The promising way to reduce CO₂ emission is to implement CC(U)S technologies (carbon capture, (utilization) and storage). However, CC(U)S initiatives are challenging that prevent their widespread adoption. The main purpose of the research is to prove that CC(U)S should be considered broader than a way to reduce emission, and such initiatives could lead to various public effects and create long-term “combined value” for the industry and wider society; all of these should be considered when making decisions on CC(U)S implementation. The results of the research are presented by highlighting bi-directional interaction between CC(U)S and society, including public acceptance and public effects; identifying the possible positive and negative impact of CC(U)S initiatives on the public; developing a system of indicators for assessing the public effects of CC(U)S; proposing the framework for a value at stake analysis (VAS) of CC(U)S initiatives in order to reveal and assess their “combined value”. The methodology of this study includes desk studies, decomposition technique, environment (E), health (H) and safety (S) (EHS) approach, classification techniques, and VAS analysis. Full article

The latest technologies for climate change mitigation are carbon capture and storage (CCS). Some countries are developing CCS projects, and they are currently at different stages of deployment. Despite the signing of international agreements on climate change mitigation, Russia’s efforts to develop and implement CCS technologies are quite limited. Therefore, it is vital that people are aware of the importance of carbon dioxide capture, utilization, and storage. The purpose of this article is to produce guidelines and toolkits to form a system of measures aimed at raising awareness of the Russian society on carbon dioxide capture and storage technologies. The paper discusses the key findings of several recent studies on the topic, e.g., a study focusing on the level of environmental consciousness among St. Petersburg students; a content analysis of the Russian school textbooks; a study of environmental groups in Russian social media; and an experimental study on creating eco-comics and posters as educational tools for promoting environmental awareness. A multi-level system of educational activities is proposed, including events for preschoolers, schoolchildren, students, and adults. Full article

As risk and uncertainty factors have become more prominent in the already volatile energy market because of the COVID-19 pandemic, the development of Arctic hydrocarbon resources has become a debatable issue. At any rate, oil and gas companies need to improve their strategic management systems (along with the development of technologies) for the successful implementation of such complex projects. The purpose of this study was to propose the conceptual basis for transforming strategic management and planning systems of oil and gas companies so that they can successfully face global challenges when implementing offshore oil and gas projects in the Arctic as well as provide more sustainable energy sources. The article discusses the current situation with Arctic initiatives and the results of an analysis of price instability in the energy sector, along with an analysis of several megatrends affecting oil and gas companies. All this allows for presenting a conceptual vision of how a strategic management system should be transformed in order to become able to meet the requirements for implementing Arctic projects, with the emphasis being placed on sustainability, management requirements, and the key principles. The research is based on the fundamentals of strategic management and strategic planning and relies on methods such as desk study, content analysis, event analysis, comparative analysis, and factor analysis. Full article

Effective management of the social and economic development of the Arctic zone of the Russian Federation is today a significant scientific and practical task. It requires an integrated approach to meet the expectations of the state, business and society. The main drivers of growth for remote Arctic territories are large investment projects, which not only create production and sectorial results, but also stimulate the development of related sectors of the economy. Additionally, they contribute to the formation of modern infrastructure in the region and create conditions for the broad introduction of innovative technologies. The current problem with territorial development strategic planning is the assessment of the results that have been achieved. This includes approved lists of indicators that do not allow for a full assessment of the impact of the implemented projects. Assessment on the achievement of the region goals is also murky. This indicates a lack of consistency in regional development management. This article defines the importance of the indicators for an assessment of sustainable development management. The model of achieving external effects in project activities is described. The concept of sustainability of large-capacity complexes for the production of liquefied natural gas (LNG) is also formulated. Based on the needs of micro- and macro-environment projects, a list of indicators for assessing the sustainability of LNG projects has been proposed. On the basis of the proposed indicator list, a sustainability analysis of three Arctic LNG projects was carried out. Based on the example of LNG production, it was concluded that approaches to assessing the sustainable socio-economic development of the Arctic region and its industrial systems are interrelated, but there are differences between them. Full article

In the face of today’s global challenges, oil and gas companies must define long-term priorities and opportunities in implementing complex Arctic offshore projects, taking into account environmental, economic, technological and social aspects. In this regard, ensuring strategic sustainability is the basis for long-term development. The aim of the study is to analyze existing approaches to the concept of “strategic sustainability” of an offshore Arctic oil and gas project and to develop a methodological approach to assessing the strategic sustainability of offshore oil and gas projects. In the theoretical part of the study, the approaches to defining strategic sustainability were reviewed, and their classification was completed, and the most appropriate definition of strategic sustainability for an offshore oil and gas project was chosen. The method of hierarchy analysis was used for strategic sustainability assessment. Specific criteria have been proposed to reflect the technical, geological, investment, social and environmental characteristics important to the offshore oil and gas project. The strategic sustainability of 5 offshore oil and gas projects was analyzed using an expert survey as part of the hierarchy analysis method. Recommendations were made on the development of an offshore project management system to facilitate the emergence of new criteria and improve the quality of the strategic sustainability assessment of offshore projects in the Arctic. Full article

The problem of global warming is a key challenge. One means to prevent climate change is to reduce the concentration of carbon dioxide in the atmosphere. This can be achieved using CO₂ capture and storage (CCS) technology. Due to the relative novelty of the technology, low level of experience, and high risk of implementation, in practice society often displays a negative attitude towards CCS projects. Thus, it is necessary to develop a targeted strategy to popularize CO₂ capture and storage technology. Based on an extensive literature review and the experience of implementation of CCS projects in different countries, this study demonstrates the necessity of applying the deficit, contextual, lay expertise, and public participation models to promote CCS technology. As a result, the factors influencing the choice of promotion tools are identified, and the measures to popularize CCS technology, depending on the stage of its implementation, are determined. Recommendations for the improvement of CCS public databases are developed. The methodologies used this study include case studies, system-oriented analysis, and stakeholder management tools. Full article