Factors And Challenges Of The Oil And Gas Industry

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Mohammad Tarabzoni 30 October 2014 Factors and Challenges to the Oil and Gas Industry Dr. Saman Aryana Contents Introduction……………………………………………………………………………………....2 Challenges to Oil and Gas Sector……………………………………………………………..2 Worsening Fiscal Terms………………………………………………………………………..3 Conventional Reserves in Challenging Areas………………………………………………..3 Environmental and Health Issues……………………………………………………………..4 Issues Related to Petroleum on Economy…………………………………………………4-5 Bibliography……………………………………………………………………………………...9 Introduction Oil and Gas sector is one of the most important sectors and the backbone of all the economic activities across the world. All other sectors are dependent on the growth and activities in this sector. If there is any disruption in this sector, it can cause severe economic crises across the world economy. In this report, I have tried to discuss the four major challenges that are faced to this sector, provide a summary of these issues and then link their impact on the economy of projects. I have also discussed the effect of these factors of the economy, society and recovery of projects. At the end, I will give possible ways to mitigate the potential negative effects. I will also relate this topic to the economy across the world. The country’s economy depends upon the petroleum and gas industry. If there is any change in the petroleum industry, a significant change can be seen in the country’s economy. Challenges to Oil and Gas Sector The oil and
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