Course description
The oil and gas industry faces many political challenges and risks politically at all levels of the business. Understanding how to strategically manage these risks can make a huge difference in the profitability and success of the business. Undertaking this course in managing political risks will give you a better understanding and the required skills to assess and effectively manage the existing and emerging political risks in the oil and gas sector. You will learn how to develop tactics, plans, and strategies to correctly manage political risks and create a win-win solution for the problem.
Some of the things you will learn in this course include collaborating with other major stakeholders to manage political risks, assessing strategies and tools, using predictive scenarios to anticipate and manage political risks, sources and causes of political risks, successfully managing political risks using strategies and tactics, and the role of different stakeholders in political risks.
What are the existing oil and gas sector political risks?
It is the existence of chances that an organization in the oil and gas trade can easily be nationalized or expropriated or unilaterally, or multilaterally changed by another government to the utter detriment of the organization. Insurance policies against expropriation in any foreign organization protect them against “creeping expropriation”. Some of the categorizations of the political risks are; domestic political issues, international business practices, current political crises, and international political issues.
Upcoming start dates
Suitability - Who should attend?
Who should attend?
The Managing Political Risk in the Oil and Gas Sector Training Course by Rcademy is ideal for:
- Business development managers
- Corporate social responsibility managers
- Asset managers
- Lawyers
- Political analysts
- External relations managers
- Project managers
- Finance and tax professionals
- Public relations professionals
- Government relations managers
- New venture managers
- Country managers
- Operations managers
- Political risks analysts
Outcome / Qualification etc.
The main objectives of this course are to enable the participants to be able to:
- Understand recent trends and developments in political risks sources
- Know a wide range of techniques and methods to use to improve the political risks management situation in their organization
- Grasp the ideas of how to create synergies with other functions within their organization and with external parties
- Develop the ability to implement a fit-for-purpose strategy to manage political risk to support their business
- Understand the developing ideas and concepts for political risks mitigation
- Have an in-depth insight into how to analyze and mitigate political risks facing their businesses
- Enhance their awareness of best practices in political risk management
- Improve the ability to identify and implement a win-win solution to manage political risk
- Improve the existing political risk management strategy in their organization
- Increase their knowledge of global trends in political risks by analyzing
Training Course Content
Module 1: Political Risk Sources
- Populism
- Economic factors
- Political Change and Transition
- Black swan events
- Government policies
- Ethnic and minority groups
- Economic constraints
- Social divides
Module 2: Building Situation
- Using scenarios – High-impact, low-probability events – Managing instability – Planning for emergencies – Identifying opportunities – Having a contingency escape
- What is a scenario? – The purpose definition – The scope – Brainstorming scenarios – Anticipating and predicting scenarios
- Scenario setting – The status quo – How many scenarios – Worst best case – The likelihood vs impact
- Conclusion
- Case study: Frade field
Module 3: Sources of Information and Analysis
- Academic writings
- Human sources
- Political factors
- Civil Societies
- Government
- Consultancies
- Media and publications
- The independent sector
Module 4: Managing Political Risks
- Building political capital
- Proactive engagement
- Front-end loading and goodwill
- Choosing the right approach
- Monitoring and feedback
- Political risk management strategies
- Alignment with national priorities
- What can you control, and where does your influence come from?
Module 5: Proactive Management of Political Risk
- Measuring success
- Engaging the leadership team
- Skills and expertise that are required
- Consultation and engagement
- Structuring your team
- Proactive, collaborative approaches
- Embedded teams
- Early warning of policy changes
Module 6: Political Risk Assessment
- Introducing scenario analysis
- Working with incomplete information
- Use of experts to perform the assessment
- Making important connections
- The 360-degree view
- Assessment Strategies and Tools
- Capturing and understanding how to communicate political risks – The risk matrices – Reports – Presenting to leadership teams – Measuring success – Metrics used
- Red flags and showstoppers – Monitoring these factors – Identifying red flags – Ensuring there is a correct assessment
- Case study: deepwater horizon drilling rig
Module 7: Issues in Managing Political Risks
- Bilateral investment treaties
- Multilateral treaties
- Energy diplomacy
- Alliances
- Financial reporting quality
- Signature bonuses
- Frequency and causes of expropriations
- Contract provision in oil and gas contracts
- Geopolitics and global governance
- Financing, fiscal regimes, and sources of finance
Module 8: Ethics and Political Risks
- Human rights considerations
- Codes of conduct, guidelines, and standards
- Transparency and accountability
- Managing relationships with political factors
- Ethics and principles
- Creating opportunities out of political risks
- Government policies
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Rcademy
Rcademy is a global training and consultation organisation set out to bridge the gap between you now and what you can be in the near future. We are facilitators of knowledge impartation. Our team of established and experienced training enthusiasts...