INVENTORY CONTROL MANAGEMENT AND REVENUE GENERATING CAPABILITIES OF OIL AND GAS DRILLING FIRMS IN NIGERIA

Cordelia Onyinyechi Omodero (), Fineboy Ikechi Joseph and Uzochi Chinkata Okezie
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Cordelia Onyinyechi Omodero: Faculty of Management and Social Sciences, Clifford University, Postal: Owerrinta, Abia State, Nigeria
Fineboy Ikechi Joseph: Faculty of Management and Social Sciences, Clifford University, Postal: Owerrinta, Abia State, Nigeria
Uzochi Chinkata Okezie: Faculty of Management and Social Sciences, Clifford University, Postal: Owerrinta, Abia State, Nigeria

Annals of Spiru Haret University, Economic Series, 2019, vol. 19, issue 4, 75-95

Abstract: The critical role of effective inventory control has been much emphasized in the oil and gas industry which is subdivided into upstream and downstream sectors with drilling activities falling within the upstream sub-sector. In light of this development, this study investigates effective inventory control and effective drilling activities of oil and gas drilling firms as well as its relationship with revenue generating capabilities of oil drilling firms in Nigeria. Simple random sampling technique was adopted. Presentation and analyses of primary data collected with questionnaires and testing of the hypotheses were done using percentage and Spearman’s Rank correlation coefficient. The results from the tests with the use of SPSS show positive and significant correlation between ineffective inventory management and downtime in the operations of oil and gas drilling with a correlation value of 0.682 with p-value = 0.001

Keywords: inventory control; downtime; oil drilling firms; termination of contract; inventory management; loss of income (search for similar items in EconPapers)
JEL-codes: G31 H29 H32 L21 M11 (search for similar items in EconPapers)
Date: 2019
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