Managing petroleum sector performance – a sustainable administrative design

Barbara Doric and Vlado Dimovski

Economic Research-Ekonomska Istraživanja, 2018, vol. 31, issue 1, 119-138

Abstract: Countries all around the world use energy policy to achieve access to energy resources, such as natural gas and oil, which can lead to energy security and self-sufficiency as well as economic growth and geo-political advantages. As oil and gas exploration and production continues to be a priority within national energy politics in producer countries around the world, oil and gas companies and government bodies are implementing regulations to help enhance the sustainability of the industry. One of the challenges of twenty-first century is to meet demand and provide the world with enough energy in a safe and sustainable way. A range of case study data is used, from which a sample of 10 countries within Europe with similar institutional quality, political stability and regulatory platform was selected. Recommendations for petroleum sector governance and sustainable administrative design, respectively, which will positively impact petroleum sector performance and meet stakeholders’ expectations, were defined. This study indicates that a country implementing separate functions in administrative design will improve petroleum sector performance and address identified key success factors which will correspondingly meet stakeholders’ expectations, but most importantly, it will manage the petroleum sector in order to create wealth for the nation and ensure sustainability.

Date: 2018
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DOI: 10.1080/1331677X.2017.1421995

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