Limited oil and gas resources seen as biggest risk for NOCs

Limited oil and gas resources were identified as the highest risk issue for national oil companies (NOCs), according to a survey of NOCs by risk advisory firm Marsh.

The recruitment and retention of qualified staff was seen as the next biggest risk, followed by the volatility of energy prices, the environmental impact of operations and political and regulatory risks.

Four hundred delegates were interviewed at the Marsh National Oil Companies’ conference in Dubai earlier this year. The respondents were asked to rate the relevance of the risks identified and how effectively they felt these were managed by their firms. The findings of the report identified a