Browsing by Author "Pascal, William"

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    The perceived effect of risk management practices on the level of risk in oil and gas businesses in Tanzania
    (University of Dar es Salaam, 2017) Pascal, William
    Oil and gas businesses are vital for economic development of country despite the fact that they are very risky. The aim of this study was to understand the risk management practices in upstream oil and gas businesses in Tanzania and establish their effect on the level of risk. The study employed mixed method where qualitative and quantitative data were collected parallel. A total of 37 face to face questionnaires were successfully administered among 7 upstream oil and gas companies in Tanzania. Eight (8) interviews were conducted with four upstream oil and gas companies. The quantitative data were analyzed using both descriptive and factor analysis while content analysis was used to analyze qualitative data. The results revealed that regulatory risks, fluctuation in global oil prices and bureaucratic government system were the major risks threatening oil and gas businesses in Tanzania. The results show that the oil and gas businesses use experts, probability methods, insurance, continuous risk assessment and meetings presentations to identify, assess, control, monitor and communicate the risks respectively. All these risk management practices were found to have great influence on the level of risk. The study recommends that the government should stipulate stable procedures in project approvals and outfitted rulings to avoid undue regulatory quarrels. Likewise, oil and gas companies should initiate and retain access to key government decision makers to minimize the risks manifested.