MANAGING THE FINANCIAL STATE OF OIL & GAS SECTOR ENTERPRISES

Abstract

The enterprises of the oil and gas complex, selected to achieve the purposes of the research, are subordinated to the State. The financial performance of the oil and gas sector companies determines the financial position of the industry as a whole and can serve as an indicator of investment attractiveness or inattractiveness. Most enterprises have an outdated and depreciated material and technical base, inefficient disposal of financial resources, which lead to losses. The state of the industry in Ukraine is reflected in the research data of the Institute of natural resources management, and is characterized by the inability to effectively manage the existing potential of the oil and gas complex. Comprehensive analysis of the indicators of the financial state of the oil and gas companies was conducted using the method of grouping (distribution of oil and gas sector enterprises by types of economic activities); grouping, comparison and compilation of analytical data using tabular method (data on financial state of enterprises of oil and gas sector, indicators of estimation of dynamics of oil and gas enterprises, factor analysis of returns on equity (by Dupont method); analysis of current receivables and accounts payable of entrepreneurs, the analysis of the results of the research (depreciation of fixed assets of enterprises); the schematic (compiling the Resource Management Index) and the matrix (the matrix of the correlation of financial results and the dynamics of gross and net profit indicators) representation of research results. To establish the input of the author's approach to the existing literature, a comparison of the obtained results of the functioning of the oil and gas sector with the data of the Institute for Natural Resources Management, based on the aggregated Resource Management Index, has been done. The application of the above mentioned research methodology makes it possible to characterize the financial status of enterprises in the oil and gas sector in a comprehensive way. The list of measures to improve the situation is suggested and assumes the introduction of management of oil and gas sector at the state level and managing the financial state of enterprises of the oil and gas sector.

Keywords

• oil and gas complex
• enterprises of the oil and gas sector
• financial resources
• financial condition
• analysis
• profit