Modern aspects of managing the financial risks of an oil company in the context of globalization and global change

Abstract

Research background: Globalization is a process of uniting the world into a single system of global properties. The globalization of the world economy finds expression in the process of the global space being altered where it transforms into a single zone open to the free and unrestricted movement of goods, services, information and capital. The spread of the COVID-19 pandemic has disrupted the unification of economic life rules and the transformation of the system of interstate regulation of global economic cooperation. There has been a disruption in technological, logistics and business chains resultant from the world’s leading national economies closing and many economic entities which operated in the “real economy” shutting down. These “pandemic-caused” factors have put substantial restrictions on the income of companies and their staff while also fueling unemployment. Purpose of the article: to research the company’s financial risks in the context of global changes caused by the pandemic. Methods: The study employs methods of analysis and synthesis, statistical data analysis as well as regression analysis. Findings & Value added: The main goal of the research is to study the main types of financial risks of an oil company, analyze the econometric model, and identify the main factors that affect the company’s solvency in the context of global changes.

Keywords

• globalization
• financial risks
• company’s solvency
• global changes