How to Perform Quantitative Risk Assessment for Oil & Gas

The oil and gas industry is notoriously dangerous and presents a host of safety challenges. Of course, this industry can also be incredibly lucrative and firms within this particular sector can do very well. The key for many companies is to ensure that all possible risks are considered and planned for, as the financial consequences of any mistake or disaster can push even the most well-funded firm to the brink of or even into bankruptcy. Here are some of the important things to consider when performing a quantitative risk assessment:

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How to Catch Oil & Gas Contract Loopholes Early

It is no secret that companies in the oil and gas industry enter into contracts that have the potential to be very lucrative. Regardless of where a company is in the production and distribution chain, oil and gas continue to be pretty solid moneymakers. But, because the firms involved are seeking to maximize their profits, they often try to find creative ways to structure agreements. If companies aren't careful, they may end up agreeing to terms that will gradually erode their own earnings. Here are some of the top things to look out for in these sorts of contracts:

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