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Strategic management - Essay Example

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ANSWERS #1 Tullow Oil Company (TOC) is one of the largest independent oil and gas exploration and productions companies. Tullow Oil Company has more than 100 licenses in 22 countries. Geographically Tullow Oil Company has conducted business in regions of the Africa, Europe, South American and Europe…
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Download file to see previous pages Disturbance in North Africa and the Middle East had significant affect (Jones, 2012) while Uganda seized disputed license of TOC and held its 33% stake sale to heritage and CNOC (Mason, 2011c) ECONOMIC Significant source of revenue for country. Increase in tax from UK government of about ?10 billion resulted in increased concerns from oil and gas exploration companies claiming negative impact on job losses and household bills (Mason, 2011b) TECHNOLOGICAL Extensive technological expertise is required for oil and gas exploration. TOC has signed five year contract with FMC technologies for operations in Subsea services (PennEnergy Editorial Staff, 2013). SOCIAL Development of exploration plants results in social development of the country. Civil society stresses the accountability need of payment from oil and gas companies to counties and their respective utilization (Stewart, 2011). ENVIRONMENTAL Business has significant impact in the environment. Exploration in Savanna and Wetlands was warned for affecting natural land to elephants and lions by UNESCO (Manson, 2011a) LEGAL Governments are increasing pressures with increased tax system in lieu of depleting world oil reserves (Holmes, 2011). INDUSTRY ASSESSMENT Oil and Gas exploration industry is increasing competitive across the board. BHP Billiton, Centrica, Shell, E.ON, Bayerngas UK, Bridge Energy, ConocoPhillips, DONG Energy, Endeavour, GDF SUEZ, iGas, Perenco, Total and Tullow Oil forms around 60% of the UK oil production. Increased competitiveness is present in the industry despite of heavy capitalization which becomes a barrier to the industry. For instance, recent offer from Uruguay for the exploration received 15 bids from nine participants while four were granted rights. The offer made for 15 blocks yet accepted bids for nine only while every block had competition among more than three bidders (Webber, 2012). Owing to world’s increased need of energy the bargaining power of buyer is continuously reducing while the power of supplier is consistently rising. Renewable energy offering substitute are still not able to affect the demand of the energy. Intense competition has turned competitors to move towards strategic collaborative ventures. INTERNAL ASSESSMENT: Market Line (2012) has conducted in-depth assessment of Tullow and has identified following SWOT factors: STRENGTHS WEAKNESS Competitive advantage of leading oil and gas exploration business in Africa. Tullow has significant assets across Europe, Asia and South America in addition to Africa. The company has significant debt of around $2,854 million in 2011, which is a significant increase from $1,943 million in 2010. Hence, owing to growing competitive pressures huge debt can negatively impact Tullow’s capacity to compete. OPPORTUNITIES THREATS The acquisition that has been Tullow’s strategy to enhance its portfolio still offers great opportunities in future. Current developments in Uganda and Ghana such as development of Jubilee oil Field have potential for future development. Tullow has major capital projects underway while projects for FY2012 amounted around $ 2 billion. Capital expenditures incurred and planned offer greater opportunities for future. Big players of industry than Tullow has significantly greater strength from all perspectives such as technology, financial resources hence pose serious threats. Oil ...Download file to see next pagesRead More
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