_-- Public Policy Network - Posting to [log in to unmask] --_
The Institute for Global Management and Research invites you to the second
conference in:
*************************************************************************
* International Research and Conference Series *
* on Post-Privatization Management *
* *
* "Challenge to the Global Oil & Gas Industry: *
* Competition, Commercialization, Privatization" *
* *
* October 13 and 14, 1998 *
* Marvin Center Theater *
* H & 21st Streets, NW *
* The George Washington University main campus *
* Washington, DC *
* *
*************************************************************************
?????????????????????????????????????????????????????????????????????????
? ?
? For conference and registration information ?
? please contact IGMR at 202-994-5402, or [log in to unmask] ?
? or visit the conference web site ?
? ?
? http://www.gwu.edu/~cms ?
? ?
?????????????????????????????????????????????????????????????????????????
The conference will address three major questions:
* How can privatized firms survive in a competitive environment?
* Is there a desirable model for industry structure
post-privatization?
* What role should the government play in a privatized oil and gas
industry?
Invited speakers include
MIKE BOWLIN*
Chairman & CEO, ARCO, United States
LORD DAVID CURRIE
Professor of Economics, London Business School, United Kingdom
OSCAR FANJUL*
Chairman, Cofir
Honorary Chairman, Repsol, Spain
LUIS GIUSTI*
Chairman & CEO, Petroleos de Venezuela
ROBERTO MONTI
CEO of YPF S.A., Argentina
HOSSEIN RAZAVI
Director of Energy, Europe and Central Asia Division, The World Bank
* Members of the Advisory Board of the Institute for Global Management and
Research
_______ _______ _______ _______ _______
_______ _______ _______ _______ _______
Conference Themes
Theme # 1: Survival in a Competitive Market
Managing Political and Commercial Risks
A suitable ownership structure would facilitate risk management because of
the comparative advantage of each partner to deal with certain risks.
Access to Finance
There have been some exceptionally successful experiences of corporate and
project finance in the recent years which offer very valuable lessons for
the oil and gas industry.
Mergers and Acquisitions
Mergers and acquisitions constitute important options for extending
ownership and improving efficiency.
Market-Oriented Management
Many of the companies remain under the previous management, at least at
mid-level, for some time after privatization. While this arrangement has
a strong merit in terms of preserving continuity, there is a need for
radical reorientation of management practices.
Cost-Cutting and Downsizing
Almost immediately after privatization, oil and gas companies face the
most sensitive issue of downsizing.
Theme #2: Desirable Model for Market Structure
Entry and Access
The most important consequence of implementing an industry structure is
the competitive structure. Entry and access are among the most complex
issues. The experience has been quite mixed, but there are many lessons
to be shared.
Foreign Investment
Foreign investment and involvement are essential for efficient development
in many countries. However, foreign involvement in the petroleum sector is
politically sensitive.
Privatization in OPEC countries
Privatization of the oil industry in OPEC countries is an intriguing
possibility with a number of sensitive political and economic issues.
Theme #3: The Role of Government After Privatization
Facilitate Private Sector Participation
A justified and very critical expectation is that the government clarifies
rules and regulations and introduces appropriate policies, which would
enable the private sector to operate in a market-based environment.
Ensure Competition or Impose Regulation
In the event that the industry structure does not lead to competition, the
government will be responsible for controlling prices through economic
regulation.
Safety and Environmental Standards
Environmental issues are of concern to both public authorities and private
companies. Fear of future environmental liabilities, discourage private
investments in many oil and gas projects.
_______ _______ _______ _______ _______
_______ _______ _______ _______
This conference is part of a three-year long International Research and
Conference Series on Post-Privatization Management, organized by the
Institute for Global Management and Research of The George Washington
University. It is the second conference in the Series.
As the oil and gas industry changes towards commercialization and
privatization, new questions arise regarding the future of competition in
the industry. Countries such as the United Kingdom and Argentina that have
completed the privatization process, are continuously under public
scrutiny as to the extent of regulation and competition in the sector.
Countries that are in the midst of the privatization process are seeking
models that lead to a smooth transition and efficient operation of
privatized industries.
The purpose of the Oil and Gas Post-Privatization Management Conference is
to provide an executive forum for interaction of companies, government
officials, regulators, and other stakeholders, to share their experience
and views in regard to post-privatization management issues and solutions.
________________________________________________________________________________
_------- -------_
Public Policy Network - PUBPOL-L
http://www.hhh.umn.edu/pubpol/pubpol.htm
Commands to: [log in to unmask]
Subscribe: SUB PUBPOL-L "Your Name"
_ Unsubscribe: UNSUB PUBPOL-L _
------- -------
|