Title: Risk evaluation of technology innovation in China's oil and gas industry

Authors: Li Junchen; Dong Xiucheng; Mikael Höök; Gao Jian; Li Shiqun

Addresses: Energy Economics Institute, CNOOC, No. 25, Chaoyangmen North Road, Dongcheng District, Beijing, China ' Department of Business Administration, China University of Petroleum, No. 18, Fuxue Road, Changping District, Beijing, China ' The Association for the Study of Peak Oil and Gas, Klintvagen 42, SE-756 55 Uppsala, Sweden ' Department of Business Administration, China University of Petroleum, No. 18, Fuxue Road, Changping District, Beijing, China ' China's Oil and Gas Exploration and Development Company, CNPC, No. 6, Fuchengmen North Road, Xicheng District, Beijing, China

Abstract: Oil and gas industries are technology intensive and appropriate risk evaluation is necessary. The Chinese oil and gas industry is in the development phase, thus risk assessments and mitigation is more important than pushing technological innovation. This paper compiles research of other experts in the field and evaluates innovation risk by using a multi-hierarchy grey method. The result shows that the technology innovation risk for China's oil and gas industry is relatively high. Finally, this paper proposes some suitable measures that may decrease risk levels.

Keywords: risk assessment; technology innovation; oil and gas industry; multi-hierarchy grey method; China; innovation risk.

DOI: 10.1504/IJGEI.2013.055933

International Journal of Global Energy Issues, 2013 Vol.36 No.1, pp.1 - 12

Accepted: 21 Nov 2012
Published online: 12 Jul 2014 *

Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article