Document Type: Case Report


1 Process Engineer & Risk Specialist of Oil and Gas Refinery Company, Iran

2 Ph.D. of Science in Chemical engineering, Process Engineer & Risk Specialist in Oil & Gas Refinery Company, Iran

3 Risk & HSE Specialist, National Iranian Oil Production & Distribution Company, Iran



This Present study examines the corporate financial performance and risk management in oil and gas companies. Basically, the importance and qualitative method of any research can be examined from two basic and applied aspects. In general, no comprehensive research has been conducted, regardless of the limited number of articles and sources that have occasionally examined and referred to the subject, as well as studies conducted at the theoretical level. Risk management is essentially the process of identifying, analyzing and accepting or reducing uncertainty in investment decisions. In terms of risk management in all financial markets, there are people who are always right and well-planned, both in terms of analysis and investment. In today's modern world, the importance of monetary and financial science is not hidden from anyone. In the meantime, the discussion of proper financial reporting and its various methods have particular importance due to the analysis of the next steps of investors. The most important type of financial information is information about companies and their performance.

Graphical Abstract


Main Subjects


[1]. A. Samimi, S. Zarinabadi, M. Setoudeh, Safety and Inspection for Preventing Fouling in Oil Exchangers, International Journal of Basic and Applied Sciences, 1(2) (2012), 429-434

[2]. I.V. Osinovskaya, Prinyatie upravlencheskih reshenij v usloviyah riska (Management decision-making under risk), Economy and Entrepreneurship, 8-1 (2015), 767-770

[3]. A. Domnikov, G. Chebotareva, M. Khodorovsky, Systematic approach to diagnosis lending risks in project finance. Audit and Finance Analyses, 2 (2013), 114–119

[4].  A. Samimi, S. Zarinabadi, A. Bozorgian, A. Amosoltani, M. Tarkesh, K. Kavousi, Advances of Membrane Technology in Acid Gas Removal in Industries, Progress in Chemical and Biochemical Research, 3 (1) (2020), 46-54

[5]. A. Domnikov, M. Khodorovsky, P. Khomenko, Optimization of finances into regional energy. Economy of Region, 2 (2014), 248–253

[6]. D. Mohammadnazar, A. Samimi, Nessacities of Studying HSE Management Position and Role in Iran Oil Industry, Journal of Chemical Review, 1(4) (2019), 252-259

[7].  T. Shattuck, A. Slaughter, P. Zonneveld, refining at risk, Securing downstream assets from cybersecurity threats, A report by Deloitte Center for Energy Solutions, 2017

[8].  A. Trujillo-Ponce, R. Samaniego-Medina, C. Cardone-Riportella, examining what best explains corporate credit risk: accounting-based versus market-based models. Journal of Business Economics and Management, 15(2) (2014), 253–276

[9]. A. Domnikov, P. Khomenko, G. Chebotareva, A risk-oriented approach to capital management at a power generation company in Russia. WIT Transactions on Ecology and the Environment, 186 (2014), 13–24

[10].  M.Kh. Gazeev, N.A. Volynskaya, Sovremennye ogranicheniya i riski razvitiya gazovogo sektora ehkonomiki rossii Contemporary limitations and development risks in the gas sector of the Russian economy. Bulletin of Higher Educational Institutions, 3 (2012), 37-41

[11]. A. Samimi, Risk Management in Information Technology, Progress in Chemical and Biochemical Research, 3 (2) (2020), 130-134

[12]. A. Samimi, “Risk Management in Information Technology”, Progress in Chemical and Biochemical Research 3 (2), 130-134, 2020

[13]. J. V. Rosenberg and T. Schuermann, "A general approach to integrated risk management with skewed, fat-tailed risks," Journal of Financial Economics, 79, 569-614, 2006.

[14]. M. R. Walls, "Corporate Risk Tolerance and Capital Allocation: A Practical Approach to Setting and Implementing an Exploration Risk Policy.," Society of Petroleum Engineers, 1994.

[15]. P. Delquie, "Interpretation of the Risk Tolerance Coefficient in Terms of Maximum Acceptable Loss," Decision Analysis, 5(2008) 5-9,.

[16]. A. Ben-Tal and M. Teboulle, "Expected utility, penality functions and duality in stochastic nonlinear programming," Management Science, 32(1986) 1445–1446.

[17]. A. Street, "On the Conditional Value at Risk Probability Dependent Utility Function," Internal Research Reports, 2009.

[18]. L. Andrieu, M. D. Lara, and B. Seck, "Optimization under risk constraints: an economic interpretation as maxmin over a family of utility functions," presented at the Seminaire Louis Bachelier, 2011.

[19]. G. M. Vasey, "Energy Trading, Transaction, and Risk Management Software: A Key Component in Risk Management," in The Professional Risk Managers' Guide to the Energy Market, P. R. M. Series, Ed., ed: McGraw_Hill Finance&Investing, (2008) 245- 254.

[20]. D. Haushalter, "Finance Policy, Basis Risk and Corporate Hedging: evidence from oil and gas producers," The Journal of Finance, LV-nº1, 2000.

[21]. G. D. Haushalter, R. A. Heron, and E. Lie, "Price uncertainty and corporate value," Journal of Corporate Finance, 8(2001) 271–286.

[22]. H. U. Buhl, S. Strauß, and J. Wiesent, "The impact of commodity price risk management on the profits of a company," Resources Policy, 36 (2011) 346-353.

[23]. K. Buehler, A. Freeman, and R. Hulme, "Owning the Right Risks," Harvard Business Review, 2008

[24]. L. K. Meulbroek, "Integrated Risk Management for the Firm: A Senior Manager’s Guide," Harvard

Business School (2002) 02-046.

[25]. C. Lim, H. D. Sherali, and S. Uryasev, "Portfolio optimization by minimizing conditional value-at-risk via nondifferentiable optimization," Comput Optim Applications, 46 (2010) 391–415




M. Karami, A. Samimi, M. Ja'fari, The Impact of Effective Risk Management on Corporate Financial Performance, Ad. J. Chem. B, 2 (2020) 144-150.

DOI: 10.33945/SAMI/AJCB.2020.3.6