Corporate Governance in the Oil and Gas Sector

This study explores the key issues related to governance in the oil and gas industry from the perspective of emerging markets and developing economies. It provides evidence that several countries within different contextual settings have demonstrated good governance and realised that weak or poor governance systems can be avoided with the right structural reforms, knowledge, institutions, regulations, and policies. So there is reason for cautious optimism that other countries in the region might have learnt hard lessons from weak governance systems in the past. Consequently, these countries will pursue strategies and policies that enable them to reap the full benefits of good governance in the future. The study provides strong justification for countries with a low oil and gas governance index to follow countries with best governance practices and institutional arrangements as their benchmark to achieve a stable governance system.