Introduction

Political risk is one of the most significant external factors influencing the success, continuity, and value of oil and gas projects. Government policy shifts, geopolitical instability, social pressures, regulatory change, and global energy transitions can materially affect assets, operations, and long-term investment decisions.

This Managing Political Risk in the Oil & Gas Sector training course provides a structured and practical framework for understanding how political risks emerge, how they impact business performance, and how they can be managed proactively. Participants will develop the capability to integrate political risk assessment into strategic planning, stakeholder engagement, and decision-making processes while aligning actions with governance, ethics, and organisational objectives.

Key focus areas include:

Key Learning Outcomes

At the end of this training course, participants will be able to:

Training Methodology

This training course uses an interactive and scenario-based learning approach combining expert-led discussions, real-world oil and gas case studies, group exercises, and practical risk assessment workshops. Participants actively apply tools and frameworks to realistic political risk situations to ensure immediate relevance and practical transfer to their operating environment.

Managing Political Risk in the Oil & Gas Sector

Who Should Attend?

This Managing Political Risk in the Oil & Gas Sector training course is designed for:

  • Country Managers
  • Asset Managers
  • Project Managers
  • Operations Managers
  • New Venture Managers
  • Business Development Managers
  • Finance and Tax Professionals
  • Lawyers and Legal Advisors
  • Risk Managers
  • Government Relations Managers
  • Political Risk Analysts
  • Corporate Affairs Managers
  • External Relations Managers
  • Corporate Social Responsibility Professionals
  • Public Relations Professionals

Course Outline

Day 1

Introduction to Political Risk

  • What is political risk? Introduction and definitions
  • Political risk and ethics
    • Ethics and principles
    • Transparency and accountability
    • Human rights
    • Managing relationships with political actors
    • Codes of conduct, standards and guidelines
  • Political risk: threats and opportunities
    • Global trends and developments
    • Geopolitics
    • Climate change
    • Technology
    • Oil and gas industry outlook
    • Creating opportunities out of Political Risk
Day 2

Sources of Political Risk

  • Sources of Political Risk
    • Government policy
    • Conflict
    • Political change and transition
    • Social divides
    • Ethnic and minority groups
    • Populism
    • Economic factors
    • Black Swan events
  • Sources of information and analysis
    • Government
    • Political actors
    • Media and publications
    • Academics
    • Civil society
    • Consultancies
    • Human sources
Day 3

Assessing Political Risk

  • Assessment strategies and tools
    • Making connections
    • Working with incomplete information
    • The 360 degree view
    • Use of experts
    • Introducing scenarios
  • Red flags and showstoppers
    • Identifying red flags
    • Assessment
    • Monitoring
  • Capturing and communicating political risk
    • Reports
    • Risk matrices
    • Metrics
    • Presenting to leadership teams
Day 4

Managing Political Risk

  • Political risk management strategies
    • What can you control, influence or ignore?
    • Choosing the right approach
    • Monitoring and feedback
  • Building political capital
    • Front end loading of goodwill
    • Alignment with national priorities
    • Proactive engagement
  • Proactive management of political risk
    • Early warning of policy changes
    • Consultation and engagement
    • Proactive and collaborative approaches
    • Measuring success
  • Organisation
    • Skills and expertise
    • Team structure
    • Embedded teams
    • Engaging the leadership team

 

Day 5

Building scenarios

  • What is a scenario?
    • Purpose of scenarios
    • Defining the scope
    • Prediction vs anticipation
    • Brainstorming
  • Setting out the scenarios
    • Worst and best case
    • The status quo
    • Likelihood vs impact
    • How many scenarios?
  • Using scenarios
    • Managing instability
    • Contingency planning
    • Identifying opportunities
    • High impact, low probability events
  • Conclusion
    • Summary
    • What does excellence look like?
    • Final Q&A

 

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FAQs

Political risk directly affects project approvals, regulatory stability, contracts, and long-term investment value in the oil and gas sector. Effective political risk management helps organisations protect assets, anticipate change, and sustain operations in volatile environments.

The training course covers government policy changes, geopolitical tensions, social and community pressures, regulatory uncertainty, conflict, and emerging global trends such as energy transition and climate policy. These risks are analysed in the specific context of oil and gas operations.

Participants learn structured political risk assessment tools, including risk matrices, metrics, red-flag indicators, and scenario analysis. These tools enable professionals to assess likelihood, impact, and uncertainty in real-world oil and gas situations.

Yes, the course emphasises the role of stakeholder engagement, government relations, and alignment with national priorities as core elements of political risk management. Participants explore proactive and collaborative approaches to managing political issues.

Absolutely. The Managing Political Risk in the Oil & Gas Sector training course strengthens strategic planning by integrating political risk insights into investment decisions, project development, and long-term business strategy.

Yes, scenario planning is a central component. Participants learn how to build, test, and use scenarios to anticipate instability, prepare contingency plans, and identify opportunities arising from political change.

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