Article: Stochastic oil price models: comparison and impact.

INTRODUCTION

Good decision-making practices in complex and difficult situations are crucial to the success of a firm. In oil and gas investment projects, the difference between a good decision and a bad one can be the difference between success and failure. A good investment decision-making process is the one that is able to assess risk and uncertainty and manage them in a balanced manner. In order to improve performance through good investment decisions, there is a need to know where the oil and gas industry currently is in terms of its management of risk and uncertainty and what are the possible ways to move forward to achieve quality investment decisions.

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