Discussion of M.A thesis of Misbah Jassim Saleh entitled “strategies of technical risk management and their impact on oil sector”

  M.A thesis submitted by the researcher “Misbah Jassim Saleh” were discussed at the department of financial studies, specialized in insurance entitled (strategies of technical risk management and their impact on oil sector) which is a case study in the facilities of the Central refinery company. The study discussed the importance of oil sector in identifying internal and external state policy as one of the several influential factors in local and global economy since it includes many risks of various kinds and their effect on this vital sector. It shed light on one of the statistical methods (gap analysis) for the purpose of identifying the amount of gap between the reality of the refinery and the general basics of building its strategy, determining percentages and issuance and presenting inspection reports for each stage. The study reached at several conclusions: there is a close relationship between the applied and effective strategy with the increased production and reduced working hours and also found that insurance plays an important role in shaping those strategies, especially in the oil institutions through bearing a significant portion of the expected loss of risks taking place in the refinery. The study presented a series of recommendations: the need for risk management strategy in all oil institutions for the purpose of drawing the outline, identifying goals, objectives and visions of public administrations, workplace, as well as focusing on preventive and therapeutic maintenance, insurance of persons and equipment mainly and risk management for senior management and staff, developing policies and programs to increase awareness that would result in moral benefits and material returns to the general strategy of any enterprise.

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