Oil and Gas Companies’ Business Internationalization between Globalization and Slowbalization: An Analytical Approach for Risk Mitigation

This paper presents an original analytical approach about the oil and gas business internationalization and the risks they may face within the recoil of globalization and its move to a new phase “slowbalization” or “de-globalization”, the research focuses on a descriptive analysis by referring to a related literature and suggesting a matrix in the section of findings to mitigate the risks that oil and gas companies may face within or before engaging in the internationalization process. the research method relied on a quantitative qualitative approach to illustrate the findings and describe them analytically in frameworks and models so that companies and business holders may follow them to have knowledge about risks, their types, consequences and levels and how they may mitigate them especially if they deal with internationalization process in the oil and gas industry and business. The matrix was created by the author of this full paper and research to classify the level of risks followed by mathematical calculation according to a created formula. Oil and Gas companies try to leave market tights and survive in times of risks and crises since they are considered major energy resources for the global economy, some businesses are returning home and decoupling within the global economic decoupling after the losses they started to face during the geopolitical conflicts losing trust in some markets, economies and other foreign locations, even for the new ones. Slowbalization has imposed new rules globally to business growth and prosperity globally between advanced economies or between them and developing economies. In conclusion, the risks that oil and gas companies encounter before engaging in the internationalization process are the consequences of the recoil of globalization that is embodied in slowbalization that is why resilience and risk mitigation are needed.