Merits of Global Energy LeadersAbstract:With the beginning 21st century, globalization of Petroleum Industry in particular
and Energy
Business in general has started taking its shape on account of four major trade drivers: Expanding Energy Markets; Fluctuating Costs and Geopolitical control over Global Hydrocarbon / Energy Resources; World-wide Global Competition for Cheaper and Greener Energy with developments of
Sustainable Energy Portfolio; and Emergence of Governmental or Political Trading Blocks on a New Alignment of World’s Economic, Environmental and Energy Orders, that resulted in Restructuring of Global Energy Majors to redefine their business strategies, emerging out of global waves of rapid changes, while integrating various business components, to meet the challenges of future energy projections in global economy. The issues specifically focused for developing a global mindset to confront the emerging scenario of New World Energy Order in New Economic Equation, are categorized as: Changing Orientation of Energy Leaders, Evolving Global Energy Perspectives on treatise of Sustainable Development, Merits of Global Energy Business, and strategizing determinants to integrate Global Energy Portfolios. The article objectively emphasizes the sustainbility of rapid changes and globalization of energy business across the globe. With the advancements in new and frontier opportunities on energy portfolios, the orientations of energy leaders have changed considerably. The changes have taken place both in terms of operations and priorities. The focus has shifted from the level of individual manager to that of team or group leaders, and indeed the target now is the entire organization that needs to be trained and reoriented to face the global environmental, economic and energy challenges. The sufficient conditions that enhance and sustain a global mindset are knowledge and skills. The rapid changes redefine the elevated level of trainings on emerging technologies, knowledge, skills and leadership traits as well as on new priorities for exploring and producing non-conventional hydrocarbon resources, frontier petroliferous basins and developing nuclear and renewable energy resources, coupled with ability to act as a catalyst within the organization, capacity for envisioning and being able to give meaning to the vision with understanding of complexities of global energy business environments and prospects, and effectiveness in building and maintaining organizational networks at global levels. Apart from the socio-political, economic and cultural dimensions of global business environments, the global leaders need to be fully aware of technical dimensions of frontier knowledge, especially in areas of integration of various components of energy portfolios and digital business management on Information Technology. The knowledge requirements for the global leaders are the basic building blocks toward a global perspective, and global mindset. Basically, three fundamental dynamics of global business operations, contribute the leadership attributes of global leaders, these are: Global scale of operational efficiency and competitiveness, national level of responsiveness and flexibility, worldwide leveraging and developing organizational learning capabilities. The article conclusively derives the emergence of digital age at energy project management. Digital age offers the opportunity to improve our performance by leveraging technology to extract maximum value from our existing assets at minimum cost and to maintain a competitive edge at the same time as meeting the highest standards of corporate responsibility. The energy companies need to meet the world’s demand for affordable fuel at the same time as meeting its demand for clean fuel, bringing sustainable energy development and socio- economic benefits, while containing the threats of biodiversity – extinction, environmental - damages and climate - change. These are important responsibilities that can not be avoided, and people with character and aptitudes to shoulder them are very much needed. Future energy leaders need to have high levels of technical, commercial and social skills. They also need the broader personal qualities to grow and run business in a complex and fast changing environment on global energy perspectives for sustainable development. These leaders also need the vision to see the company as more than the commercial enterprise – they need to see it as a global citizen, a participant in all the communities of its areas of operations, and a driver of change in society. The industry’s people need to be radical, to take risks and challenge the status quo; but they also need to be responsible, to understand instinctively what it takes to be the trusted company. These steps are vital because over the decade to come the energy industry faces a complex series of challenges, demanding leadership and skills of the highest order. Pen Name: Jagdish Pratap E-mail: jpngiri@yahoomail.com