Comparison of the impact of procurement systems on the financial efficiency of public and private oil and gas companies

This article examines the complex relationship between procurement systems and financial efficiency in the field of oil and gas companies, identifies differences between public and private structures. The effects of independent procurement practices and strategic outsourcing in terms of economic efficiency are also compared. The study focuses on finding out how these different approaches affect financial performance, shedding light on their nuances, trade-offs and potential consequences for companies operating in the oil and gas sector. The importance of procurement systems cannot be overestimated, as they directly affect the final performance of the organization. Effective procurement systems facilitate cost control, improve the quality of products or services, and ensure timely delivery. By establishing standardized procedures, these systems enable enterprises to optimize processes, minimize risks, negotiate favorable prices and improve relationships with suppliers. Thus, it is worth noting that differences in the conduct of procurement activities between public and private oil and gas companies can have a significant impact on their financial efficiency. State control and regulation of procurement activities can ensure transparency and compliance with legal norms, but at the same time create political problems and bureaucratic obstacles.