It is a pleasure to have you all as newly appointed members of the Board of Directors for Tullow Oil company. As a member, you will be required to have an in-depth knowledge on the overall operations of the company, particularly as it relates to governance.
1.1 Who we are
Tullow Oil is a multinational and independent oil and gas exploration and production company founded by Aidan Heavey in Tullow, Ireland in 1985. Having no knowledge of the industry and no major backers, Mr. Heavey had amassed £1.7 million in revenues, operated in 8 countries and had 42 employees by 1986.
As of November 2014, Tullow Oil Plc now holds 146 licenses in 22 different countries, 66 producing fields and has a workforce in excess of 2,000 worldwide. Tullow
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We are already a dominant player in countries such as Ghana Uganda, Kenya, French Guiana and Norway (tullowoil.com, 2014).
Tullow Oil spend an immense amount of effort in researching the regions where they could penetrate. They asses a particular region’s viability and risk and drawing up contingency plans.
1.3 Our vision, mission and purpose
Tullow Oil’s vision is to be ‘’the leading global independent exploration and production company with a clear and consistent exploration-led growth strategy’’ (tullowoil.com,2014) They are aiming to build a company that has ‘’an unrivalled competitive position’’. One of their mission is creating shared prosperity and improving our socio-economic impacts such as paying local government taxes, creating employment opportunities and engaging with local communities.
They also aim to deliver a positive socio-economic impact and legacy and in being transparent and accountable to all of their stakeholders. (tullowoil.com, 2014). They create a rewarding, challenging workplace, providing employment opportunities, help local enterprise development, and managing their business which respects local communities and the impact it has on them.
1.4 How do we add value to wider society
Tullow oil adds value to the countries where we operate in various ways. It consists of taxes paid to local governments, employment opportunities for both international and national people,
They strive to provide nice workplaces for their employees to grow and work in a better environment. Supporting Our Communities is the second. They are doing Community Giving Program such as giving the scholarship to build academic achievement for young people. Third and Fourth responsibilities they are focusing are Operating Sustainably and Conducting Business Ethically. They are putting efforts to maintain transparent business and to save electricity 30% and reduce waste for the environment. Their buying & planning offices are located in New York, Los Angeles, and Boston. Their buying and planning teams always try to get the current trendy products and find what their customers love at the affordable
In this book, Yergin takes the reader on journey through oil history, from the first 1859 well drilling by Colonel Edwin in Pennsylvania up to the invasion of Kuwait by Saddam Hussein in a wrathful grab for oil and wealth in August of 1990. Yergin explores the role of oil in warfare, describes the changing organization of the oil sector, and examines
The organisation’s goal is to achieve long-term value for its customers, shareholders and its employees through domestic and growth outside of Australia.
They believe in making consumers feel accountable to the actual success of the company, which can be done by connecting the compensation of the workers to the achievement of the company as a whole.
Ever since the day that Spindletop started to gush, oil has been very important to the region. Oil has lead to new inventions and also expansions to places like schools. It also gave people jobs because people can get paid for locating and drilling oil.
Our mission is to provide consumers with innovative products to increase efficiency and productivity while proving to have less impact on our environment and help our customers do so as well. We wish to prolong our current economic growth and protect our planet in the process. The integrity of our company is based on the quality of our products, our satisfied customers, the integrity and conscientiousness of our employees and our sincerity to innovative development and evolution.
The company’s purpose is to “provide branded products and services of superior quality and value that improve the lives of the world’s consumers now and for generations to come. As a result, consumers will reward us with leadership sales, profit and value creations, allowing our people, our
Respect the individual, provide the best service to their customers, strive for excellence, and exceed customer expectations. Their corporate mission focuses on a global growth strategy through concentrated integration. The company continues to expand its
Most of us all knows that oil is the heart and soul of Oklahoma. In Oklahoma, oil is found everywhere from the Panhandle to the border of Arkansas. Even though Oklahoma is not very educated about natural resources we are sure we make oil. Around the world, oil is known as “Black Gold”. This “Black Gold’s” is so popularized because of who founded it, when it was found, and because it is so important to us even today.
1. Talisman Energy Inc. started as a small independent oil company which needed to grow and expand internationally since that North
As I have mentioned before, this research paper is being taken exclusively with the aim to evaluate the Tesco’s performance in both financial and business terms over a three years period. Since the financials will be compared with its three year
In the “The Prize: The Epic Quest for Oil, Money, And Power,” Yergin undertakes the reader upon a thorough and enjoyable journey through oil history, from the first 1859 well drilling by Colonel Edwin in Pennsylvania during up to the invasion of Kuwait by Saddam Hussein in a wrathful grab for oil and wealth in 1990 August. Yergin explores the role of oil in warfare, depicts the ever-changing organization of the oil sector, and examines the prominent, as well as often flamboyant petroleum players. The book is a well-researched and well-written, and supplement to a history branch, which until very lately, had been regrettably neglected—history of business.
The company aims at ensuring that they are recognized as a leading company in its industry and rise above the noise in the market that is caused by competition.
Other activities have included the provision of training in areas such as business entrepreneurship, management skills and record keeping, plus practical training on farming techniques and livestock care (MPNCN as cited in Idemudia 2009). From this perspective, it can be seen that the corporation has endeavoured to improve “host” communities in a number of instances. Such examples provide evidence that ExxonMobil’s efforts have been aimed at increasing (local) community capacity and sustainability. By engaging with communities in this way ExxonMobil are able to present themselves as part of the community. As a consequence there is less likelihood of negative outcomes for the company’s operations including concerns for worker safety and damage to worksites (Idemudia 2009). Thus, the benefits for the corporation are wide reaching but include an improvement to corporate reputation through improved relationships with local stakeholders as they come to accept and identify with the corporation. In addition, to ExxonMobil’s credit, they show a concern for the community beyond that of wealth generation for shareholders.
The oil spill undermines the reputation and market position of British Petroleum, thus its stock prices decline dramatically. Even though BP took measures for resolving these problems, its way was not beneficial enough and therefore, it still requires more advantageous resolutions.