Impact Of The Energy Industry On The Oil And Gas Industry

Finally, I believe is important for companies to follow ethical standards that could assist them to make responsible decisions. The ISO 26000 standards is a document that addresses responsible practices related to organizational governance, human rights, labor practices, the environment, fair operating practices, consumer issues and community involvement and development (Ajeti, S. R., 2016, para. 2-4). for example, When Chevron faces difficult situations, they try to resolve them by answering four questions: (1) is it legal? (2) Is it consistent with the company policy, including human rights policy? (3) is it consistent with the chevron’s core values? (4) if it were made public, would be I be comfortable? (Chevron, 2015, p.

Obama has nothing to do with lower gas prices, OPEC removing oil production caps to put the American oil industry out of business (due to the fact they can extract oil for a much lower price per barrel than the American industry which has put over 400,000 American oil workers out of a job.) His administration has halted work on the Dakota access pipeline based on emotions that have no basis in fact or science, which has put Americans in danger due to the fact that the oil must be transported by rail instead of in a contained, completely monitored pipeline because his allies in industry own the railroads. His administration has destroyed the coal industry as well.

Facts: Plaintiffs are residents of Nigeria, who claim that Dutch, British, and Nigerian corporations engaged in aggressive oil exploration and production, aided and abetted the Nigerian government in committing violations of the law of nations related to crimes against humanity and human rights abuses. Royal Dutch and Shell are parent companies incorporated in the Netherlands and the United Kingdom respectively; Shell Petroleum Development Company (SPDC) is incorporated in Nigeria. Since 1958, SPCD has conducted oil exploration and production in the Ogoni region of Nigeria. Protesting SPDC’s activities in the region, Ogoni

Nigeria, located in West Africa, is a densely populated nation of over 100 million people. Since the nation’s independence from Britain in 1960, the country has been in the hands of various leaders ranging from religious to staunchly militant. Nigeria is the sixth largest producer of crude oil in the world and it has one of the largest deposits of natural gas (Wiwa, 2001). Oil accounts for ninety five percent of Nigeria’s foreign exchange earning and one-fourth of the country’s Gross Domestic Product comes from oil. A large percentage of this oil is located in the Niger Delta.

Oil for over a decade has been the main source of income for the Nigerian economy. It accounts for more than 70% of export.The Niger Delta region of Nigeria has been plagued with different negative effects of oil exploration. The environment, economy and even quality of human life have been greatly affected. This has created a lack of trust between the inhabitants and the oil companies, and even with the Nigerian government.

This thesis will study wide-ranging trends that impact the Oil and Gas industry and worker satisfaction. An assessment will be given to 300 employees of Oil and Gas companies in the southern USA, quarters to hundreds of big and small oil and gas businesses. Responses expected to be collated are typically from employees who had worked in the industry for a significant amount of time, putting them in a fine situation to remark on industry trends. The thesis/study shall first examine how the subjects feel about 12 diverse facets of these trends before determining the aspects of job security inspiration and job contentment of employees-in the sample-from big and small companies in the industry. It shall be the effects of inclinations as seen by the subjects that will compute the self-determining variable. The trends are gauged on two precise factors: household, and lawful and overseas. Workers of both small and big oil companies deem the local feature to be uniformly important, but worked of bigger firms consider the lawful and overseas feature to be more imperative than smaller firms do. Maybe, smaller firms for the reason that of their elasticity are better able to counter the unpleasant effects of decrease, job security, job approval, and universal motivation levels in the middle of employees of small oil companies were considerably advanced compared to employees of bigger companies. In the face of recent record high prices and earnings,

Factors Nowadays, the more appropriate question needs to be answered is no longer to what extent should a corporation include the society in their business operation but how to do it and use it as the river for organizational success (Epstein et al, 2006). In recent years, ethics and social responsibility have been playing an important role in the business world including in oil and mining industries. The pressure towards society and ethical conducts are higher than ever. Although every oil and mining multinational corporations economic missions are acknowledged, it is now their responsibility also to address public concerns. Oil and mining industries are known as the subject of scrutiny and bad press related with ethics and CSR concerns (Lins & Horwitz, 2007). The interest on CSR and ethics are always fore-fronted to the mining and oil corporations (Kapelus, 2009). The idea was developed since a long time ago, where multinational corporations are demanded to provide community development packages and assistance to their host communities (Amaewhule, 1997). Every business person, regardless their position in the hierarchy, company geographic details or even its products and services are now facing the same challenge which is how to define their corporation role for the society.

Nigeria is blessed with vast quantity of oil making it the 6th largest oil exporter in the organization of petroleum exporting country. Oil is a major source of energy in Nigeria and the world in general. Oil being the mainstay of the Nigerian economy plays a vital role in shaping the economic and political destiny of the country. Although Nigeria’s oil industry was founded at the

In the recent past, however, Nigeria has been hit by cases of political instability resulting in insecurity which has affected some of the oil companies like the Chevron and the Royal Dutch Shell. Escalation of major insurgencies has reduced the revenue obtained from oil as a result of the cut national output. America’s energy

The Nigerian National Petroleum Corporation (NNPC) is the state oil corporation, established on April 1,

207 million gallons. To any person, it is evident that this amount is quite large; however, the true impact of this amount is truly staggering. In 2010, the Deepwater Horizon drilling rig sunk to the bottom of the Gulf of Mexico unleashing 207 million gallons of crude oil into the gulf. From a company perspective, this is a staggering loss of capital ranging from the drilling rig itself to the clean up of the aftermath. The question remains, however, could this have been prevented? The oil and gas industry has been known to be a high risk, high profit industry. Many workers are placed in an isolated place under hazardous working conditions, but are compensated with a high salary and great benefit packages. These areas of compensation,

It was argued that “poor nations of the 21st century would not be those that lack resources (human and material) ...., but those that cannot account for whatever resources they have”. Hence, “accountability would continue to remain fundamental to the construction of viable socio–political economy” (Iyoha and Oyerinde, 2012: 361). Even the resource and material scarcity arises “primarily from failures of governance rather than from a physical shortage of resources or materials” (Andrews-Speed et al., 2012: vii). Hence, the Extractive Industries Transparency Initiative (hereafter the EITI) and many other international financial institutions have advocated that only greater accountability and transparency through disclosure of financial and

The Niger Delta region, Nigeria 's oil belt has been the site of a generalized ethnic and regional struggle for self-determination since 1998, the location of often-violent confrontations between local ethnic communities and agents of the Nigerian state and oil companies involved in the extraction and exploitation of oil in the area. What began as community agitation has undoubtedly undergone several transformations. The first involved the flowering of civil society, which mobilized a popular civil struggle. The second saw the extension of the agitation from that against multinational oil companies (MNCs) to

Evidence suggests that Nigeria’s poor oil management is due to institutional and governance reasons rather than economic mismanagement alone, and corruption and the rentier nature of the state are important part of the issue; Watts (2008) categorizes Nigeria as a “rentier petrostate”. Sala-i-Martin and Subraiman (2016) main argument in their study is that the country’s mediocre long run economic performance are due to oil waste and corruption, rather than the Dutch disease effect. Natural resources lead to rent-seeking or what they call “the voracity effect”, and more than oil itself it is poor institutional quality in the country which contributed to poor economic performance with an estimation of 0.5 percent lower

The oil and natural gas sector is constituted of three major components – upstream, midstream and downstream. The upstream industry includes exploration and production, midstream includes processing, storing and transporting while the downstream industry includes oil refineries and distribution. It provides consumers with various products like petroleum, gasoline, diesel, lubricants. The purpose of our project is to study the downstream oil and natural gas sector industry environment, that is, oil refining and distribution in India. The Indian oil and gas sector is one of the six major industries in India that have a huge impact on the country’s economy. We, in this project, have made an attempt to identify