A outline of the importance of oil companies maintaining high standards in their operations.
Written in 2009; 1,588 words; 12 sources; APA; $ 51.95
Paper Summary:
The paper notes that the roles of shareholders and stakeholders in any company differ slightly, whilst in oil companies they have varied roles because stakeholders, with or without shareholdings, are somehow invested in the current and future success of the company. This paper briefly looks at the position of oil companies in the controversial role of the holders of a resource that independent users cannot obtain in any other fashion, and discusses the social responsibility of oil companies in the economic, legal, ethical, and philanthropic areas.
From the Paper:
"Oil management is in fact one of the most complicated of all businesses, given the fact that market, government regulation, industry regulation and many other factors create near constant fluctuation and the fact that petroleum is one of the most flexible of all energy products, with low cost for refinement and depletion in comparison to higher cost of research and development in both reserve location and technology infrastructure building. One issue that is significant and specific to the oil industry is that the price of the crude product is the largest expense associated with a completed refined product."
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