Petro_case study_ppt -Edited.ppt - SUSTAINABILITY OF BUSINESS Team Name – Young Geologists Sustainability In terms of Petroleum Industry •

Petro_case study_ppt -Edited.ppt - SUSTAINABILITY OF...

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SUSTAINABILITY OF BUSINESS Team Name – Young Geologists
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Sustainability In terms of Petroleum Industry “Meeting the needs of the present without compromising the ability of the future generations to meet their needs”. Reduction in negative impacts on the natural environment through their operations. Invest in business practices that promote policies to make wide- reaching progress toward sustainable development.
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Green operations These are not necessarily sustainable in the long run, but minimize the negative impact of operational processes on environment. The statements of three largest Oil Companies shows their desired approach towards the goal of green operation (Exxon Mobil, British Petroleum, & Shell)
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Oil Companies and Renewable energy Companies’ make their business more sustainable by investing in renewable energy sources. Production and use of these energy sources minimize adverse impacts on the environment. Currently, renewable energy sources could not provide enough energy for even a small fraction of the energy demand. Oil companies’ investments in these sources would not prove profitable in the short or medium term because of large sunk costs in current methods of operation .
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Oil companies have two most important goals in their operation, first is to make it profitable and second to minimize any adverse impacts that could have seriously affected the ecosystem.
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  • Fall '19
  • Peak oil

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