Sample Essay On Sustainable Development In The Petroleum Industry

Abstract

Sustainable development is defined as the development meant to meet the present needs but fail to compromise the future generations in meeting their needs. It compromises of social, environmental as well as economical issues surrounding certain institutions. This paper would focus on the sustainable development from two major oil and gas companies, Total and ExxonMobil company.The paper would look at the two oil companies separately starting with Total the ExxonMobil. The paper will discuss on the perspective of the two companies on issues related to the sustainable development as well as focus on compromise situation that both stakeholders can benefit.
Total programs in sustainability are guarded by their strategic vision that combines responsibility, as well as performance in integrating business models. This vision coincides with increasing oil demand as well as environmental challenges.Research suggests that by the year 2030, the oil demand is forecasted to have grown by 25%. This is due to to economic and demographic growth. Climate change is also attributed to this change. Therefore, Total oil company is placing a well reliable sustainable development to act on this challenges within the environment (Total).
For the company to achieve all that responsibility, the staff are focused on achieving three fundamental cornerstones; ethics, safety, and corporate responsibility.The company has leveraged the business model that makes the company capture areas of expertise, as well as synergies within the business base. To achieve these profitable models and sustainability to serve the growing market, the company is committed to other business models and strategies for growth of production operations and exploration while improving their levels or positions as natural gas provides. The industry is also working on the development of top tier, petroleum platforms as well as competitive refining. It is also committed to securing the future of the energy through stepping the up the push for innovation of biomass and solar. This would be achieved through constant development efforts and research. The company is also committed to making strides as it keeps pace with market changes and trends. This would adapt refining base to face the high level of demand, as well as solidifying European positions and selective growth in other continents like Africa, Asia as well as Middle East. Finally, the company is focused in helping to improve local development within the host countries (Lerbinger).
Another important element that the company include is action compacting climate change. Since the company operates through having products with gas and oil, the company is committed towards management of carbon emissions that is generated from the factory. This is made possible by capturing the emission of carbon through the latest technology, CCS technology in Lacq commercial-scale project based in France. This would capture the carbon thus making the problem of released gas to be controlled (UNESCO).Total is also committed to developing renewable energy sources such as biomass and solar energy. This would be made possible by the introduction of photovoltaic solar value chain. The biomass would be made possible through intensive research that would be able to convert thermochemical, microalgae, biotechnology and forge strategic partnerships.ExxonMobil, on the other hand, is committed to offering reliable as well as affordable energy that is essential for human progress. Since the company deals with flammable products, one of the main things that are considered are risks involved. Thus, the company works to reduce the risks that are involved in having good practices and standards that consider the communities where the operation is based. The company is also committed to having natural gas just like the Total. This is driven due to the rising demand of fuel within and protection of the environment. Natural gas is reliable, affordable, available as well as efficient as compared to the other forms of fuels. Natural gas contains less carbon as it omits up to 60% less carbon dioxide as compared to coal. The company also utilizes the oil through the use of unique geoscience capabilities as well as understanding or knowing the hydrocarbon thus coming up with the correct resources to be used (NGO).
ExxonMobil has several advantages over Total. One of the advantages is funding of lobbies that launch climate change denial. Most of the companies and also citizens are involved in things that change the climate or lead to climate change. For instance, campaigns over oil spillage or ways through that the company can stop oil spillage. The company is committed to having sufficient strategies of facing the challenge. The company also has a balanced portfolio. The diversity, size and quality of the portfolio of those resources, products, assets as well as projects are quite unparalleled. This provides large inventories, economic scales that are of high-quality investments across the business lines. This advantage makes ExxonMobil support future growth, be flexible towards innovations and technologies as well as have strong operating results (ExxonMobil).
Total also has some advantage over Exxon due to the availability Total Foundation that is based in France. This foundation is focused on preserving artifacts and memories that support the companies heritage. It is also used to promote and ingrate the youth through sports and education, supporting intensive research and a slow protecting the health of the people (Omeje). Therefore, this provides the company with an advantage of protecting the environment and especially the people. The foundation is also committed to the environment through supporting research, increasing rehabilitation, as well as preservation of coastal and marine ecosystem in case of oil spillage.
Both companies have compromised to delivering the best to the people. Although they are competitors, they ensure a safe supply of oil and gas to the growing population. They are also committed to ensuring an eco-friendly environment (Total). This is through working to have and environment that is free from pollutant from such companies, working on less emission of carbon to the environment, ensuring there are quick response towards accident like oil spillage and also providing sufficient supply to the demanding nations. The companies are also working on coming up with campaigns that would educate the people on strategies to reduction of activities leading to pollution, global warming as well as an eco-friendly environment.This agreement or compromise is meant to reduce accidents that are being reported. The response is aimed at reducing accidents that are being reported concerning oil spill. The move is aimed at reducing loses met by the companies while at the same time saving the aquatic life.
In conclusion, sustainability development in the Total and ExxonMobil are somehow related since both companies deliver the same products. They have different strategies in conserving their environment, social and economic surroundings. They all hold responsibility for protecting the environment and coming up with strategies that would guarantee less pollution to the environment. They also have good ways of detecting and controlling accidents like oil spillage. Their economy is open to expansion to other countries. The companies also have differences in their working condition as well as working environment. The difference is brought about by various policies that guarantee difference in performance.

Works Cited

Exxonmobil. Exxonmobil.com. Thursday February 2015. Thursday February 2015 <http://corporate.exxonmobil.com/>.Web
Lerbinger, Otto. The Global Manager: Contemporary Issues and Corporate Responses. Basingstoke: Palgrave Macmillan, 2013.Print
NGO. Sustainable Development Drivers: The Role of Leadership in Government, Business and NGO Performance. Cheltenham: Edward Elgar Publishing, 2012.Print
Omeje, Kenneth C. High Stakes and Stakeholders. Ashgate Publishing: Ashgate Publishing, 2006.Print.
Total. Total. Thursday February 2015. Thursday February 2015 <http://www.total.com/en>.Web.
UNESCO. Climate Change and Arctic Sustainable Development: Scientific, Social, Cultural and Educational Challenges. Paris: UNESCO, 2009.Print.