Shell Again Most Sustainable/Ethical Oil Company in 2006

For the third year running, Shell ranks the most sustainable/ethical company, followed by BP and Brazil's Petrobras, according to a study by the Madrid ethics rating firm Management & Excellence (M&E).

Shell substantially improved from 82% (2005) to 89%. It supports 12 codes of human rights and its board met a record 29 times in 2004, compared with 8 at BP. It offers grievance channels for employees in over 50 countries and is implementing 120 biodiversity projects worldwide. No oil company studied was as transparent as Shell, publishing 13 separate reports on topics ranging from environmental impact to animal testing. Caught in a scandal two years ago for misrepresenting its oil reserves, Shell now publishes a 40-page report on how its reserves calculations comply with SEC guidelines.

                               Ranking

                    1.  Shell            89.01%
                    2.  BP               83.52%
                        Petrobras        83.52%
                    4.  Statoil          83.15%
                    5.  Total            76.19%
                    6.  Norsk Hydro      73.26%
                        Repsol           73.26%
                    8.  Chevron          72.53%
                    9.  ExxonMobil       68.13%
                    10. Conoco           66.30%
                    11. Pemex            62.64%
                    12. ENI              62.27%
                    13. Lukoil           58.61%
                    14. Gazprom          35.90%
                    15. Petronas         20.15%

Brazil's Petrobras, moves up this year from 7th (2005) to 2nd place. While Exxon scored 80% in 2005, it only achieved 68.1% this year, owing to gaps in reporting and thus dropping it from 2nd to 9th place in 2006. Exxon gives little information on employee performance measurement systems, supplier management, and is not listed in the FTSE4Good or Dow Jones Sustainability indices.

Other companies are improving their transparency. Russia's Lukoil manages to raise its total score by 23 percentage points from 35% to 58.61%, or a jump of 67%. In September 2005 Lukoil released its first sustainability report, which more than doubled its transparency score from 29% (2005) to 62% (2006).

Management & Excellence (M&E) was one of the first companies to research and rate companies in sustainability and ethical areas, specializing in the oil business and Latin America. The current study "World's Most Sustainable and Ethical Oil Companies" analyzes companies according to their actual compliance with over 280 internationally recognized standards in sustainability, corporate governance, social responsibility (CSR) and ethics customized to the oil industry.

Related Companies
 Company: BP plcmore info


 - Unite Expresses Concern Over Possible Forties Pipeline System Sale (Mar 17)
 - BP Appoints New Heads Of Production, Drilling As Output Set To Jump (Mar 16)
 - Wood Group Wins Mad Dog 2 Contracts (Mar 14)
 Company: Exxon Mobil Corporationmore info


 - Gulf Of Mexico Lease Sale Nets $315M in Bids, Feds Suggest Trump Bounce (Mar 22)
 - Oil Giants Upending Shale Turf Where Wildcat Drillers Once Ruled (Mar 21)
 - ExxonMobil Agrees to Buy 25% Stake in Mozambique's Area 4 Block (Mar 9)
 Company: Lukoilmore info


 - Lukoil Finds Oil at Iraq Well (Feb 22)
 - Lukoil: CEO, VP Sell $34 Million Worth Of Shares (Dec 30)
 - Sources: Russia's Lukoil Appoints New VP For Sales And Supplies (Dec 27)
 Company: Norsk Hydro ASAmore info


 - Sentry Petroleum Appoints Former Norsk Hydro Analyst to Board of Directors (Dec 29)
 - Hydro Under Investigation for Former Libya Oil Operations (Oct 7)
 - SeaBird First Contract Award for SeaBed Operations (Apr 28)
 Company: OAO Gazprommore info
 - Gazprom, CNPC Broaden Strategic Energy Cooperation (Feb 16)
 - Russia's Gazprom Calls For Urgent Gas Investment Decisions In Europe (Jan 24)
 - Gazprom Chairman, Moldova President Discuss Gas Cooperation (Jan 18)
 Company: Petrobrasmore info


 - Petrobras Raises Asset Sale Goal To $21B For 2017-2018 Period (Mar 22)
 - Petrobras Resorts To Top Court To Free Divestment Plan (Mar 17)
 - CFO: Brazil's Petrobras Confident Accounting Practices Correct (Mar 8)
 Company: Shellmore info


 - Gulf Of Mexico Lease Sale Nets $315M in Bids, Feds Suggest Trump Bounce (Mar 22)
 - Norway Awards 56 Oil And Gas Licences In Mature Areas (Jan 17)
 - Southern North Sea Special Interest Group Launched (Nov 21)
 Company: Statoilmore info


 - Statoil Exec: Effective Leaders Should Empower People and Machines (Mar 24)
 - Statoil Makes North Sea Oil, Gas Discovery (Mar 24)
 - Gulf Of Mexico Lease Sale Nets $315M in Bids, Feds Suggest Trump Bounce (Mar 22)
 Company: Total S.A.more info
 - Total Starts Up Moho Nord Deep Offshore Project (Mar 15)
 - Chevron Commences Oil, Gas Production from Angola Project (Mar 9)
 - Oil Majors Still Years From Repairing Balance Sheets After Price War (Mar 8)
 Company: ConocoPhillipsmore info


 - ConocoPhillips CEO Talks Talent Shortage and Learning in the Downturn (Mar 7)
 - Shell Shuns New Oil Sands as Low Crude Prices Force Cost Control (Feb 27)
 - Origin To Take A$1.9B Charge On LNG, Exploration Assets (Feb 15)
 Company: Chevron Corporationmore info
 - Gulf Of Mexico Lease Sale Nets $315M in Bids, Feds Suggest Trump Bounce (Mar 22)
 - China's Sinopec Buys First Major African Refinery In Chevron Deal (Mar 22)
 - Oil Giants Upending Shale Turf Where Wildcat Drillers Once Ruled (Mar 21)
 Company: ENImore info


 - Nigerian Court Overturns Seizure Of Oilfield From Shell And Eni (Mar 17)
 - Zohr to Start Gas Production This Year (Mar 15)
 - ExxonMobil Agrees to Buy 25% Stake in Mozambique's Area 4 Block (Mar 9)
 Company: PETRONASmore info


 - TransCanada Seeks Pipe Approval Linked To Petronas LNG Terminal (Mar 20)
 - PETRONAS CEO: Industry Needs to Advocate for Benefits of Gas (Mar 8)
 - Malaysia's Petronas Says RAPID Project Remains On Track (Jan 27)
 Company: Pemexmore info


 - Mexico's Pemex Sharply Reduces Losses as Oil Prices Rise (Feb 27)
 - Mexico's Pemex Jan Crude Output Drops 10.6 pct from A Year Ago (Feb 24)
 - What's Next for Mexico's Energy Sector? (Jan 12)
 Company: Repsol more info
 - Spain's Repsol Aims To Cut Debt By A Further 16% In 2017 (Feb 23)
 - Poll: US, Foreign Oil Companies to Prosper in Trump's USA (Nov 10)
 - European Industry Says Trump Must Define Energy Policy (Nov 9)
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
HSE Training / Advisor
Expertise: Environmental, Safety & Training|HSE Auditing|HSE Manager / Advisor
Location: Midland, TX
 
Health, Safety, Security, & Environmental (HSSE) Manager
Expertise: Environmental, Safety & Training|HSE Manager / Advisor
Location: Bedford, KY
 
Geologist / Environmental Engineer
Expertise: Environmental Engineer|Geologist
Location: Atlanta, GA
 
search for more jobs

Brent Crude Oil : $50.56/BBL 0.15%
Light Crude Oil : $47.7/BBL 0.70%
Natural Gas : $3.05/MMBtu 1.32%
Updated in last 24 hours