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Why is the Oil Industry and Corruption so closely linked - Research Paper Example

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For many years now, Transnational Corporations (TNCs), the Multinational corporations and institutions which do work together with them have for many years been targeted for negative and anti- corporate campaigns mainly by the civil society actors which does includes the anti-corruption campaigners, anti-corporate campaigners, anti-globalist and anti-capitalists and academics in spite of their apparent contribution towards the development of the society…
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Why is the Oil Industry and Corruption so closely linked
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Why is the Oil Industry and Corruption so closely linked

Download file to see previous pages... It has been alleged that these TNC and The MNC are always on the move to increase their market profits and to an exceptional gain competitive advantages, this they achieve by indulgence in unscrupulous activities like money laundering, corruption, bribery and many other malpractices showing little appreciation for social requisites and laws. These corporations have covered their community relations by hiding under the claims of being socially responsible and of the reputable ethical conduct, although the evidence in this paper proves the otherwise. The present decade is however no exception bearing in mind the tendency in the relationship in between these corporations and the civil society actors, the emergence of collaborative relationships, only benefit the business’s image than it does to the community society, it is however, unfortunate that even the media and the already published literature seldom examines greedy practices of corporations despite the fact that, the practices impact negatively on the stakeholders. This has resulted into several ethical questions on the real intentions and practices of the leaders in these corporations, the efficacy of their public association’s campaigns and the strategic location of the various civil society actors. This paper answers various arising questions by giving a thorough examination of the activities of an oil corporation, Shell, and looking into its relationship with communities in Niger Delta, Nigeria, it also looks into loop holes existing corporate anti corruption and acts, it goes ahead to show that companies really engaged in corruption and various malicious money laundering claiming that it is part of them being responsible social conduct. Purposely paying a close attention to Shell’s corporate social responsibility (CSR) initiatives which were aimed at developing the communities of Niger Delta. The case study is founded on both secondary and primary sources that included field observations and interviews with some key executive members of the corporation, local communities, government officials and some senior members of the oil companies in the Nigeria’s Niger Delta area. The paper argues that the corporations have made use of the political elite in the country to expand their global earnings and to gain competitive advantages by unscrupulous means such as bribery and other inducements to attain some government contracts in Niger Delta area, Nigeria. 1. Introduction A sector of business which makes firm claims to business ethics, Transparency, stakeholder’s rights, Employee rights, Corruption and human rights and codes of practice can safely be said to be the oil sector (Lawan 98). Oil Corporations are very dynamic and have leadership roles in coming up with allowable corporate practices and key acceptable codes of conduct in various places of work and involvement with various facets of the community. The involvement of Shell, in the famous Voluntary Principles on Security, United Nations’ Global Compact, and Human Rights, are just some instances. Its contribution towards the development programmers in construction, education, Transport and health, etc, cannot be underestimated. In spite of these contributions and achievements to the society, like many other corporations it has targeted of many negative or anti-corporate campaigns, such as corruption in the past few decades. Most civil society actors, including the anticorruption, anti-capitalists and anti-corporate ...Download file to see next pagesRead More
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