MONITORING THE ENVIRONMENTAL ASPECTS AS PART OF SUSTAINABLE DEVELOPMENT IN THE OIL INDUSTRY

Madalina Albu ()
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Madalina Albu: Petroleum-Gas University of Ploiesti, Romania

Contemporary Economy Journal, 2020, vol. 5, issue 3, 124-129

Abstract: The oil industry is among the industries with a high risk of pollution. The potential negative consequences of this indispensable economic activity have similar causes in all the oil regions, its dimensions differing from one area to another, depending on the technologies used and the compliance with the environmental regulations in force. Sustainability of companies in the oil industry means practicing responsible, efficient and innovative management that manages to keep under control and continuously monitor the problems related to possible environmental risks. Monitoring of environmental issues must be integrated into the sustainable development strategy at the level of management of all companies in the field. This paper synthesizes a series of arguments that come to certify the opportunity of integrating environmental aspects, in particular their monitoring, into the strategy of sustainable development of companies in the oil industry.

Keywords: environment; sustainable development; oil industry (search for similar items in EconPapers)
JEL-codes: L71 Q01 Q56 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:brc:brccej:v:5:y:2020:i:3:p:124-129

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