The Political State Owned Oil Giant And Its Negative...

In addition to the challenging economic policy issues it is confronting, Brazil has simultaneously been in a very fragile political state ever since the Petrobras scandal investigation, known as Operation Lava Jato (Carwash), was initiated in 2014. In order to appreciate the significance of the Petrobras scandal and its negative impact on the people’s trust, it is important to comprehend the significance of Petrobras, the state-owned oil giant, and its role in Brazilian society. In Galster’s 2009 article, he discusses the nationalization of the oil industry in Brazil, the creation of Petrobras, and how it acquired its power and political influence. Galster emphasizes how the oil industry barely existed fifty years ago, and that it became very successful due to shrewd policies, such as keeping up to date with the latest technologies and implementing free market mechanisms. Also, Petrobras is a multinational oil company controlled and majority owned by the Brazilian fe deral government, but it is traded on the stock markets around the world, unlike most other Latin American countries (Galster, 2009). In 2014, the Petrobras scandal became a cataclysmic news event in Brazil when investigators discovered that Petrobras managers were making bribes with governmental figures for political power by using money from the business. These events occurred during the time in which Brazil’s current president, Dilma Rousseff was the President of the Board of Directors of Petrobras. InShow MoreRelatedThe Industrial Revolution : The Iron Company Known As Standard Oil Co. Inc.2602 Words   |  11 Pagescompany known as Standard Oil Co. Inc., and its head, John D. Rockefeller, Sr., grew to become, arguably, the most powerful symbol of capitalism in the United States of America. At the top of the nation’s industrial hierarchy was the mysterious, controversial figure held in contempt by millions of Americans in his greatest years. A thief, monster, and a number of other hateful names were given to the brilliant, sly mind monopolizing the oil industry, as Rockefeller and Standard Oil and sat leagues aboveRead MorePower and Energy Crisis of Bangladesh13714 Words   |  55 PagesDhaka installed a small generator in his residence Ahsan Monjil and started generating power at 5pm on 7th of December 1901, which is considered as the introduction of electricity in the then Dhaka city. Later, in and around 1930, M/S. DEVCO, a subsidiary of M/S. Octavians Steel Company, developed electricity distribution system at 400V level under complete private ownership and brought that for public use. Most probably in the year 1933 a power generating station named Dhanmondi Power HouseRead MoreCorporate Social Responsibility And Business Ethics8391 Words   |  34 Pagesbribery, should not unlawfully use copyrighted material. On the other hand, CSR is a multidimensional aspect. It is essentially how sensitive an organisation is towards its responsibilities towards the community and people or partners associated with it. For example, opening a charitable trust, providing good quality products and services to the community. India became the first country to mandate corporate social responsibility by law after including the requirements related to it in Companies Act,Read MoreCNPC CSR report25861 Words   |  104 Pagesopinions and actively responded to the concerns of all stakeholders. References: The Guideline on Fulfilling Social Responsibility by Central Enterprises issued by the State-owned Assets Supervision and Administration Commission. We also referred to the Sustainability Reporting Guideline (G3.1) published by Global Reporting Initiative, Oil and Gas Industry Guidance on Voluntary Sustainability Reporting (2010) co-published by the International Petroleum Industry Environmental Conservation AssociationRead MoreWalmart vs Carrefour26545 Words   |  107 Pagesmarket conditions are evolving. To capture greater market share in this market, Wal-Mart and Carrefour adapted their strategies to cater local customers as well as economic and political conditions. Although Wal-Mart and Carrefour in the same market environment, there are still differences between the strategies adopted by each giant retailer. Therefore, it is probably safe to argue that the differences between strategies adopted by the two retailers, to certain extent, are due to their distinct firm-specificRead MoreInternational Management67196 Words   |  269 PagesInc., including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning. Some ancillaries, including electronic and print components, may not be available to customers outside the United States. This book is printed on recycled, acid-free paper containing 10% postconsumer waste. 1 2 3 4 5 6 7 8 9 0 QDB/QDB 1 0 9 8 7 6 5 4 3 2 1 ISBN 978-0-07-811257-7 MHID 0-07-811257-5 Vice President Editor-in-Chief: Brent Gordon Vice President, EDP/CentralRead MoreProcurement in Oil and Gas Industry in Developing Countries Nigeria Agip12200 Words   |  49 PagesProcurement in Oil and Gas Industry in Developing Countries A Case of AGIP Nigeria Name Course Professor Date Abstract This is a thesis about procurement process in the oil and gas industry in Nigeria with specific stress on AGIP Nigerian AGIP Energy and Natural Resource.† The report starts with an introduction to the country Nigeria itself. It develops with the research on the oil and gas sector in the country and then focuses on the AGIP and its operations. Thus the first section comprisesRead MoreWalmart China12415 Words   |  50 PagesAustralian summer, far from the approaching winter back in Bentonville, Arkansas, Wal-Mart’s corporate headquarters in the United States, Foran tried to learn more about why Chan had resigned after only four years at Wal-Mart China’s helm. China promised Wal-Mart a market potential like none seen since the company’s own monumental growth and retail dominance in the United States decades earlier. Was it the pork-labelling probe that temporarily shut all 13 of Wal-Mart’s stores in the southwestern ChineseRead Moreâ€Å"Ratio Analys is and Comparative Study of Financials of Iocl with Its Competitors†13708 Words   |  55 PagesRefineries and Indian Oil Company were combined to form the giant Indian Oil Corporation Limited (IOCL) on 1st September 1964 with its registered office at Bombay. In 1967, the pipeline division of the corporation was merged with the refineries division. Research and Development centre of Indian Oil came into existence in 1972. In October 1981, Assam Oil Company was nationalized and has been amalgamated with IOCL as Assam Oil Division (AOD). â€Æ' †¢ IOCL TODAY Indian Oil is not only the largestRead MoreReport on Oil and Gas Industry in Pakistan81517 Words   |  327 PagesReport No. 26072-PK Pakistan: Oil and Gas Sector Review July 10, 2003 Oil and Gas Policy Division Oil, Gas, Mining and Chemicals Department Private Sector Development and Infrastructure Document of the World Bank Currency Equivalents Currency Unit = Rupees (Rs) Rs. 1.00 = Paisa 100 US$1.00 = Rs. 58.35 * Rs. 1.0 = US$0.017138 Rs. 1,000,000 = US$17,138 *As of December 31, 2002 Measures And Equivalents 1 Kilometer (km) 1 Cubic Meter (m3) 1 Cubic Meter (m3) 1 Thousand Cubic Feet