ExxonMobil Corp. executive vice president René Dahan raises some interesting points. "No company operates in a vacuum. Each of us in private industry has a role to play in dealing with the tensions of existing conflicts," he told International Chamber of Commerce members last month while in Denver. "More importantly, we are expected to help create conditions that will reduce the likelihood of future conflict. Our role in this is to address the aspirations of people everywhere for peace and prosperity-or perhaps more relevantly, for peace through prosperity." Creating prosperity is a fundamental role of business, and private enterprise has been the most adept of any institution at creating a better material life and solving problems for more people, Dahan says. Nevertheless, there are those who suggest this contribution occurs as a consequence of a primary goal of making profits. "In this view, the search for profits limits a willingness to address broader social issues, particularly those brought about by conflicts," says Dahan. "Our answer to this is straightforward: Business enterprises are, at base, neither philanthropic nor peacekeeping organizations." ExxonMobil makes more than $100 million of philanthropic contributions annually worldwide because it is profitable, he maintains. "We are able to invest a great deal more than this in local economies and provide uncounted jobs because we make money. But it also is a sometimes forgotten, or possibly ignored, truth that if a company fails to respect the priorities, values and market that make it successful, it will fail not only in its primary mission, but be unable to assist in other areas as well." Conflict and instability can threaten not only a country's safety and well-being, but also the success of businesses operating there, he adds. Many companies simply choose to stay away from extremely difficult business environments. Others identify and analyze risks and develop plans to deal with them if they materialize. These companies consider this a part of operations. In return, countries recognize that an outside companies' employees and assets must be secure, and dealings are fair, honest and free of corruption. That includes not asking a foreign company to wink at dubious practices that are accepted or expected. "Repeatedly, we have seen an improvement in [social] conditions go hand in hand with a reduction in violence. In my view, we have helped the situation by staying away from a highly political role, by avoiding religious bias, by guarding against moral arrogance and by treating people fairly and equally."
Recommended Reading
TotalEnergies Restarts Gas Production at Tyra Hub in Danish North Sea
2024-03-22 - TotalEnergies said the Tyra hub will produce 5.7 MMcm of gas and 22,000 bbl/d of condensate.
Rystad: More Deepwater Wells to be Drilled in 2024
2024-02-29 - Upstream majors dive into deeper and frontier waters while exploration budgets for 2024 remain flat.
Deepwater Roundup 2024: Americas
2024-04-23 - The final part of Hart Energy E&P’s Deepwater Roundup focuses on projects coming online in the Americas from 2023 until the end of the decade.
Deepwater Roundup 2024: Offshore Africa
2024-04-02 - Offshore Africa, new projects are progressing, with a number of high-reserve offshore developments being planned in countries not typically known for deepwater activity, such as Phase 2 of the Baleine project on the Ivory Coast.
Chevron, Total’s Anchor Up and (Almost) Running
2024-05-07 - During the Offshore Technology Conference 2024, project managers for Chevron’s Anchor Deepwater Project discussed the progress the project has made on its journey to reach first oil by mid-2024.