ABSTRACT
This chapter provides an overview of corporate social responsibility (CSR) best practices in the oil and gas sector with particular attention to CSR in newly emerging oil and gas economies. It focuses on the upstream oil sector, although many of the principles and concepts discussed would equally apply to the downstream oil sector as well. Social and environmental issues touched by the oil sector are best addressed through joint collaboration by the oil industry and government, based on respect, mutually agreed objectives and a clear delineation of roles and responsibilities. Most oil companies use some variation of the project or business life-cycle as part of their business and financial planning to develop a potential production site. The business life-cycle has important implications for helping governments understand what should be their approach and expectations in working with oil companies to effectively define an effective CSR policy throughout the life-cycle of an oil and gas operation.
