Communicating a Vision for Image through CSR in Oil Industry

Abstract

Shifting contours of the Oil Industry: The Oil Industry in India is mixture of public sector and private sector players. The prominent ones among these companies are ONGC, GAIL, IOCL, HPCL, BPCL, RIL & Essar. All these companies are comparable with each other in terms of turnover, profits and the importance they have in ensuring the energy security of the nation. In fact, RIL has the biggest presence in the minds of investors, business community and institutional stakeholders. The company also has a larger than life image often associated with the entrepreneurial spirit of Dhirubhai Ambani and the somewhat grudging admiration for the present benefactor of that effort, Mukesh Ambani. But, for the retail customer, the millions of homemakers and the large consumer of bulk fuels the three companies IOCL, BPCL & HPCL have a dominant presence too. Collectively known as the Oil Marketing Companies these three have a triopoly of the downstream marketing segment of the industry. This segment is also perhaps the most affected by the policies of the Government. Can the Oil industry in India really use CSR more effectively to project a positive and favourable image of themselves?