Abstract
The commitment of national industries to traditional energy sources, as well as constantly growing energy demand combined with adverse environmental impact of petroleum production and transportation urge to establish and maintain an appropriate legal and administrative framework for oil pollution damage compensation. The article considers management strategies for petroleum companies that embrace not only production benefits but also environmental issues.
Highlights
Dependence of many economies on the consumption of traditional energy sources, as well as the limited use of alternative energy sources, makes it necessary to improve hydrocarbon production efficiency both in terms of volume of extraction and environmental impact reduction. The fulfilment of these vital conditions is complicated by fast-developing technologies applied in petroleum industries, which in its turn leads to the increase in natural resource production and technogenic environmental impact
The development of legal and administrative framework for oil pollution damage compensation is related to the distribution and redistribution of entity resources, including oil production companies
The important role of petroleum industry in maintaining the relevant dynamics of the national economy is out of question, the significant environmental damage requires a change in the existing approaches to the production management
Summary
Dependence of many economies on the consumption of traditional energy sources, as well as the limited use of alternative energy sources, makes it necessary to improve hydrocarbon production efficiency both in terms of volume of extraction and environmental impact reduction. It is necessary to develop and establish an appropriate legal and administrative framework for oil pollution damage compensation, suitable for petroleum companies and corresponding environmental organizations.
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