Nexus between Western and Chinese crude oil mining firms: An examination of modalities, practices, and socio-ecological ramifications

Abstract

This study examines the operational methods, procedures, and socio-ecological impacts of Western and Chinese crude oil extraction industries, focusing on regional variations. Due to institutional dynamics, the study reveals distinct emissions patterns among state-owned sectors in China and the Western Union region. This was achieved by employing DID regression models, using a sample of 60 crude oil mining companies. Furthermore, the data demonstrates that intensifying research and development endeavors directly correlate with pollution reduction, indicating that technological advancements could foster a greater sense of environmental consciousness. Nevertheless, larger corporations emit more pollution, substantially utilizing resources and manufacturing. Both nations prioritize the government's role in reducing negative environmental impacts caused by pollution by implementing regulatory frameworks. Additionally, they focus on achieving long-term ecological sustainability through corporate social responsibility (CSR) initiatives. The paper suggests government involvement is necessary to enhance socio-ecological conditions at crude oil mining sites in Western and Chinese regions.