Shell Named Most Responsible, Sustainable Oil Co.

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Shell Named Most Responsible, Sustainable Oil Co.

MADRID, Spain -- Shell is the world's best oil company in sustainability, social responsibility, corporate governance, ethics and transparency, according to the fourth annual oil/gas ranking by the sustainability research and ratings firm, Management & Excellence, based here.

Shell has received the top honor for all four years, with its compliance score of 90.16 percent for 2007. The number two and three places went to Petrobas and Total, respectively.

BP came in fourth on the list, slipping some spots after the Texas City refinery explosion and Baker report, which found all five of BP Plc's U.S. oil refineries had significant safety problems due to company complacency.

The annual ranking measures companies' compliance with 386 international standards, including the Securities and Exchange Commission, Sarbanes-Oxley, national laws, the Dow Jones Sustainability Index, Organisation for Economic Co-operation and Development (OECD), industry benchmarks, Global Reporting Initiative (GRI), International Labour Organization (ILO), International Organization for Standardization (ISO), the World Conservation Union (IUCN), reserves accounting, Global Compact, Millennium Goals, and others.

Filling out the list of ten most responsible and sustainable oil and gas companies were:

-- No. 5: Repsol
-- No. 6: ENI
-- No. 7: ConocoPhilips
-- No. 8: OMV
-- No. 9: Pemex
-- No. 10: Lukoil

In other Shell news, Shell Oil president, John Hofmeister, told attendees at the Greater Omaha Economic Development Partnership last week that "Terror-Free" Oil may be a hard claim to live up to, reported KETV, a local television station.

The president was responding to a new gas station that opened in the area earlier this month. Called Terror Free Oil, the gas station, and the group that runs it, claim to not buy gasoline from suppliers that use oil from the Middle East. Hofmeister said it is hard to know exactly where oil comes from once it reaches trading markets.

"Once it gets into the global trading market, it's just oil. Whether it's sourced from Venezuela or Mexico or Canada, it's really hard to track it. It can be tracked, and it's very hard, and most people don't track it," said Hofmeister.

A manager from the oil company that supplies the station told the station that some of the company's oil is bought on the New York Mercantile Exchange, where oil from across the globe is traded.

Hofmeister was in Omaha as part of Shell's 50 city tour where he would address energy issues, the report stated.