Report on Oman LNG Company

Executive Summary of LNG Company in Oman

In this study the discussion has bene made on the Oman LNG Company. The Oman LNG LLC is a limited liability joint project formed by Royal Decree in 1994 and regulated by the regulations of the Sultanate of Oman. The company has been manufactures and markets liquefied natural gas (LNG) and by-products, natural gas liquids (NGL). Moreover, in this it has also been mentioned that being the leader within the social corporate responsibility the company expand their investment strategy. As well as the company has been working in the Framework works on four foundations of progressive social growth. Furthermore, the company appreciates Oman LNG for just the effective sponsorship of the Organization, which lets us represent rural communities throughout the Sultanate. The Oman LNG acknowledges the value of the protection of cultural resources. OLNG is dedicated to the restoration of the traditional Bibi Miriam temple in Qalhat. As well as in the study it has been stated that the company promotes new and creative approaches of primary and education and acknowledges the need for unique work skills. In cooperative projects with governmental and semi-governmental organizations, we provide specialized training in jobs in fields where the scarcity is highest, including professions such as assembling and construction, associate physicians, knitting, etc. despite form this company holds and works  the ethics as well as the business openly supports corruption officials in Third World nations, all of which support private abuse for a variety of motives.

Oman LNG Company

The Oman LNG LLC is a limited liability joint project formed by Royal Decree in 1994 and regulated by the regulations of the Sultanate of Oman. It manufactures and markets liquefied natural gas (LNG) and by-products, natural gas liquids (NGL). The corporation carries out, explicitly or indirectly, the plant activities and operations required for the liquefaction, extraction, distribution, and marketing of crude oil. The corporation is located in Muscat and runs three gasification trains at its position in Qalhat, close South Sharqiyah: Two are operated by Oman LNG LLC and the other is an asset of Qalhat LNG (Khan, 2016). 

Corporate Social Responsibility of Oman LNG Company

As a leader in Corporate Social Responsibility (CSR) in Oman, the Oman LNG has an extensive investment strategy that utilizes its Collective Funds towards initiatives in its indigenous communities in regions near its company, its regional funds for initiatives in various regions. And the U.s distributes contingency assets to guarantee the viability of the Program in the potential. Oman LNG celebrated the 3rd milestone of the founding of the Oman LNG Development Foundation (ODF). 1 July signals the launch of the organization's pioneering corporate social responsibility (CSR). CSR became an important part of Oman LNG intending to generate measurable benefits for Oman as well as its workers from social engagement. Oman LNG typically receives 1.5 percent of the total post-tax profit (NIAT) for numerous social benefits and sustainability services. Until the first shipments departed the LNG (Liquefied Natural Gas) refinery in late 2000, the organization engaged in sustainable development ventures. (Vaferi, Ghaderi, & Jeevan, 2017)The Framework works on four foundations of progressive social growth. The first cornerstone is Corporate Social Responsibility, a Regional Fund that supports projects specific to the Southern Region, which is host to the first three-train liquefaction project, a state fund that funds social welfare services throughout the world. Wide size and balance of funds to maintain stability and continuity. The second dimension brings importance to Oman LNG. The third pillar protects the prosperity across collaboration and innovation. And ultimately, fourth, a hub of expertise that helps us to establish CSR programs. ,The foundation supports the company's strong degree of CSR operation, in-depth analysis and execution performance, which has been recognized both local and international. Most importantly, in 2017, the Company won the Majesty Sultan Qaboos Award for Charitable Service as the Highest Corporate Social Responsibility Business, the greatest achievement in term of CSR earned in the Sultanate. The business is also recognized as the strongest public investment organization in the Middle east in the "Arab Finest" award. At its introduction, a special CSR concept has been launched internationally and portrays Oman at crucial events and outstanding encounters such as the International community and the Global Gas Meeting, all of which have occurred this year.

"The Organization supports corporate social responsibilities and the interest of the nation. The company appreciates Oman LNG for just the effective sponsorship of the Organization, which lets us represent rural communities throughout. (Carol , 2016) The organization also offers skills to oversee major ventures and initiatives efficiently and protect the interests of the foundation for the future decades. Deliberate capacities of company’s Corporate Social Responsibility programs are:

Health of LNG Company in Oman

Education is a prerequisite from a young age to remain socially successful. Oman LNG's main development in its local communities was to construct and create $48 million hospitals to support the whole country. Ever since, the company has sponsored advanced genomic research labs to help recognize and popular inherited disorders, buy the new cancer detection tools and revolutionary diagnosis and recovery systems for traumatic brain injuries. Local rehabilitation center with advanced ear, throat and lungs care (ENT) and dental services for the vulnerable, along with a mobile hospital for the diagnosis of the elderly. Preventive steps are often necessary in order to maintain healthy safety. Our organization has established the first woman's recreation center in Sur to encourage health and wellness in an atmosphere that honors cultural traditions.

Education of LNG Company in Oman

Training is a critical step for economic excellently-being and personality-sufficiency. They has been at the frontline of the Smart Classroom, which would be focused on the newest machine-driven teaching technologies and mobile device labs who want to go to faraway classrooms, and also the specialized laboratories that we desperately need without the new technology for recently developed technical colleges.

Employment Skills & Local Enterprise of LNG Company in Oman

Oman LNG promotes new and creative approaches of primary and education and acknowledges the need for unique work skills. In cooperative projects with governmental and semi-governmental organizations, we provide specialized training in jobs in fields where the scarcity is highest, including professions such as assembling and construction, associate physicians, knitting, etc. They have facilitated and funded local organizations to turn local expertise into productive enterprises. Examples involve reproductions of fishing boats, (George & Skouloudis, 2018) Omani silver embossed handles, woven goat cotton key chains and Omani-inspired monogrammed bags. Rural areas threatened by shortage of agricultural land have been funded by the adoption of agricultural initiatives, such as the local production of sugar or honey bees.

Fishing-rods, not Fish of LNG Company in Oman

Fisheries, a typical business in Oman for decades, remain the biggest source of jobs and wages for up to 70% of employees in the South. Cultural farming activities have sustained these societies with abundant and productive fishing grounds. Today, nevertheless, the lives and families are endangered by more advanced farming techniques and malnutrition due to under-fishing by broad searches. Oman LNG's first phase was to conduct a viability review to find feasible and commercially viable alternatives.

Culture & Heritage of LNG Company in Oman

The Oman LNG acknowledges the value of the protection of cultural resources. OLNG is dedicated to the restoration of the traditional Bibi Miriam temple in Qalhat, the development of museums of heritage and crafts, the revival of the building of traditional downs and the promotion of soapbox derby and classical downs in Sur last year. We are always honored to be a frequent supporter of popular music and mythology.

Sports & Recreation of LNG Company in Oman

Activity and recreation are important to healthy health, and involvement is a "practice" that grows better at an early age. These these purposes, we are a consistent and frequent supporter and promoter of competition in their host societies.

Environmental Protection of LNG Company in Oman

Oman is host to the world's biggest sea turtle training literature; Oman LNG is the chief supporter of the Ras Al Jinz Turtle Study and Exhibitions Centre. This center draws researchers and visitors from all over the planet who are closely supervised by trained forestry guard. They are the main member of the Sustainable System of Oman (ESO). The programs of ESO vary from the conservation of indigenous biodiversity to the implementation of waste management, reuse and recycle initiatives. The most current initiative is the Oman-wide "Carrier bag'' Removal Drive."

Emergency Responsiveness of LNG Company in Oman

Cyclone Guno struck Oman in June 2007 to catastrophic consequences, targeting civilians and burning dwellings and facilities. In an extraordinary move, Oman LNG has abandoned semi-essential research and organized its workers to fulfill the basic necessities of the areas affected. The company's profit commitments have been raised fivefold. (Wajeha, 2019) As a last measure, $13 million has been invested with the Sultan Fund to support those who are most impacted by typhoon.

Reserve Fund of LNG Company in Oman

Oman LNG understands the value of planning for the future and places approximately 35% of the overall annual SIP contribution into its contingency funds to guarantee the potential stability and survival of the scheme.

Business Ethics of Oman LNG Company

Oman LNG offers an environment for workers who meet with legal responsibilities. Corporate Social Accountability for the well-being of workers and the community is taken out by the business. The Code of Ethics shall be established to conform to ethical responsibilities. The code is an example of our core principles and offers a foundation for choice-making. To this end, it is the duty of the System and its staff to behave accordingly. The Code does not include all existing statutes, guidelines, or legislation or does not address any queries. They are doing the right thing; whether it is necessary to try that out, it often requires guidance from others on the actions of each employee who will focus on rational thinking. Enforcement has been highly essential to companies. "The organization and openness to protect workers' privileges are part of this program (Salmi, 2019).

Bribes and corruption are endemic among developed countries. Oman LNG claims that the only way to get stuff finished is to pay for the bribe. The business openly supports corruption officials in Third World nations, all of which support private abuse for a variety of motives. First of all, these are strictly financial factors. Bribes may prevent shortages that would otherwise have severe financial implications. Within a capitalist world, we expect a fair playing field, so as certain firms cheat, we do so or we are met with a competitive disadvantage. Second, due to the subjectivity of corrupt practices in Underdeveloped countries, there are practical concerns (Minnee, 2013). International policy leaders are frequently so crooked that it is practically difficult to do business without dealing with secret laws. There was nothing wrong with engaging in abuse. The organization is dedicated to compliance with the financial market Authority requirements and instructions for the dissemination of sensitive details. It undertakes to conform to the regulations of the communications regulatory authority. The annual financial statements shall be drawn up in compliance with the International investment Reporting Principles and the accounting criteria set out from the disclosure requirements and forms issued by the CMA and shall conform to the provisions of the 1974 edition of the Corporations act. Over the decades, the organization has earned a rising array of distinctions. According to a report by Brand Financial, one of the world's largest independent experts on fixed assets and brand equity, Brand Investment banking has retained its status as the most important brand in Oman. Oman LNG was called the greatest-performing firm in the Muscat stock industry by the Oman Financial Review for both the 10th time in a row.

As the sequence of high-profile lawsuits towards all sectors of LNG in Oman strongly illustrates, the sector is the predominant focus of Combined States law compliance authorities applying the International Corrupt Procurement Act and relevant anti-corruption initiatives. While enforcement regulation is not confined to the gas industry, the compliance of the FCPA appears to be robust in the area and showing no signs of deterioration in the immediate future. Queries to employ an Oman LNG cannot be mistaken with legal local content criteria. In recent years, local content has been relatively popular in petroleum-rich developed nations to be part of new supply. The degree of online content needed will vary from deals for the usage of small independent workers (roustabouts, operators, maintenance staff, etc.) to late-level management roles (ship supervisors, sample collectors, administrators, etc.) in more specialized positions, knowledge transition or other essential specialized roles Learning and skills (geophysicists, meteorologists, etc). 

References of LNG Company in Oman

Carol , T. (2016). Corporate social responsibility research: the importance of context. International journal of corporate social responsibility , 2.

Corporate Social Responsibility (CSR) Activities of Selected Companies at Sohar Port, Oman. (2016). International Journal of Management, Innovations & Entrepreneurial Research, 01-12.

George, H., & Skouloudis, A. (2018). Corporate social responsibility and innovative capacity: Intersection in a macro-level perspective. Journal of cleaner production, 291-300.

Khan, F. R. (2016). CORPORATE SOCIAL RESPONSIBILITY (CSR) ACTIVITIES OF SELECTED COMPANIES AT SOHAR PORT, OMAN. Research Gate.

Minnee, F. (2013). Exploring corporate responsibility in Oman – social expectations and practice. Social Responsibility Journal.

Salmi, H. A. (2019). A Comparative Case Study on Accountability of Corporate Social Responsibility (CSR) Practices in Oman Lng and Omifco at Sur City in Oman. Humanities & Social Sciences Reviews.

Vaferi, M., Ghaderi, H., & Jeevan, J. (2017). The impact of low-sulphur fuel requirements in shipping on seaport competitiveness: a study on LNG bunkering in Dubai, UAE and Sohar, Oman. Ocean Yearbook Online , 502-524.

Wajeha, A. A. (2019). Promoting Islamic Philanthropy: The Case of Sultan Qaboos Award for Voluntary Work in Oman. nternational Journal of Social Work and Human Services Practice, 1-17.