The oil industry holds a major potential of hazards for the environment, and may impact it at different levels: air, water, soil, and consequently all living beings on our planet. Despite its potential treats to the environment, the oil industry plays a positive role in society as well.
Four aspects of specific environmental issues are found in the upstream oil sector: environmental management systems, environmental impact assessments, regulation and compliance, and CO2 emissions and climate change.
Therefore, oil companies may profit even more and in different ways by adopting pollution prevention practices. However, many companies in the oil business are still not adopting pollution prevention practices. Their environmental policies are oriented towards the compliance of rules established by environmental authorities, which reflects an End of Line Control corporate culture as well as a reactive approach to environmental management.
Environmental Impact Assessment (EIA) is a procedure whereby the significant environmental impacts of a proposed development project are assessed prior to activity taking place. EIA has the potential to be a powerful tool to ensure that the environmental and cultural impacts of proposed development activities are assessed, considered in decision-making, and mitigated. While the features of EIA vary between jurisdictions, there are a number of common elements. These are: