As a global company, we conduct our business operations with a diversity of suppliers, who provide a wide range of goods and services from all corners of the world
International shipping terminal
We recognize the critical importance of the supply chain and its impact on meeting the energy needs of the global economy, and we take responsibility for our role in it.
We acknowledge the value of not just bringing in suppliers to get a job done but choose to integrate them from the beginning of a project to foster a continued working relationship.
Much of our business success is a reflection of our relationships with our suppliers. We partner with suppliers based on:
Quality of products and services
Reliability and competitiveness of price
Attention to detail and consistency for timeliness
Reputation and performance including anticorruption and other good business practices
Health, Safety and Environmental management processes
Long-range dedication to the energy industry and to the communities we serve
Ability to establish and maintain long term contractual agreements
By applying best practices to our supply chain approach, we help ensure a positive impact in the communities in which we operate: In 2023, on average 82% of our procurement spending went to local suppliers.
We engage suppliers that comply with local laws, provide opportunities for locally sourced goods and services, and look to create opportunities for historically underrepresented groups. This is core to who we are and how we operate as a company.
We are committed to supporting local development in our operations through our supply chain.
Region
% of procurement spent to local suppliers in 2023
Central & South America
76%
Middle East
84%
Europe
76%
We ensure all of our suppliers meet or exceed our environmental, health, safety, and performance expectations.
Our Supply Chain is governed by policies and procedures to ensure that all goods and services required are:
- Procured in a fair and ethical manner
- Comply with the legal, technical and socio-environmental and safety standards essential to successful operation
- Follow mandatory anti-corruption due diligence through the FCPA as well as unsanctioned international boycott laws
We cultivate mutually beneficial relationships with a diverse supplier base.
We are committed to the growth and success of diverse businesses in our global supply chain.
Compliance is a critical part of our operation and the management of our supply chain. We conduct consistent and planned audits with a select number of suppliers for contract compliance.
- We regularly audit pricing, safety, drug and alcohol policy compliance, invoicing and third-party supplier expenses.
- We proactively audit contract management practices to ensure contractual obligations are met.
- Suppliers not meeting our expectations may be subject to supplemental training and/or contractual remedies, including termination.
