Ethical Dilemmas in Oil & Gas Procurement: A Systematic Literature Review

This systematic review delves into the significant ethical dilemmas prevalent in Oil & Gas procurement, focusing on bribery, fraud, and conflicts of interest. It analyzes how these unethical practices negatively affect corporate performance and erode stakeholder trust. The review explores potential solutions, including stricter regulatory frameworks and the implementation of value-based management. The role of the Sarbanes-Oxley Act (SOX) in promoting ethical procurement is also considered. Furthermore, the integration of AI, blockchain, and IoT offers unprecedented opportunities to cultivate ethical conduct throughout the supply chain. However, it is essential to proactively mitigate potential risks related to data privacy, security, and algorithmic bias. By leveraging the synergistic power of these 3 technologies, the Oil & Gas sector can move towards a better ethical procurement future, characterized by more transparent, accountable, and ultimately, responsible supply chains.