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128-727: ConocoPhillips Company is an American multinational corporation engaged in hydrocarbon exploration and production. It is based in the Energy Corridor district of Houston, Texas . The company has operations in 15 countries and has production in the United States (49% of 2019 production), Norway (10% of 2019 production), Canada (5% of 2019 production), Australia (12% of 2019 production), Indonesia (4% of 2019 production), Malaysia (4% of 2019 production), Libya (3% of 2019 production), China (3% of 2019 production), and Qatar (6% of 2019 production). The company's production in

256-595: A 35% stake in three Senegalese deepwater oil and gas exploration blocks for about $ 350 million to Woodside Petroleum . In November 2016, the company announced the move of its headquarters to Energy Center Four by 2018. In February 2017, Ecuador was ordered to pay $ 380 million to the company for unlawfully expropriating the company's oil investments. In March 2017, the company agreed to sell its Foster Creek Christina Lake Partnership interest, Western Canada Deep Basin Gas assets to Cenovus Energy for $ 13.3 billion. Along with

384-542: A French bank, BNP Paribas , to sell all assets, including a 17% stake in Brass Liquefied Natural Gas LNG, Oil Mining Lease OML 131 in which ConocoPhillips had a 47.5% stake. ConocoPhillips operated in Nigeria for more than 46 years. In January 2013, Conoco announced that it would sell its Rocky Mountain assets to Denbury Resources for $ 1.05 billion. In July 2016, the company agreed to sell

512-623: A ballot initiative to limit governors to only eight years in office in a lifetime. The initiative also set the gubernatorial term of a lieutenant governor who becomes governor upon the death of the previous governor at two years. Former governors David Boren (1975–1979) and David Walters (1991–1995) are eligible for second and third terms having only served a single term respectively. George Nigh (1963; 1979–1987), Frank Keating (1995–2003) and Brad Henry (2003–2011) are eligible for third and fourth terms respectively. "I, ........., do solemnly swear (or affirm) that I will support, obey, and defend

640-766: A basis in a national ethos , being ultimate without a specific nationhood, and that this lack of an ethos appears in their ways of operating as they enter into contracts with countries that have low human rights or environmental standards . In the world economy facilitated by multinational corporations, capital will increasingly be able to play workers, communities, and nations off against one another as they demand tax, regulation and wage concessions while threatening to move. In other words, increased mobility of multinational corporations benefits capital while workers and communities lose. Some negative outcomes generated by multinational corporations include increased inequality , unemployment , and wage stagnation . Raymond Vernon presents

768-508: A corporation invests in a country in which it is not domiciled, it is called foreign direct investment (FDI). Countries may place restrictions on direct investment; for example, China has historically required partnerships with local firms or special approval for certain types of investments by foreigners, although some of these restrictions were eased in 2019. Similarly, the United States Committee on Foreign Investment in

896-429: A free market system where there is little government interference. As a result, international wealth is maximized with free exchange of goods and services. To many economic liberals, multinational corporations are the vanguard of the liberal order. They are the embodiment par excellence of the liberal ideal of an interdependent world economy. They have taken the integration of national economies beyond trade and money to

1024-574: A fully integrated oil company. The company was a coal , oil , kerosene , grease and candles distributor in the West. In 1929, Conoco merged with the Marland Oil Company . Marland Oil Company , founded by exploration pioneer E. W. Marland , later acquired the assets of Continental Oil Co.. On June 26, 1899, Marland Oil changed its name to Continental Oil Co. and moved its headquarters to Fargo, North Dakota . The acquisition gave Conoco

1152-465: A general appropriations bill that must be approved by the legislature and signed by the governor. Like the president of the United States, the governor plays a major role in the legislative process. Every bill that is passed by both the Oklahoma Senate and Oklahoma House of Representatives , and every resolution requiring the assent of both chambers of the legislature, must, before it becomes

1280-903: A governor and a lieutenant governor of the same party, as both Governor Kevin Stitt and Lieutenant Governor Matt Pinnell are of the Republican Party . The first instance of an Oklahoma governor serving alongside a lieutenant governor of a different political party began in 1963, when Republican governor Henry Bellmon served alongside Democratic lieutenant governor Leo Winters . Since then, there have been three more instances. In 1967, Republican governor Dewey F. Bartlett served alongside Democratic lieutenant governor George Nigh . In 1987, Bellmon served alongside Democratic lieutenant governor Robert S. Kerr III . Finally, in 2002, Democratic governor Brad Henry served alongside Republican lieutenant governor Mary Fallin . The governor may appoint

1408-432: A law, be presented to the governor. The governor may choose to sign it or veto it and send it back to the legislature. The governor's veto can only be overridden by a two-thirds approval vote from each house. The governor has the power of the line-item veto , which allows them to sign part of appropriation bills into law, while sending appropriations items they disagree with back to the legislature. Items disapproved by

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1536-490: A million troops to help, and by February 1991, Iraqi forces were expelled from Kuwait. Due to the oil boycott from Kuwait and Iran, oil prices rose and quickly recovered. Saudi Arabia once again led OPEC, and thanks to assistance in defending Kuwait, new relations emerged between the USA and OPEC. Operation "Desert Storm" brought mutual dependence among the main oil producers. OPEC continued to influence global oil prices but recognized

1664-507: A result, ConocoPhillips continued its operations as an upstream (exploration and production) company. In April 2012, ConocoPhillips sold its Trainer Refinery to Monroe Energy LLC, a subsidiary of Delta Air Lines . In May 2012, ConocoPhillips completed the corporate spin-off of its downstream assets as Phillips 66 . In 2012, the company began the process of divesting onshore and offshore assets in Nigeria . ConocoPhillips contracted

1792-770: A second phase expansion of the NFE. The NFE expansion is expected to begin production by 2025, and the NFS later in 2028. In year 2023, the Biden administration approved ConocoPhillips' request to drill for oil along the Alaskan coast. In 2023, Conoco purchased another 50% stake in the Surmont Canadian facility from TotalEnergies for $ 3 billion. In February 2024, ConocoPhillips prepared to meet providers of leased floating production, storage and off-loading ( FPSO ) in preparation for

1920-855: A vacancy upon the Oklahoma Supreme Court or on the Court of Criminal Appeals, the Judicial Nominating Committee submits three nominees to fill the vacancy to the governor and Oklahoma Supreme Court chief justice. The governor must appoint one to fill the vacancy within 60 days or the appointment is turned over to the chief justice. The governor also possess the power to grant commutations , pardons and paroles for all offenses, except cases of impeachment , upon such conditions and with such restrictions and limitations as he may deem proper, subject to such regulations as may be prescribed by law. The governor does not have

2048-476: Is designed to provide a glimpse into Oklahoma's history and culture. Artists represented in oil and bronze include N.C. Wyeth , Charles Marion Russell , Thomas Moran and Albert Beirstadt. As per the Oklahoma Constitution , if the governor is impeached, resigns, dies, leaves the state, fails to qualify or is unable to serve, the lieutenant governor fills the vacancy, either temporarily or for

2176-607: Is elected directly by the voters of Oklahoma during gubernatorial elections held in November during the final year of each four-year gubernatorial term. The candidate with the highest number of votes becomes governor following the election. The Oklahoma Constitution requires the Oklahoma Legislature to choose the governor in the case of a tie vote. Section Three of Article VI of the Oklahoma Constitution establishes that gubernatorial candidates must be citizens of

2304-415: Is elected or until the disability is removed from the governor or higher official. However, the emergency interim successor does not inherit the title of governor, unless there is a man-made or natural emergency or disaster has occurred in the United States. The Oklahoma Legislature , by concurrent resolution , may terminate the authority of any emergency interim successor to exercise the powers and discharge

2432-418: Is four years in length. The office was created in 1907 when Oklahoma was officially admitted to the United States as the 46th state. Prior to statehood in 1907, the office was preceded by a presidential appointed governor of Oklahoma Territory with similar powers. The 28th and current governor of Oklahoma is Kevin Stitt , a member of the Republican Party . Before statehood in 1907, modern day-Oklahoma

2560-410: Is often handled through international arbitration . The actions of multinational corporations are strongly supported by economic liberalism and free market system in a globalized international society. According to the economic realist view, individuals act in rational ways to maximize their self-interest and therefore, when individuals act rationally, markets are created and they function best in

2688-534: Is the "conservator of the peace throughout the State," making him or her the chief peace officer in the state. In the position of chief peace officer, the governor commands state and local law enforcement agencies . If law enforcement entities cannot execute the law, then the governor, acting as Commander-in-Chief of Oklahoma's state militia , may call out the Oklahoma National Guard to "execute

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2816-401: Is third in line of gubernatorial succession. If the governor, lieutenant governor, senate president pro tempore, and speaker are unable to act as governor, then the next official in the line of succession becomes the emergency interim successor . As the emergency interim successor to the governor, the officer may exercise the powers and discharge the duties of the governor until a new governor

2944-865: Is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. MNCs may gain from their global presence in a variety of ways. First of all, MNCs can benefit from the economy of scale by spreading R&D expenditures and advertising costs over their global sales, pooling global purchasing power over suppliers, and utilizing their technological and managerial experience globally with minimal additional costs. Furthermore, MNCs can use their global presence to take advantage of underpriced labor services available in certain developing countries and gain access to special R&D capabilities residing in advanced foreign countries. The problem of moral and legal constraints upon

3072-520: The Constitution of the United States , and the Constitution of the State of Oklahoma, and that I will not, knowingly, receive, directly or indirectly, any money or other valuable thing, for the performance or nonperformance of any act or duty pertaining to my office, other than the compensation allowed by law; I further swear (or affirm) that I will faithfully discharge my duties as Governor of

3200-848: The Dutch East India Company (VOC) founded in 1602. In addition to carrying on trade between Great Britain and its colonies, the British East India Company became a quasi-government in its own right, with local government officials and its own army in India. Other examples include the Swedish Africa Company founded in 1649 and the Hudson's Bay Company founded in 1670. These early corporations engaged in international trade and exploration and set up trading posts. The Dutch government took over

3328-519: The Oklahoma Legislature at or adjourn it to another place, when, in his opinion, the public safety or welfare, or the safety or health of the members require it. Such a change or adjournment must be concurred by two-thirds votes in all branches of the legislature. The governor plays an active role within the judicial branch of Oklahoma government. Oklahoma has a Judicial Nominating Commission consisting of thirteen members that review all potential justices and judges of Oklahoma's appellate courts, such as

3456-418: The Oklahoma National Guard when not called into federal use. Despite being an executive branch official, the governor also holds legislative and judicial powers . The governor's responsibilities include making yearly "State of the State" addresses to the Oklahoma Legislature , submitting the annual state budget , ensuring that state laws are enforced, and that the peace is preserved . The governor's term

3584-403: The Oklahoma Supreme Court , and review them to determine if they qualify to hold their respective positions. Of these thirteen members, the governor appoints six without the consent of the Oklahoma Legislature . The governor's appointments serve for a term of six years each; the terms are staggered so that approximately one-third of the appointments become vacant every two years. In the event of

3712-665: The Permian Basin , for $ 9.7 billion. In September 2021, ConocoPhillips announced it would buy all of Royal Dutch Shell PLC's assets in the Permian basin for around $ 9.5 billion in cash. In June 2022, ConocoPhillips became one of the stakeholders in the joint venture with QatarEnergy for the North Field East (NFE) expansion, holding 3.125%, as well as holding 6.25% stakes in the North Field South (NFS),

3840-580: The U.S. Climate Action Partnership in February 2010, at the same time as BP and Caterpillar Inc. left the partnership. ConocoPhillips is a signatory participant of the Voluntary Principles on Security and Human Rights . In 2016, ConocoPhillips was ranked as being among the 12th best of 92 oil, gas, and mining companies on indigenous rights in the Arctic. In May 2020, it was reported that

3968-670: The 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from the Spanish government. Rio Tinto, now based in London and Melbourne , Australia, has made many acquisitions and expanded globally to mine aluminum , iron ore , copper , uranium , and diamonds . European mines in South Africa began opening in the late 19th century, producing gold and other minerals for

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4096-537: The ConocoPhillips oil company. On July 14, 2011, ConocoPhillips announced its intent to separate the company's upstream and downstream businesses into two stand-alone, publicly traded corporations, with the intent of maximizing shareholder value. On May 1, 2012, all midstream , downstream , marketing and chemical operations were separated into a new company named Phillips 66 , headquartered in Houston. As

4224-551: The English language. Senior officials, although mostly still Swedish, all learned English and all major internal documents were in English, the lingua franca of multinational corporations. After the war, the number of businesses having at least one foreign country operation rose drastically from a few thousand to 78,411 in 2007. Meanwhile, 74% of parent companies are located in economically advanced countries. Developing and former communist countries such as China, India, and Brazil are

4352-575: The International Energy Agency (IEA), enabling states to coordinate policy, gather data, and monitor global oil reserves. In the 1970s, OPEC gradually nationalized the Seven Sisters. The Kingdom of Saudi Arabia, as the only largest world oil producer, could leverage this. However, Saudi Arabia opted for the correct approach and maintained consistent oil prices throughout the 1970s. In 1979, the "second oil shock" came from

4480-587: The Isla refinery on Curacao to collect on $ 2 billion owed since a 2007 court decision. In March 2019, the World Bank ruled that Venezuela must pay ConocoPhillips $ 8.7 billion to compensate for the 2007 expropriation of oil assets. In April 2019, the company sold a 30% stake in the Greater Sunrise Fields to the government of Timor-Leste. In September 2019, the company sold its business in

4608-563: The Kashagan oilfield for approximately US$ 5 billion. On August 30, 2002, Conoco Inc. and Phillips Petroleum Company , whose headquarters were in nearby Bartlesville, Oklahoma merged into ConocoPhillips. By January 2002, the groups organizing the merger had selected Houston as the site of the headquarters. The merger brought the two companies' expertise together, allowing the new company to develop megaprojects involving remote natural gas supplies. Governor of Oklahoma Frank Keating said that

4736-511: The Netherlands has become a popular choice, as its company laws have fewer requirements for meetings, compensation, and audit committees, and Great Britain had advantages due to laws on withholding dividends and a double-taxation treaty with the United States. Corporations can legally engage in tax avoidance through their choice of jurisdiction but must be careful to avoid illegal tax evasion . Corporations that are broadly active across

4864-558: The OLI framework. The other theoretical dimension of the role of multinational corporations concerns the relationship between the globalization of economic engagement and the culture of national and local responses. This has a history of self-conscious cultural management going back at least to the 60s. For example: Ernest Dichter, architect, of Exxon's international campaign, writing in the Harvard Business Review in 1963,

4992-785: The Phillips Petroleum Company Museum in Bartlesville, Oklahoma , are dedicated to the history of the company. ConocoPhillips explores for, produces, transports and markets crude oil, bitumen, natural gas, natural gas liquids and liquefied natural gas on a worldwide basis. The company manages its operations through six operating segments, defined by geographic region: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; Asia Pacific; and Other International. Archie W. Dunham , 2002–2004 James J. Mulva , 2004–2012 Ryan M. Lance , 2012– James J. Mulva , 2002–2012 On April 11, 2007, ConocoPhillips became

5120-403: The State of Oklahoma to the best of my ability." The governor, according to the Oklahoma Constitution , must "take care that the laws be faithfully executed." The governor is vested with "supreme executive power " as the state's "Chief Magistrate" and acts as head of the executive branch of Oklahoma. The governor has the power to issue executive orders that have the effect of law. The governor

5248-464: The Third World colonies. That changed dramatically after 1945 as investors turned to industrialized countries and invested in manufacturing (especially high-tech electronics, chemicals, drugs, and vehicles) as well as trade. Sweden's leading manufacturing concern was SKF , a leading maker of bearings for machinery. In order to expand its international business, it decided in 1966 it needed to use

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5376-636: The U.S. applies its corporate taxation "extraterritorially", which has motivated tax inversions to change the home state. By 2019, most OECD nations, with the notable exception of the U.S., had moved to territorial tax in which only revenue inside the border was taxed; however, these nations typically scrutinize foreign income with controlled foreign corporation (CFC) rules to avoid base erosion and profit shifting . In practice, even under an extraterritorial system, taxes may be deferred until remittance, with possible repatriation tax holidays , and subject to foreign tax credits . Countries generally cannot tax

5504-841: The United Kingdom for $ 2.675 billion. For the 2019 Awards in Predefined Areas (APA) on the Norwegian continental shelf (NCS), ConocoPhillips was awarded three operatorships and ownership interests in a total of five production licenses. Two which are located in the Norwegian Sea (PL 1009 B and PL 1064) in Warka and Slagugle, one in the North Sea (PL 917 B) for two discoveries in Busta Voe and Cape Enniberg , and

5632-478: The United States appointed territorial governors to four-year terms. Despite a set term, the governor served at the pleasure of the U.S. president, meaning that the president could replace him before his term was up. The governor was the head of the territorial government. He had the power to veto legislation proposed by the territorial legislature and the power to appoint members to his cabinet, who in turn had to be ratified by territorial lawmakers. The governor had

5760-541: The United States sanctions against Iran ; European companies faced with the possibility of losing access to the U.S. market by trading with Iran. International investment agreements also facilitate direct investment between two countries, such as the North American Free Trade Agreement and most favored nation status. Raymond Vernon reported in 1977 that of the largest multinationals focused on manufacturing, 250 were headquartered in

5888-506: The United States scrutinizes foreign investments. In addition, corporations may be prohibited from various business transactions by international sanctions or domestic laws. For example, Chinese domestic corporations or citizens have limitations on their ability to make foreign investments outside China, in part to reduce capital outflow . Countries can impose extraterritorial sanctions on foreign corporations even for doing business with other foreign corporations, which occurred in 2019 with

6016-409: The United States to address national issues that may affect the state. It is the governor's responsibility to promote Oklahoma's industries to the world economy as the spokesman for industrial development within the state. Along with those responsibilities comes the role of chief promoter of Oklahoma's goods and services to foreign consumers. As Oklahoma's head of state, the governor may travel through

6144-614: The United States as the largest consumer and guarantor of the existing oil security order. Since the Iraq War, OPEC has had only a minor influence on oil prices, but it has expanded to 11 members, accounting for about 40 percent of total global oil production, although this is a decline from nearly 50 percent in 1974. Oil has practically become a common commodity, leading to much more volatile prices. Most OPEC members are wealthy, and most remain dependent on oil revenues, which has serious consequences, such as when OPEC members were pressured by

6272-461: The United States from 2010. The USA became the leading oil producer, creating tension with OPEC. In 2014, Saudi Arabia increased production to push new American producers out of the market, leading to lower prices. OPEC then reduced production in 2016 to raise prices, further worsening relations with the United States. By 2012, only 7% of the world's known oil reserves were in countries that allowed private international companies free rein; 65% were in

6400-1107: The United States included production in Alaska , the Eagle Ford Group , the Permian Basin , the Bakken Formation , the Gulf of Mexico and the Anadarko Basin . Approximately one-third of the company's U.S. production is in Alaska, where it has operations in the Cook Inlet Area , the Alpine oil field off the Colville River , and the Kuparuk oil field and Prudhoe Bay Oil Field on the Alaska North Slope . As of December 31, 2023,

6528-629: The United States, 115 in Western Europe, 70 in Japan, and 20 in the rest of the world. The multinationals in banking numbered 20 headquartered in the United States, 13 in Europe, nine in Japan and three in Canada. Today multinationals can select from a variety of jurisdictions for various subsidiaries, but the ultimate parent company can select a single legal domicile ; The Economist suggests that

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6656-519: The United States, at least 31 years old, and residents of Oklahoma for at least ten years prior to their candidacy. Under Section Four in Article VI of the Oklahoma Constitution , the governor serves a four-year term in office beginning on the second Monday in January. Section Four also states that no person may hold the office for more than two consecutive terms. On November 2, 2010, voters passed

6784-766: The VOC in 1799, and during the 19th century, other governments increasingly took over private companies, most notably in British India. During the process of decolonization , the European colonial charter companies were disbanded, with the final colonial corporation, the Mozambique Company , dissolving in 1972. Mining of gold, silver, copper, and oil was a major activity early on and remains so today. International mining companies became prominent in Britain in

6912-456: The West to the post-colonial South and invest either in foreign expenditures or ostentatious economic development projects. After 1974, most of the money from OPEC members ceased as payments for goods and services or investments in Western industry. In February 1974, the first Washington Energy Conference was convened. The most significant contribution of this conference was the establishment of

7040-647: The advice and consent of the Oklahoma Senate , such as with the Board of Regents of the University of Oklahoma . The governor is also responsible for preparing the proposed Oklahoma state budget presented to the Oklahoma Legislature in February for the next fiscal year beginning in July. After state legislators negotiate the terms of the budget with the governor, the Oklahoma House of Representatives drafts

7168-503: The annual State of the State address . Before a joint session of the Oklahoma Legislature , the governor outlines the status of the state and legislative proposals for the upcoming year. The governor is in a strong position to influence public opinion and thereby to influence the actions of state legislators. The governor has the power to convoke the legislature, or the Oklahoma Senate only, on extraordinary occasions. During extraordinary sessions, state legislators can only act on subjects

7296-465: The applicant for clemency, and a favorable vote from the majority, the board may empower the governor to make such acts of as he deems necessary. The governor has the power to grant after conviction, reprieves , or a leave of absence not to exceed sixty days, without the action of the board. The governor is required to communicate to the Oklahoma Legislature , at each regular session, each case of reprieve, commutation, parole or pardon, granted, stating

7424-469: The behavior of multinational corporations, given that they are effectively "stateless" actors, is one of several urgent global socioeconomic problems that has emerged during the late twentieth century. Potentially, the best concept for analyzing society's governance limitations over modern corporations is the concept of "stateless corporations". Coined at least as early as 1991 in Business Week ,

7552-742: The collapse of the Shah's regime in Iran. Iran became a regional power due to oil money and American weapons. The Shah eventually abdicated and fled the country. This prompted a strike by thousands of Iranian oil workers, significantly reducing oil production in Iran. Saudi Arabia tried to cope with the crisis by increasing production, but oil prices still soared, leading to the "second oil shock." Saudi Arabia significantly reduced oil production, losing most of its revenues. In 1986, Riyadh changed course, and oil production in Saudi Arabia sharply increased, flooding

7680-654: The companies. This occurred in 1960. Prior to the 1973 oil crisis , the Seven Sisters controlled around 85 percent of the world's petroleum reserves . In the 1970s, most countries with large reserves nationalized their reserves that had been owned by major oil companies. Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies, such as Saudi Aramco , Gazprom (Russia), China National Petroleum Corporation , National Iranian Oil Company , PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). A unilateral increase in oil prices

7808-562: The company had proved reserves of 6,758 million barrels of oil equivalent (4.134 × 10 GJ), of which 46% was petroleum , 34% was natural gas , 14% was natural gas liquids and 6% was bitumen . The company is ranked 156th on the Fortune 500 . In the 2023 Forbes Global 2000 , ConocoPhillips was ranked as the 83rd-largest public company in the world. ConocoPhillips also ranked 207th on Forbes Best Employers for Diversity (2021), 125th on Forbes America's Best Employers (2021) and 76 on Forbes Canada's Best Employers (2021). The company

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7936-433: The company was planning new drillings in Alaska's North Slope which would affect the life of 400 in the Native Village of Nuiqsut . According to the 2021 Arctic Environmental Responsibility Index (AERI), ConocoPhillips is ranked as the fourth most environmentally responsible company out of 120 oil, gas, and mining companies involved in resource extraction north of the Arctic Circle. Multinational corporation Most of

8064-510: The conception was theoretically clarified in 1993: that an empirical strategy for defining a stateless corporation is with analytical tools at the intersection between demographic analysis and transportation research. This intersection is known as logistics management , and it describes the importance of rapidly increasing global mobility of resources. In a long history of analysis of multinational corporations, we are some quarter-century into an era of stateless corporations—corporations that meet

8192-414: The country to promote Oklahoma in a general interest or travel abroad to serve as proponent of America's interests. Pursuant to the Oklahoma Emergency Management Act of 2003 and the Catastrophic Health Emergency Powers Act , in case a natural or man-made emergency or a catastrophic health emergency occurs or is anticipated in the immediate future, the governor gains emergency powers to better respond to

8320-643: The creation of a "world customer". The idea of a global corporate village entailed the management and reconstitution of parochial attachments to one's nation. It involved not a denial of the naturalness of national attachments, but an internationalization of the way a nation defines itself. "Multinational enterprise" (MNE) is the term used by international economist and similarly defined with the multinational corporation (MNC) as an enterprise that controls and manages production establishments, known as plants located in at least two countries. The multinational enterprise (MNE) will engage in foreign direct investment (FDI) as

8448-408: The current largest and most influential companies are publicly traded multinational corporations, including Forbes Global 2000 companies. The history of multinational corporations began with the history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were the British East India Company founded in 1600 and

8576-402: The debate from a neo-liberal perspective in Storm over the Multinationals (1977). Governor of Oklahoma The governor of Oklahoma is the head of government of the U.S. state of Oklahoma . Under the Oklahoma Constitution , the governor serves as the head of the Oklahoma executive branch , of the government of Oklahoma . The governor is the ex officio commander-in-chief of

8704-414: The emergency and combat the threat. Either the governor through executive order or the Oklahoma Legislature through concurrent resolution may declare a state of emergency. Once declared, the governor may exercise additional emergency powers. At any time, the governor (through executive order) or the state legislature (through concurrent resolution) may declare an end to the state of emergency and suspend

8832-433: The end of April, rose to $ 40 per barrel. In December 2020, ConocoPhillips made the largest discovery of oil for the year, between 75.5 million and 201 million barrels in the Slagugle well. Executive Vice President Matt Fox, stated that this was the fourth successful exploration well to be found on the Norwegian continental shelf in the past 16 months. In January 2021, the company acquired Concho Resources , an operator in

8960-406: The evacuation of the state's population from any affected or threatened area or areas within the state, regulating the conduct of civilians and the movement of pedestrians and vehicular traffic, and regulating public meetings and gatherings. The governor is responsible for providing for the care of all those regulated by their orders. During a state of emergency, the governor is authorized to utilize

9088-481: The firm makes direct investments in host country plants for equity ownership and managerial control to avoid some transaction costs . Sanjaya Lall in 1974 proposed a spectrum of scholarly analysis of multinational corporations, from the political right to the left. He put the business school how-to-do-it writers at the extreme right, followed by the liberal laissez-faire economists, and the neoliberals (they remain right of center but do allow for occasional mistakes of

9216-510: The first U.S. oil company to join the U.S. Climate Action Partnership , an alliance of big business and environmental groups. In January 2007, the partnership advised President George W. Bush that mandatory emissions caps would be needed to reduce the flow of carbon dioxide and other greenhouse gases into the atmosphere. In 2007, ConocoPhillips announced it would spend $ 150 million that year on alternative and unconventional energy sources, up from $ 80 million in 2006. However, ConocoPhillips left

9344-573: The governor heads each department and carries out his executive orders through that department. The governor is an ex officio chair of numerous state commissions and committees, including the Oklahoma Commissioners of Land Office and the Oklahoma Ethics Commission . While there are executive and state commissions of which the governor is not a member, the governor has appointment power to those entities with

9472-490: The governor in this manner become void, unless the legislation is re-passed in both the Oklahoma House of Representatives and Oklahoma Senate with a two-thirds vote in favor of overriding the veto. Bills that are part of the governor's agenda are often drafted at the initiative of the governor or governor's staff. In annual and special messages to the Oklahoma Legislature , the governor may propose legislation. The most important annual message to state lawmakers takes place in

9600-416: The governor is empowered by the U.S. Constitution to appoint someone immediately to fill the vacant Senate seat temporarily until a special election can be held. Within the executive branch of Oklahoma government, the governor is assisted by the lieutenant governor of Oklahoma , the secretary of state of Oklahoma , the attorney general of Oklahoma , and the state treasurer of Oklahoma , among others. While

9728-470: The governor may not remove from office the elective state executive officers, the justices of the Oklahoma Supreme Court , the judges of the Oklahoma Court of Criminal Appeals , and members of the Oklahoma Legislature . When carrying out the functions of emergency powers, the governor is immune from civilly liable for any loss or injury resulting from any decision, determination, order or action in

9856-430: The governor recommends for consideration. When ever a vacancy occurs within the state legislature, the governor shall issue a writ of election to fill such vacancies. In case of a disagreement between the two houses of the legislature, at a regular or special session, the governor may adjourn them to such time as he shall deem proper, not beyond the day of the next stated meeting of the legislature. The governor may convoke

9984-403: The governor to the lieutenant governor. This includes the power of signing or vetoing legislation, making political appointments, calling out the Oklahoma National Guard , or granting pardons . The need for the lieutenant governor to act as the governor may be due to the governor's absence from the state, or the inability to discharge the powers and duties of the office. When acting as governor,

10112-569: The governor's emergency powers is to ensure the security and stability of the state. The governor receives comprehensive police powers in an emergency. In discharging those power to enforce laws, rules and regulations relating to emergency management , the governor assumes direct operational control of emergency management forces of the state, including the Oklahoma National Guard , state police agencies, state and local health departments, as well as county sheriff's offices and local police departments. These emergency police powers extend to providing for

10240-611: The governor's emergency powers. Upon the declaration of an emergency, the governor is allowed a limited-form of rule by decree . He assumes direct regulatory control over essential resources of the state. It will then be the responsibility of the governor to determine the priorities of such resources and allocate them as the governor may deem necessary. These resources include, but are not limited to, food, manpower, health and health manpower, water, transportation, economic stabilization, electric power, petroleum, gas, and solid fuel, industrial production, construction and housing. The focus of

10368-400: The governor's office of its powers and impeached governors John C. Walton and Henry S. Johnston . It was not until William H. Murray took office in 1935 that the governorship expanded its powers. In 1927, the state legislature appropriated $ 75,000 for the construction of a governor's mansion and $ 25,000 for furnishings. In 1928, the governor and his family moved in. As Oklahoma grew and

10496-623: The governor's position as the spokesman for the state and the state's interests to other state and world leaders. However, the governor may not make treaties with other nations or other U.S. states , as this is prevented by the United States Constitution . In discharging his duty as chief spokesman, the governor may be required to testify before the United States Congress or meet with the President of

10624-489: The governor, unless otherwise provided by law, has the power to appoint a person to fill such vacancy, who shall continue in office until the election or appointment of a successor. If the office of an Oklahoma member of the United States House of Representatives or United States Senate becomes vacant the governor calls a special election to fill the remainder of the term. In the case of United States senators,

10752-425: The governor. However, before removal, officers must receives the charges against them and have an opportunity to defend themselves. Pending the presentation of charges, the governor may suspend such officers for a period not to exceed thirty days. Any vacancy resulting from removal or suspension shall be filled by the governor until it is filled as provided by state law. However, according to the Oklahoma Constitution ,

10880-416: The hands of state-owned companies that operated in one country and sold oil to multinationals such as BP, Shell, ExxonMobil and Chevron. Down through the 1930s, about 80% of the international investments by multinational corporations were concentrated in the primary sector, especially mining (especially oil) and agriculture (rubber, tobacco, sugar, palm oil , coffee, cocoa, and tropical fruits). Most went to

11008-576: The international oil market. Iran was unable to sell any of its oil. In August 1953, the then-prime minister was overthrown by a pro-American dictatorship led by the Shah, and in October 1954, the Iranian industry was denationalized. Worldwide oil consumption increased rapidly between 1949 and 1970, a period known as the 'golden age of oil'. This increase in consumption was caused not only by the growth of production by multinational oil companies but also by

11136-415: The internationalization of production. For the first time in history, production, marketing, and investment are being organized on a global scale rather than in terms of isolated national economies. International business is also a specialist field of academic research. Economic theories of the multinational corporation include internalization theory and the eclectic paradigm . The latter is also known as

11264-460: The largest recipients. However, 70% of foreign direct investment went into developed countries in the form of stocks and cash flows. The rise in the number of multinational companies could be due to a stable political environment that encourages cooperation, advances in technology that enable management of faraway regions, and favorable organizational development that encourages business expansion into other countries. A multinational corporation (MNC)

11392-523: The launch of the FEED competition for Salam-Patawali project offshore Malaysia . The project has been developing for several years: in February 2021, permission was obtained for exploration on the Malaysian shelf called SB405, in 2022 conducted seismic exploration in 3D. Also in 2022, FPSO contractors Bumi Armada , MISC and Yinson Holdings were said to have expressed an interest in this project, and Genesis

11520-474: The laws and regulations of both their domicile and the additional jurisdictions where they are engaged in business. In some cases, the jurisdiction can help to avoid burdensome laws, but regulatory statutes often target the "enterprise" with statutory language around "control". As of 1992 , the United States and most OECD countries have the donot legal authority to tax a domiciled parent corporation on its worldwide revenue, including subsidiaries. As of 2019 ,

11648-479: The laws, protect the public health, suppress insurrection, and repel invasion." The governor is assisted in managing the military of Oklahoma by the Adjutant General of Oklahoma , an appointee of the governor. The governor has the power to commission officers not otherwise commissioned by the law of Oklahoma and has the power of appointment. When any office at the state level becomes vacant for any reason,

11776-483: The lieutenant governor holds the powers of the governor until the governor returns to the state or found to be able to discharge the powers and duties of the office. The Office of the Governor is the state agency that supports the governor in the performance of gubernatorial duties. The agency consists of the governor's staff and is headed by the governor's chief of staff. Staffers are political appointees and serve at

11904-410: The lieutenant governor to their cabinet. For example, Governor Mary Fallin appointed Lieutenant Governor Todd Lamb to serve as her small business advocate within her Cabinet – although Lamb later resigned that position due to disagreements with the Governor. A lieutenant governor can also serve as Acting Governor . When acting as the governor, the Oklahoma Constitution provides all the powers of

12032-538: The mansion was completed. Built by an Oklahoma City architectural firm, Layton, Hicks and Forsyth, the mansion is of Dutch-Colonial style. Carthage limestone was used so the exterior of the Mansion would complement the Oklahoma State Capitol , which is located to the west of the mansion. The state legislature allocated $ 100,000 of state money ($ 75,000 for construction and $ 25,000 for furnishing) to

12160-494: The market with cheap oil. This caused a worldwide drop in oil prices, hence the "third oil shock" or "counter-shock." However, this shock represented something much bigger—the end of OPEC's dominance and its control over oil prices. Iraqi President Saddam Hussein decided to attack Kuwait. The invasion sparked a crisis in the Middle East, prompting Saudi Arabia to request assistance from the United States. The United States sent

12288-543: The marketplace such as externalities). Moving to the left side of the line are nationalists, who prioritize national interests over corporate profits, then the "dependencia" school in Latin America that focuses on the evils of imperialism, and on the far left the Marxists. The range is so broad that scholarly consensus is hard to discern. Anti-corporate advocates criticize multinational corporations for being without

12416-523: The move to Houston was "regrettable". In September 2004, the company invested $ 2 billion in Lukoil . In March 2006, ConocoPhillips acquired Wilhelmshavener Raffineriegesellschaft mbH, based in Germany. It also acquired Burlington Resources for $ 35 billion in cash and stock. On May 10, 2006, Richard Armitage , former deputy-secretary of the U.S. State Department, was elected to the board of directors of

12544-489: The name of the convict, the crime of which he was convicted, the date and place of conviction, and the date of commutation, pardon, parole and reprieve. The governor, as Oklahoma's head of state, serves as the chief representative of Oklahoma to the United States and to the world. Deals between Oklahoma and foreign powers (including other U.S. states and the United States) are negotiated by the governor. This reflects

12672-487: The oath of office. Frank Frantz served as the final governor of Oklahoma Territory. He was an unsuccessful candidate for governor in the first state gubernatorial election. After the Oklahoma Constitution was written and accepted in 1907, the Oklahoma and Indian territories joined to form the U.S. state of Oklahoma . The office of the governor of Oklahoma replaced the office of territorial governor. The new office

12800-680: The operation and upkeep of the Governor's Mansion . Since 1928, Oklahoma governors reside in the Oklahoma Governor's Mansion . Before its construction, governors lived in various locations around Guthrie and Oklahoma City . Governor Charles N. Haskell set up his administration's office and his official residence within a hotel in Oklahoma City. The Oklahoma Legislature provided for the construction of an official residence after years of debate in 1927. The next year, in 1928,

12928-643: The other high-level executive offices are elected directly by the people of Oklahoma, the secretary of state is appointed by the governor with the consent of the Oklahoma Senate for a four-year term. Due to the large number of state agencies, the governor is assisted in running the government through the use of the Oklahoma State Cabinet . Through the Cabinet, the governor can address the assembled heads of Oklahoma's executive branch departments which oversee Oklahoma's agencies. A secretary appointed by

13056-599: The other is the Hasselbaink prospect, where drilling has already begun. In May 2020, the company sold its assets in Northern Australia to Santos Limited for $ 1.39 billion. In July 2020, the company announced the acquisition of acreage in the Montney Formation in Canada for $ 375 million. On 1 August 2020, Steinar Våge who has been with the ConocoPhillips company since 1988, was elected into

13184-429: The performance of the governor's assigned duties and responsibilities during a stated emergency. However, this immunity does not apply when such loss or injury is caused by the gross negligence, or willfully and unnecessarily act by the governor. The lieutenant governor of Oklahoma is elected at the same election as the governor, but not jointly as the running mate of the gubernatorial candidate. Oklahoma currently has

13312-481: The pleasure of the governor. They work in the governor's Oklahoma State Capitol offices in Oklahoma City , the governor's Tulsa office and the Governor's Mansion . As of 2013, the agency has an annual budget of approximately $ 1.98 million. The budget provides funding for employee salaries and benefits, operation and upkeep of the governor's offices in the Oklahoma State Capitol and Tulsa, Oklahoma , and

13440-756: The position of President for ConocoPhillips Europe, Middle East and North Africa . He was previously the Senior Vice President of Global Operations, Wells and Projects at the corporate headquarters in Houston, United States, and is now located in Stavanger, where the main office is located. Due to the COVID-19 pandemic in 2020, ConocoPhillips had to reduce its production in May as the price of oil in North Slope , which stood at about $ 10 per barrel at

13568-436: The power to appoint justices to the territorial high court. The governor was responsible to the U.S. president on addressing issues in the territory and served as the representative as the federal government of the United States . He was also the commander-in-chief of the territorial militia. George Washington Steele served as the first governor of Oklahoma Territory. He vetoed the territorial legislature's attempts to move

13696-481: The power to grant paroles if a convict has been sentenced to death or sentenced to life imprisonment without parole. In order to grant a pardon to an individual, he must submit the name of the individual to the Oklahoma Pardon and Parole Board composed of five members, three of which are appointed by the governor at the beginning of his term in office to serve a term that coincides with his own. After reviewing

13824-560: The price collapse in 1998–1999. The United States still maintains close relations with Saudi Arabia. In 2003, U.S. forces invaded Iraq with the aim of removing the dictatorship and gaining access to Iraqi oil reserves, giving the United States greater strategic importance from 2000 to 2008. During this period, there was a constant shortage of oil, but its consumption continued to rise, maintaining high prices and leading to concerns about "peak oil". From 2005 to 2012, there were advances in oil and gas extraction, leading to increased production in

13952-445: The project. Two years later, another $ 39,000 was set aside to complete outbuildings and landscaping. Though originally having 19 rooms, today the 14,000-square-foot (1,300 m ) Mansion has 12, including a library, parlor, dining room, grand ballroom, kitchen, sunroom and five bedrooms. The mansion also serves as an active museum. Throughout the mansion there are antiques and artwork from both museum and private collections. The museum

14080-611: The realities of the needs of source materials on a worldwide basis and to produce and customize products for individual countries. One of the first multinational business organizations, the East India Company , was established in 1601. After the East India Company came the Dutch East India Company , founded on March 20, 1603, which would become the largest company in the world for nearly 200 years. The main characteristics of multinational companies are: When

14208-810: The red bar-and-triangle logo previously used by Marland. Conoco used the logo between 1930 and 1970, when the current red capsule logo was adopted. Conoco was based in Ponca City until 1949, when it moved to Houston, Texas. In 1998, Conoco acquired an interest in 10.5 blocks in the Kashagan Field in the Caspian Sea off Kazakhstan through the North Caspian Sea Production Sharing Agreement (NCSPSA). On November 26, 2012, in its largest acquisition ever, ONGC Videsh agreed to buy ConocoPhillips' 8.4% stake in

14336-469: The remainder of the gubernatorial term. If, during a vacancy of the office of governor, the lieutenant governor is impeached, displaced, resigns, dies, is absent from the state, or becomes incapable of performing the duties of the office, the president pro tempore of the state senate is the next official in the gubernatorial line of succession. The Speaker of the Oklahoma House of Representatives

14464-586: The sale of natural gas fields in the U.S., it led to a reduction of close to 30% of its proved oil and gas reserves. In June 2017, the company agreed to sell assets in the Barnett Shale for $ 305 million. In August 2017, the company sold its business in the San Juan Basin for $ 2.5 billion. In May 2018, ConocoPhillips seized assets belonging to the Venezuelan state oil company PDVSA from

14592-426: The services, equipment, supplies and facilities of all departments, offices and agencies of the state to the maximum extent practicable. State, county, and local officers and personnel must cooperate with the governor in emergency management, based upon he governor's direction. Any state, county, or local official that willful fails to obey any order, rule or regulation issued by the governor may be removed from office by

14720-577: The state capital from Guthrie to Oklahoma City or Kingfisher. He was instrumental in the establishment of two universities that would become the University of Oklahoma and Oklahoma State University . After only seventeen months in office, Steele resigned effective October 18, 1891. In his place, President Benjamin Harrison appointed Abraham Jefferson Seay to the governorship. Robert Martin , secretary of Oklahoma Territory, served as acting governor from October 18, 1891, until February 1892, when Seay took

14848-426: The state government expanded, the office of the governor became gradually more powerful. As more agencies were introduced, the governor gained greater indirect influence through the power of appointment. Initially the governor was not eligible to immediately succeed himself. It was not until 1966 that Oklahoma amended the state constitution to allow the governor to serve two consecutive terms. The governor of Oklahoma

14976-501: The strong influence of the United States on the global oil market. In 1959, companies lowered the price of oil due to a surplus in the market. This reduction dealt a significant blow to the finances of producers. Saudi oil minister Abdullah Tariki and Venezuela’s Juan Perez Alfonso entered into a secret agreement (the Mahdi Pact), promising that if the price of oil was lowered a second time, they would take collective action against

15104-496: The world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902) was one of the few businessmen in the era who became Prime Minister (of South Africa 1890–1896). His mining enterprises included the British South Africa Company and De Beers . The latter company practically controlled the global diamond market from its base in southern Africa. In 1945, the United States

15232-573: The world without a concentration in one area have been called stateless or "transnational" (although "transnational corporation" is also used synonymously with "multinational corporation" ), but as of 1992, a corporation must be legally domiciled in a particular country and engage in other countries through foreign direct investment and the creation of foreign subsidiaries. Geographic diversification can be measured across various domains, including ownership and control, workforce, sales, and regulation and taxation. Multinational corporations may be subject to

15360-503: The worldwide revenue of a foreign subsidiary, and taxation is complicated by transfer pricing arrangements with parent corporations. For small corporations, registering a foreign subsidiary can be expensive and complex, involving fees, signatures, and forms; a professional employer organization (PEO) is sometimes advertised as a cheaper and simpler alternative, but not all jurisdictions have laws accepting these types of arrangements. Disputes between corporations in different nations

15488-498: Was composed of Oklahoma and Indian territories . While Indian Territory was semi-independent of the federal government as Indian nations land, Oklahoma Territory was an organized territory under the supervision of the United States Congress . Within the Oklahoma Territory, a tripartite government existed, including a territorial legislature, a territorial supreme court, and a territorial governor. The president of

15616-514: Was contracted for engineering services. In September 2024 ConocoPhillips and Uniper agreed for a supplying deal which is up to 10 billion cubic metres (bcm) of natural gas for the next 10 years. With this, ConocoPhillips will be able to supply natural gas to Uniper i.e in the north- western European zone. In November 2024, ConocoPhillips acquired Marathon Oil in a $ 22.5 billion transaction. The Conoco Museum in Ponca City, Oklahoma , and

15744-438: Was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for the seven multinational companies that dominated the global petroleum industry from the mid-1940s to the mid-1970s. The nationalization of the Iranian oil industry in 1951 by Iranian Prime Minister Mohammad Mosaddegh and the subsequent boycott of Iranian oil by all companies had dramatic consequences for Iran and

15872-448: Was fully aware that the means to overcoming cultural resistance depended on an "understanding" of the countries in which a corporation operated. He observed that companies with "foresight to capitalize on international opportunities" must recognize that " cultural anthropology will be an important tool for competitive marketing". However, the projected outcome of this was not the assimilation of international firms into national cultures, but

16000-546: Was labeled as "the largest nonviolent transfer of wealth in human history." The OPEC sought immediate discussions regarding participation in national oil industries. Companies were not inclined to object as the price hike benefited both them and OPEC members. In 1980, the Seven Sisters were entirely displaced and replaced by national oil companies (NOCs). The rise in oil prices burdened developing countries with balance of payments deficits, leading to an energy crisis. OPEC members had to abandon their plan of redistributing wealth from

16128-612: Was ranked as the 14th most polluting company in the world by The Guardian in 2019. It is responsible for 0.91% of global industrial greenhouse gas emissions from 1988 to 2015. In 1875, the "Continental Oil and Transportation Company" (acronym "Conoco") was founded in Ogden, Utah by Isaac Blake. In 1885, Conoco was reincorporated as part of Standard Oil . After the Supreme Court of the United States dissolved Standard Oil, Conoco became independent in 1913. By 1929, it had become

16256-422: Was similar, but designed with new restrictions, limits, and legislative and judicial oversight. It was crafted as a "weak governor system" to defend the state against abuses of power that had occurred under the territorial government. Oklahoma's first governor, Charles N. Haskell , wielded executive power effectively, but in the first 20 years after he left office in 1911, the Oklahoma Legislature further limited

16384-513: Was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore, the United States turned to foreign oil sources, which had a significant impact on the recovery of the West after World War II. Most of the world's oil was found in Latin America and the Middle East, particularly in the Arab states of the Persian Gulf. This increase in non-American production

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