Integration and Isolation in the Global Petrochemical Industry: A Multiscalar Corporate Network Analysis

Verbeek, Thomas; Mah, Alice

doi:10.1080/00130095.2020.1794809

Cited by 29 publications

(7 citation statements)

References 56 publications

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“…The connectivity patterns that emerged from our static analysis of intrafirm relationships provide empirical evidence of the processes of globalization, financialization, and the rise of state capitalism. This has also been found in previous studies on the energy sector to explain the positions of global cities (Goerzen, Asmussen, and Nielsen 2013), energy hubs (Toly et al 2012;, national capitals (Toly et al 2012;Breul 2019), and THOFCs (Sigler et al 2019;Verbeek and Mah 2020) at the core of global oil and gas firm networks.…”

Section: Resultssupporting

confidence: 79%

“…2 Our initial data set of 30,963 headquarter-subsidiary ties of 2,573 oil and gas firms was reduced to 24,299 ties of 2,121 firms by excluding entries with no subsidiaries or missing addresses. The resulting data set represented 1,339 cities across 162 countries, and 102 of the world's stock exchanges, and is significantly larger than data sets used in previous studies on energy city networks (e.g., 33 energy corporations in Toly et al 2012, the top 100 Platts energy firms in Martinus and Tonts 2015, and 14 petrochemical companies in Verbeek and Mah 2020).…”

Section: Methodsmentioning

confidence: 99%

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Spatial Differentiation of Variegated Capitalisms: A Comparative Analysis of Russian and Australian Oil and Gas Corporate City Networks

et al. 2020

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Section: Resultssupporting

confidence: 79%

Section: Methodsmentioning

confidence: 99%

Spatial Differentiation of Variegated Capitalisms: A Comparative Analysis of Russian and Australian Oil and Gas Corporate City Networks

et al. 2020

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“…The extent of collaboration across the petrochemical value chain over the plastics crisis has been impressive, in terms of both speed (within months) and scope (from waste management companies to plastics convertors to big retail brands and oil majors). The petrochemical industry is dominated by vertically integrated multinational oil companies, multinational chemical companies, and national oil companies, with powerful barriers to entry and fierce geopolitical competition (Chandler 2009;Verbeek and Mah 2020). While consumerfacing global value chains have collaborated on corporate sustainability issues, squeezing suppliers to produce more sustainable products (Ponte 2019), major oil companies are the main suppliers, with less interest in downstream products due to lower profitability, at least until recently (Inkpen and Ramaswamy 2017).…”

Section: Containmentmentioning

confidence: 99%

Future-Proofing Capitalism: The Paradox of the Circular Economy for Plastics

Mah¹

2021

Global Environmental Politics

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The marine plastics crisis sparked a wave of corporate interest in the circular economy, a sustainable business model that aims to eliminate waste in industrial systems through recycling, reduction, reuse, and recovery. Drawing on debates about the role of corporations in global environmental governance, this article examines the rise of the circular economy as a dominant corporate sustainability concept, focusing on the flagship example of the circular economy for plastics. It argues that corporations across the plastics value chain have coordinated their efforts to contain the circular economy policy agenda, while extending their markets through developing risky circular economy technologies. These corporate strategies of containment and proliferation represent attempts to “future-proof” capitalism against existential threats to public legitimacy, masking the implications for environmental justice. The paradox of the circular economy is that it seems to offer radical challenges to linear “take-make-waste” models of industrial capitalism, backed by international legislation, but it does not actually give up on unsustainable growth. We need to tackle the plastics crisis at its root, dramatically reducing the global production of toxic and wasteful plastics.

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“…Economic geographers specialize in analyzing the interaction of companies' global economic activity and regional development through the lens of global production networks, with studies at global scales (Bridge, 2008; Bridge & Bradshaw, 2017) or case studies at regional scales (Breul et al, 2019; Breul & Diez, 2018; Bridge & Dodge, 2022; Dodge, 2020; Lim, 2018; McGregor & Coe, 2021; Stephenson & Agnew, 2016). Similarly, world city networks and corporate elite networks have been widely linked with O&G companies (De Graaff, 2011; Loginova et al, 2020; Martinus et al, 2015; Martinus & Tonts, 2015; Verbeek & Mah, 2020). In addition, there are also studies focused on shareholder transnational advocacy networks targeting oil companies, as well as global energy networks from different perspectives through headquarters–subsidiary relationships, mergers and acquisitions, and cross‐shareholding relations by O&G companies (Guo et al, 2021; Li et al, 2021; McAteer & Pulver, 2009; Yang & Dong, 2016).…”

Section: Strategic Responses Of Oandg Companies To Global Shiftsmentioning

confidence: 99%

Globalization and decarbonization: Changing strategies of global oil and gas companies

Guo

Yang

Bradshaw

et al. 2023

WIREs Climate Change

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Oil and gas (O&G) companies, as key players in the contemporary global energy landscape, have evolved within the context of a dynamic interaction between states and markets. However, their role is being transformed radically by two successive “global shifts”: economic globalization—driving energy demand growth patterns—and climate change—driving energy system transformation and decarbonization, both of which require them to reconsider their business strategies. Using an interdisciplinary lens that draws on human geography, strategy and international business, and international political economy, we propose an integrated conceptual framework for two periods—the 1990s–early 2010s and the post‐Paris Agreement era—to explore the nature of strategic responses by O&G companies to these global economic and environmental shifts. We illustrate the linkage of O&G companies' two strategies of (re‐)globalization and decarbonization by the aspects of production, finance, and knowledge as internal structures. Energy security is one of the priorities in the macro external environment. It is becoming increasingly difficult for O&G companies to deal with current dilemmas: climate goals require a significant reduction in fossil fuel production and consumption, and pressures from governments, nongovernmental organizations, and investors threaten the long‐term survival of O&G companies, while fossil fuel demand will remain high in the short to medium term. At the same time, the post‐pandemic recovery and Russia's war in Ukraine are resulting in a re‐assessment of the benefits of unfettered globalization. Therefore, global O&G companies face dual challenges in the new era of (re‐)globalization and decarbonization and need to make changes to ensure their future viability.This article is categorized under: The Carbon Economy and Climate Mitigation > Decarbonizing Energy and/or Reducing Demand

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Integration and Isolation in the Global Petrochemical Industry: A Multiscalar Corporate Network Analysis

Cited by 29 publications

References 56 publications

Spatial Differentiation of Variegated Capitalisms: A Comparative Analysis of Russian and Australian Oil and Gas Corporate City Networks

Spatial Differentiation of Variegated Capitalisms: A Comparative Analysis of Russian and Australian Oil and Gas Corporate City Networks

Future-Proofing Capitalism: The Paradox of the Circular Economy for Plastics

Globalization and decarbonization: Changing strategies of global oil and gas companies

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