Governance
We follow clear policies and oversight practices to support safe, compliant, and transparent operations.
Corporate Governance Framework
Our governance structure is designed to support integrity, transparency, and accountable leadership.
1. Governance Statement & Purpose
At Atlas Oil Petroleum Gas and Energy Ltd, we believe that high standards of corporate governance are fundamental to our long-term success. Our framework ensures that the company is managed with integrity, transparency, and accountability to our shareholders, employees, and the communities in which we operate.
Our Mission: To deliver reliable energy solutions while maintaining a stable and predictable system of internal regulation that encourages sustainable investment.
2. Board Structure & Composition
The Board of Directors is the primary decision-making body for Atlas Oil. It provides strategic leadership and ensures that the necessary financial and human resources are in place to meet our objectives.
- Division of Responsibilities: There is a clear separation between the running of the Board (Chairman) and the executive responsibility for running the business (CEO).
- Board Composition: The Board consists of a balanced mix of Executive Directors and independent Non-Executive Directors (NEDs) to ensure no single individual has unfettered powers of decision.
- Independence: Our Non-Executive Directors bring objective judgment to bear on issues of strategy, performance, and standards of conduct.
3. Board Committees
To ensure deep oversight in specialized areas, the Board has established four standing committees, each with clear Terms of Reference (ToR).
| Committee | Key Responsibilities |
|---|---|
| Audit & Risk | Oversees financial reporting, internal controls, and the integrity of the audit process. Manages the “Risk Register.” |
| Safety & Sustainability | Monitors Health, Safety, and Environmental (HSE) performance and the implementation of our Net Zero 2050 roadmap. |
| Remuneration | Sets the compensation policy for senior management to ensure alignment with long-term shareholder value. |
| Nomination & Governance | Leads the process for Board appointments and ensures a diverse succession plan for the leadership team. |
4. Internal Controls & Risk Management
The energy sector is subject to unique geopolitical and operational risks. Our framework includes a Integrated Risk Management System (IRMS) that:
- Identifies and mitigates principal risks (Price volatility, operational safety, and cybersecurity).
- Maintains a quarterly Risk Register reviewed by the Audit Committee.
- Employs an Internal Audit function that reports directly to the Board to ensure the effectiveness of manual and automated controls.
5. ESG & Sustainability Governance
As part of our “Energy Transition” strategy, governance at Atlas Oil is inextricably linked to our Environmental and Social impact.
- Net Zero Accountability: The Board reviews our carbon reduction milestones (interim 2030 targets) every six months.
- Social License to Operate: We engage proactively with local stakeholders and labor unions to ensure fair treatment and community investment.
- Ethics & Compliance: Our Code of Conduct prohibits any form of bribery or corruption. Every employee and contractor must complete annual compliance training.
6. Stakeholder Engagement
Atlas Oil is committed to regular, open dialogue with all stakeholders.
- Shareholders: We hold an Annual General Meeting (AGM) and provide regular investor updates.
- Workforce: We utilize a “Workforce Engagement” director to ensure the voice of the employee is heard in the boardroom.
- Transparency: All financial records and sustainability reports are published in accordance with international reporting standards (GRI/ISSB).
Corporate Governance Documents
- Download: Articles of Association (PDF) (coming soon)
- Download: Board Committee Charters (PDF) (coming soon)
- Download: Code of Business Ethics (PDF) (coming soon)