This statement has been agreed and approved by the Petroleum Experts Ltd. Board of Directors for the Financial year 2020/21
Petroleum Experts Limited (Petex), through its directors, have set a clear standard for business practice since the company's inception in 1990. It is the belief of Petex that a consistent and transparent approach in all aspects of business is fundamental. Petex will not compromise its long-term reputation.
Petex have clients on every continent. Our principles of business and our ethical approach is consistent in all areas in which we carry out business.
All our products and services are sold to our clients on the basis of merit of the products and the technical expertise of our organisation and staff. Our price lists and negotiating principles are open and fair.
We aim at all times to develop our business by ethical practices where the technical products and the quality of the services are the basis on which business is gained and the company's reputation is built.
Prevention of Corruption
Petex and our employees:
- will not offer, give, receive, or agree to give to, or receive from, any person in the services of another company - including a client or potential client - any gift, fee or other consideration of any kind which is, or could reasonably be construed as being, an inducement or reward for doing, or promising to do, any act which could assist in obtaining or executing any commercial agreement or business.
- will not permit any third party who may act on behalf of Petex to offer or receive any form of incentive to obtain favour or business from a client or potential client.
Petex's long-term business is built on being seen as an organisation with integrity, credibility as well as being consistent and open in all its business practices.
Prevention of Modern Slavery and Human Trafficking
Slavery and human trafficking are abuses of a person’s rights and freedom and Petex is totally opposed to such abuses. We have a zero tolerance approach to modern slavery across all areas of our organisation, as well as in our supply chains. We are committed to ensuring we are not connected to modern slavery in any way. We aim to ensure that our business operates in an open and transparent way and our approach to tackling modern slavery throughout our supply chains is consistent with our obligations under the UK Modern Slavery Act 2015.
The Good Reputation of Petex is fundamental to the long term growth and stability of the company. Reputation is built slowly by consistently focusing on exceeding the clients’ expectations, delivering on commitments and having a clear focus and vision that is communicated effectively at all times, by all employees.
Consistency of Approach
In establishing a consistent approach for all our business a series of policy guidelines have been written regarding:
- Software Licensing Policy
- Software Security Controls - Policy
- Pricing Policy
- Administrative Procedures
This document should act as a framework on which business is carried out.
Culture of the Organisation
Petex’s culture and how others perceive us is seen as fundamental to good business practice. Our employees need to represent and present this philosophy to everyone:
We are a petroleum engineering software development company created with the objective of developing leading software products which address the industries’ needs today and into the future.
The culture of the company is set to achieve Excellence. The corporate focus and business style is set to develop long-term business relationships with our clients. We do not want to make a 'quick buck' and then fail to deliver.
Petex - The Company
Our company is built on a:
- Reputation through technical excellence
- Long-term professional relationships
- Technical innovation – with substantial investment in R&D
- Commercial stability and long-term growth
Any breach or potential breach of this standard of business ethics must be reported directly to Petex’s CEO.