Vision & Values
The Corporation has in place a Vision and Values statement, which outlines the Corporation’s commitment to safety, shareholder value, its employees, the environment and integrity. Management of the Corporation and the Board are of the view that the Vision and Values statement encourages and promotes a culture of ethical business conduct within the Corporation.
To be a truly unique oil company by combining our Vision and Values with the best in Canadian and Latin American petroleum exploration, production, and management practices.
- To be the premier oil company in Latin America, excelling through calculated risk taking, best in class execution, and innovation;
- To never stop challenging ourselves, and others, to find better ways of doing things;
- To continue to develop an entrepreneurial, challenging, and fun work environment with opportunities to grow and where efforts are well rewarded; and
- To be the employer of choice.
- Focus on innovatively creating long-term shareholder value;
- Recognize that our key assets are our employees and treat them and their families with respect;
- Act as shareholders and always in the best interests of our shareholders;
- Act with honesty and integrity, conducting ourselves in an ethically and morally correct fashion in all of our business dealings;
- Communicate openly, honestly and with respect for individuals, communities and cultures;
- Remain committed to safety and to minimizing our environmental footprint; and
- View mistakes as opportunities to learn and improve our future performance.
Code of ethics
The Board has adopted an extensive Disclosure, Confidentiality and Trading Policy to which all such persons are subject. This policy encourages ethical conduct in that it reflects the importance of confidentiality in respect of the Corporation’s activities and restricts trading in the securities of the Corporation at times when individuals may be in possession of material non-public information.
The Corporation also has written policies in place in respect of conduct, conflicts of interest, privacy, ethics, harassment and whistle-blowing. Compliance with the Corporation’s various policies is monitored by management of the Corporation, with reports to the Audit Committee and the Board, if necessary.
Management prepares informational memos that are distributed to all staff members and made available on our intranet on topics that are relevant to Petrominerales and the applicable legislation under which we operate. In light of the foregoing, the Corporation has not adopted a formal written code of ethics.
Board members must disclose any potential conflicts of interest in respect of matters addressed at Board meetings. Each member of the Board must disclose all actual or potential conflicts of interest and refrain from voting on matters in which such director has a conflict of interest.