The Impact of Corporate Social Responsibility on Financial Indicators of Companies in Oil and Gas Sector: the Case of Rosneft and Royal Dutch Shell

In the modern world, corporate social responsibility (CSR) has become an integral business component of companies. CSR tools allow companies to achieve higher reputational and financial indicators, while making a contribution to society. This approach is important especially for oil and gas companies, as they have a significant impact on society and environment in the regions of presence. Trying to improve their position, oil and gas companies invest large sums in implementing CSR strategies, usually without taking into account financial outcomes. This paper is devoted to the study of CSR strategies of oil and gas companies and the impact on financial results of implication of CSR tools. To achieve this goal, the author analyzed some of the largest representatives of the oil and gas sector: “Royal Dutch Shell” and “Rosneft”. The outcome of the research showed that oil companies can benefit from CSR policy but investment should be aimed at such projects that give real results.