Among the list of most intense forthcoming firms in the natural oil and natural gas industry, Greka has not continually had a confident sailing. Established in Late 90s by Randeep Grewal, the firm has already established its tryst with environmental complying issues.
Greka was formed after a few mergers and buying of lesser corporations and in the late 90s, when Greka chose to move into the Santa Barbara region, the majority of the major natural oil companies had pulled out on account of lower oil stocks. Greka tried to utilize the remaining “heavy” oil by creating an asphalt facility in the region. Heavy oil is fairly much less expensive and is ideal for asphalt generation. In addition, asphalt is not troubled by the variation in oil costs and the asphalt facility continues to be serving as Greka’s hedge towards lower oil rates. Resulting from its impenetrable business model, Greka soon was crowned the primary natural oil producing firm in the nation ever. To top this, the excellent outcomes were obtained without actually drilling a fresh natural oil well. While all of this was ideal for the investors and the corporation most importantly, it quickly brought the organization directly into the focus of government bodies.
The Santa Barbara Region fire department is claimed to have taken care of immediately more than 400 oil leaking in the region, generally connected to the procedure of Greka. Greka has also been charged with a few affliction and many persons assume that it is the most disappointing oil producing corporation in the historical past of the county when thinking about submission with environmental guidelines. The Environmental protection agency is said to have accused Greka with negligent discretion of oil water into normal water wells. Greka is said to have manipulated the policies and disposed water into the wells with out managing it appropriately. The charges imposed by the Environmental protection agency on Greka totaled to around $127,500 throughout the year 2006 itself. This has been the largest such amount in the historical past of the county of Santa Barbara.
The Palmer Road oil leak of 2007 is observed lots as the most severe natural oil leak in the historical past of the county. Nearly 58000 gallon of natural oil had been poured on the road in December ’07. Greka was imposed and penalized heavily for the leak. Nonetheless, authorized legal professionals at Greka report that a major portion of the natural oil leak was the pursuit of an eco-terrorist. Greka has maintained that most of the oil spills of 2007 and later years happen to be a consequence of a treachery against the corporation and that the organization has, in all possible ways, complied with all the principles set down by the Environmental protection agency as well as other involved respective authorities.
Greka continues to be lively in bringing out its half of the story in the media. There initially were a few campaigns brought out by Greka in 2008 that were targeted at cleaning its image in the view of the trader and aiding it recover confidence amongst the native county people. The “Greka Green” program has been the most notable such effort. Initiatives like the Greka Green are gradually switching the tables in support of the organization and their all round consequences remain to be seen.
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