Environmental Smog Control Costs and proceeds of Oil and Gas Conglomerates

The study was carried out to analyse cost implications of environmental smog control costs on the proceeds of oil and gas conglomerates. Panel data were collected and organized from financial statements of selected conglomerates. Data were analysed using ordinary least square of multivariate analysis. Empirical findings revealed that environmental smog control costs have significant effect on the proceeds of the conglomerates investigated. Thus the study suggested and acclaimed that conglomerates should ensure that smog management and controls policies are formulated and implemented to avoid projecting a bad image of the establishment which could lead to loss of goodwill and reduce proceeds in the long run, there should also be effective regulations that will lead to adequate cost disclosure and appropriate financial performance reporting.