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Global Oil Industry

In: Business and Management

Submitted By rickey007
Words 13040
Pages 53
THE JAMES A. BAKER III INSTITUTE FOR PUBLIC POLICY RICE UNIVERSITY

THE INTERNATIONAL OIL COMPANIES
BY

AMY MYERS JAFFE
WALLACE S. WILSON FELLOW IN ENERGY STUDIES JAMES A. BAKER III INSTITUTE FOR PUBLIC POLICY

RONALD SOLIGO, PH.D.
PROFESSOR OF ECONOMICS, RICE UNIVERSITY RICE SCHOLAR, JAMES A. BAKER III INSTITUTE FOR PUBLIC POLICY

PREPARED IN CONJUNCTION WITH AN ENERGY STUDY SPONSORED BY JAPAN PETROLEUM ENERGY CENTER AND THE JAMES A. BAKER III INSTITUTE FOR PUBLIC POLICY NOVEMBER 2007

International Oil Companies
THIS PAPER WAS WRITTEN BY A RESEARCHER (OR RESEARCHERS) WHO PARTICIPATED IN THE
JOINT

BAKER INSTITUTE/JAPAN PETROLEUM ENERGY CENTER POLICY REPORT, THE CHANGING

ROLE OF NATIONAL OIL COMPANIES IN INTERNATIONAL ENERGY MARKETS. WHEREVER FEASIBLE,
THIS PAPER WAS REVIEWED BY OUTSIDE EXPERTS BEFORE RELEASE.

HOWEVER, THE RESEARCH

AND THE VIEWS EXPRESSED WITHIN THIS PAPER ARE THOSE OF THE INDIVIDUAL RESEARCHER(S) AND DO NOT NECESSARILY REPRESENT THE VIEWS OF THE JAMES

A. BAKER III INSTITUTE FOR

PUBLIC POLICY NOR THOSE OF THE JAPAN PETROLEUM ENERGY CENTER.

© 2007 BY THE JAMES A. BAKER III INSTITUTE FOR PUBLIC POLICY OF RICE UNIVERSITY

THIS MATERIAL MAY BE QUOTED OR REPRODUCED WITHOUT PRIOR PERMISSION,
PROVIDED APPROPRIATE CREDIT IS GIVEN TO THE AUTHOR AND THE JAMES A. BAKER III INSTITUTE FOR PUBLIC POLICY.

2

International Oil Companies

ABOUT THE POLICY REPORT
THE CHANGING ROLE OF NATIONAL OIL COMPANIES IN INTERNATIONAL ENERGY MARKETS
Of world proven oil reserves of 1,148 billion barrels, approximately 77% of these resources are under the control of national oil companies (NOCs) with no equity participation by foreign, international oil companies (IOCs). The Western IOCs now control less than 10% of the world’s oil and gas resource base. In terms of current world oil production, NOCs also dominate. Of the top 20...

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