Oil and Governance

Oil and Governance : State-Owned Enterprises and the World Energy Supply

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National oil companies (NOCs) play an important role in the world economy. They produce most of the world's oil and bankroll governments across the globe. Although NOCs superficially resemble private-sector companies, they often behave in very different ways. Oil and Governance explains the variation in performance and strategy for NOCs and provides fresh insights into the future of the oil industry as well as the politics of the oil-rich countries where NOCs dominate. It comprises fifteen case studies, each following a common research design, of NOCs based in the Middle East, Africa, Asia, Latin America and Europe. The book also includes cross-cutting pieces on the industrial structure of the oil industry and the politics and administration of NOCs. This book is the largest and most systematic analysis of NOCs to date and is suitable for audiences from industry and academia, as well as policymakers.
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Product details

  • Electronic book text | 600 pages
  • Cambridge University Press (Virtual Publishing)
  • Cambridge, United Kingdom
  • English
  • 45 b/w illus. 80 tables
  • 1139200372
  • 9781139200370

Table of contents

List of figures; List of tables; Part I. Introduction: 1. Introduction David Hults, Mark Thurber and David Victor; Part II. Thematic Studies of National Oil Companies: 2. The political economy of expropriation and privatization in the oil sector Christofer Warshaw; 3. Hybrid governance: state management of national oil companies David Hults; 4. On the choice of oil company: risk, management, and the frontier of the petroleum industry Pete Nolan and Mark Thurber; Part III. National Oil Company Case Studies: 5. Saudi Arabia - Saudi Aramco: a giant amongst giants Paul Stevens; 6. Iran - oil, monarchy, revolution, and theocracy: a study on the National Iranian Oil Company (NIOC) Paasha Mahdavi; 7. Mexico - handcuffed: an assessment of Pemex's performance and strategy Ognen Stojanovski; 8. Kuwait - Kuwait Petroleum Corporation: an enterprise in grid Paul Stevens; 9. China - China National Petroleum Corporation (CNPC): a balancing act between enterprise and government Binbin Jiang; 10. Venezuela - Petroleos de Venezuela, S.A.: from independence to subservience David Hults; 11. United Arab Emirates - awakening giant: strategy and performance of the Abu Dhabi National Oil Company David Victor and Varun Rai; 12. Brazil - Petrobras: strategy and performance Adilson de Oliveira; 13. Algeria - Sonatrach: the political economy of an Algerian state institution John Entelis; 14. Norway - Norway's evolving champion: Statoil and the politics of state enterprise Mark Thurber and Benedicte Tangen Istad; 15. Russia - Gazprom: the struggle for power Nadejda Victor and Inna Sayfer; 16. Nigeria - the Nigerian National Petroleum Corporation (NNPC) and Nigeria's network for oil patronage Mark Thurber, Ify Emelife and Patrick R. P. Heller; 17. India - fading star: explaining the evolution of India's Oil and Natural Gas Corporation Limited (ONGC) Varun Rai; 18. Malaysia - Petronas: reconciling tensions between company and state Leslie Lopez; 19. Angola - Sonangol: dexterous right hand of the state Patrick R. P. Heller; Part IV. Conclusions and Implications: 20. Major conclusions and implications for the future of the oil industry David Victor, Mark Thurber and David Hults; Part V. Appendices: I. Performance ranking; II. Depletion; Index.
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Review quote

'State-owned oil companies play a pivotal role in today's petroleum industry. Policymakers, industry leaders, and interested observers alike will gain highly relevant insights into these key players from this excellent volume.' Harald Norvik, CEO of Statoil, 1988-1999 'David Hults, Mark Thurber and David Victor give us an illuminating and invaluable look at how the predominant state oil companies govern world oil supplies. A must-read for anyone interested in energy policy.' George P. Shultz, United States Secretary of State, 1982-1989
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About David R. Hults

David G. Victor is a professor at the School of International Relations and Pacific Studies at the University of California, San Diego, where he also leads the Laboratory on International Law and Regulation. David R. Hults is a research affiliate at the Program on Energy and Sustainable Development (PESD) at Stanford University. Mark Thurber is Assistant Director for Research at the Program on Energy and Sustainable Development (PESD) at Stanford University.
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