Don't look now, but five nationally owned oil companies (NOCs) control more than half the world's reserves of oil and natural gas. In today's media culture you might expect those firms to be under a constant microscope, but their operations tend to be cloaked in bureaucratic smoke. Valerie Marcel's book sheds valuable light on the way these companies operate and their red-tape constraints. While the book suffers from a rather colorless presentation, it more than compensates with insights into what the NOCs are and how they relate to the world's insatiable thirst for petroleum. getAbstract recommends this report to serious students of the global energy business.
In this summary, you will learn
- What a powerful role national oil companies (NOCs) play in the global energy business;
- How the NOCs' unique private-public hybrid influences the way they operate;
- What unique challenges they face; and
- How NOCs may grow in the future.
About the Authors
Valerie Marcel is a principal researcher at Chatham House, the Royal Institute for International Affairs, a leading independent research organization. An expert on energy issues, she co-authored Iraq's Oil Tomorrow with associate research fellow John V. Mitchell.