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

The largest and most systematic analysis of national oil companies to date.

David G. Victor (Edited by), David R. Hults (Edited by), Mark C. Thurber (Edited by)

9781107438965, Cambridge University Press

Paperback / softback, published 21 August 2014

1036 pages, 45 b/w illus. 80 tables
22.9 x 15.2 x 5.2 cm, 1.36 kg

'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

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.

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 - Petróleos 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.

Subject Areas: Environmental science, engineering & technology [TQ], Energy & natural resources law [LNCR], Political economy [KCP], Environmental economics [KCN]