National oil companies are big business with about 80 percent of the world’s proven oil reserves, and they are crucial to the world’s energy supplies. They are giants, some of the world’s largest companies, measured by market capitalisation, cash flow and investment. Little is known about their modus operandi, how they make decisions about investment and production or about relations with their government-owners. However, it is known that they conduct business with a political mandate, often with multiple long-term objectives, broadly defined and hard to quantify. 
Unclear mandates give national oil companies leeway to pursue their own distinctive interests, apart from those of the government-owner. As investors, governments are less zealous than private investors. They generally observe multiple objectives, not only return on capital. Therefore, the senior management of national oil companies enjoy more discretionary power and consider longer time horizons than their counterparts in the private sector. The Oil Business and the State explains the practice of state ownership in a capital-intensive industry with high risks and high return, and how these companies act in a market with imperfect competition. This book looks to give readers more insight into the oil industry, into the background of oil exporting countries as well as the economic and political challenges confronting them, including problems of state ownership. The book discusses wider consequences of China replacing the United States as the world’s leading oil importer. 
It will be of interest to researchers, academics and students in the fields of international business, management history, corporate governance, political economy and economic development of oil-rich countries.

The Oil Business and the State (Routledge Studies in International Business and the World Economy)

Business & Money

Noreng, Øystein

Biography & History

Routledge

The Oil Industry and Government Strategy in the North Sea

The oil industry and government strategy in the North Sea

Industries

International Research Center for Energy and Economic Development

The Oil Business and the State: National Energy Companies and Government Ownership (Routledge Studies in International Business and the World Economy)

The Oil Industry and Government Strategy in the North Sea (Routledge Library Editions: The Economics and Politics of Oil and Gas)

Originally published in 1980, this book presents a comparative analysis of British and Norwegian oil policies, focusing on the interdependence and bargaining relationship between governments and oil companies, as well as the policy choices, concerns and constraints for the two governments. The perspective is largely that of a government planner, whose main concerns are the long-term and complex interests of the state, orderly development as well as social and political stability.

Reference

In the current political climate of the Middle East and Central Asia, with anti-Americanism and the threat of terrorism in such countries as Saudi Arabia running high, oil will impact the world economy as well as thousands of lives in the future. This is an indispensable book for anyone concerned with the fate of the world today, especially the interplay of power and money in the Middle East and beyond.

Crude Power: Politics and the Oil Market (Library of International Relations)

Economics

I.B.Tauris

Almost 30 years after the first oil price shock if 1973-4, oil remains of crucial importance to consumers and producers alike. A major analysis of the world's dependency on Middle Eastern oil, this work examines the economic and political reasons behind the fluctuation in the world oil prices and the shifting balance of power between the major oil exporters of the region.

Crude Power: Politics and the Oil Market

See the best price to sell, buy, or rent books by Noreng, Øystein. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Books by Noreng, Øystein

See the best price to sell, buy, or rent books by Noreng, Øystein. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

The Oil Business and the State (Routledge Studies in International Business and the World Economy)

The oil industry and government strategy in the North Sea

The Oil Business and the State: National Energy Companies and Government Ownership (Routledge Studies in International Business and the World Economy)

The Oil Industry and Government Strategy in the North Sea (Routledge Library Editions: The Economics and Politics of Oil and Gas)

The Oil Industry and Government Strategy in the North Sea (Routledge Library Editions: The Economics and Politics of Oil and Gas)

Crude Power: Politics and the Oil Market (Library of International Relations)

Crude Power: Politics and the Oil Market