A national oil company (NOC) is a petroleum company that is fully (or in the majority) owned by the government of a sovereign nation. NOCs accounted for 45.6% of global oil production and controlled 56% of proven oil reserves in 2018.[1]
Due to their increasing dominance over global reserves, the importance of NOCs has risen dramatically in recent decades relative to International Oil Companies (IOCs), such as BP, ExxonMobil or Shell plc. NOCs are also increasingly investing outside their national borders.
See also
References
- ↑ Tordo, Silvana (2011). "National oil companies and value creation" (PDF).
{{cite journal}}: Cite journal requires|journal=(help)
External links
| Concepts | |
|---|---|
| Basic services | |
| Public utility | |
| Public works | |
| Social services | |
| |
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.