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

$160.00 (C)

David Hults, Mark Thurber, David Victor, Christofer Warshaw, Pete Nolan, Paul Stevens, Paasha Mahdavi, Ognen Stojanovski, Binbin Jiang, Varun Rai, Adilson de Oliveira, John Entelis, Benedicte Tangen Istad, Nadejda Victor, Inna Sayfer, Ify Emelife, Patrick R. P. Heller, Leslie Lopez
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  • Date Published: January 2012
  • availability: Available
  • format: Hardback
  • isbn: 9781107004429

$160.00 (C)

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About the Authors
  • 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 policy makers.

    • Provides a comprehensive analysis of the world's major energy players, including country case studies from the Middle East, Latin America, Africa and Asia
    • Features fresh insights on the future of the oil industry through an analysis of future oil prices, supplies and opportunities for private-sector involvement
    • Explores the politics and industrial organization of the oil business using clear, non-technical terms
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    Reviews & endorsements

    '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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    Product details

    • Date Published: January 2012
    • format: Hardback
    • isbn: 9781107004429
    • length: 1036 pages
    • dimensions: 229 x 152 x 54 mm
    • weight: 1.54kg
    • contains: 45 b/w illus. 80 tables
    • availability: Available
  • 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 - 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

  • Editors

    David G. Victor, University of California, San Diego
    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, Stanford University, California
    David R. Hults is a research affiliate at the Program on Energy and Sustainable Development (PESD) at Stanford University.

    Mark C. Thurber, Stanford University, California
    Mark Thurber is Assistant Director for Research at the Program on Energy and Sustainable Development (PESD) at Stanford University.


    David Hults, Mark Thurber, David Victor, Christofer Warshaw, Pete Nolan, Paul Stevens, Paasha Mahdavi, Ognen Stojanovski, Binbin Jiang, Varun Rai, Adilson de Oliveira, John Entelis, Benedicte Tangen Istad, Nadejda Victor, Inna Sayfer, Ify Emelife, Patrick R. P. Heller, Leslie Lopez

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