Book contents
- Frontmatter
- Contents
- Figures
- Tables
- Boxes
- Contributors
- Acknowledgements
- Part I Introduction
- Part II Thematic studies of national oil companies
- Part III National oil company case studies
- 5 Saudi Aramco: the jewel in the crown
- 6 Oil, monarchy, revolution, and theocracy: a study on the National Iranian Oil Company (NIOC)
- 7 Handcuffed: an assessment of Pemex’s performance and strategy
- 8 Kuwait Petroleum Corporation (KPC): an enterprise in gridlock
- 9 China National Petroleum Corporation (CNPC): a balancing act between enterprise and government
- 10 Petróleos de Venezuela, S.A. (PDVSA): from independence to subservience
- 11 Awakening giant: strategy and performance of the Abu Dhabi National Oil Company (ADNOC)
- 12 Brazil’s Petrobras: strategy and performance
- 13 Sonatrach: the political economy of an Algerian state institution
- 14 Norway’s evolving champion: Statoil and the politics of state enterprise
- 15 Gazprom: the struggle for power
- 16 NNPC and Nigeria’s oil patronage ecosystem
- 17 Fading star: explaining the evolution of India’s ONGC
- 18 Petronas: reconciling tensions between company and state
- 19 Angola’s Sonangol: dexterous right hand of the state
- Part IV Conclusions and implications
- Part V Appendices
- References
- Index
15 - Gazprom: the struggle for power
Published online by Cambridge University Press: 05 January 2012
- Frontmatter
- Contents
- Figures
- Tables
- Boxes
- Contributors
- Acknowledgements
- Part I Introduction
- Part II Thematic studies of national oil companies
- Part III National oil company case studies
- 5 Saudi Aramco: the jewel in the crown
- 6 Oil, monarchy, revolution, and theocracy: a study on the National Iranian Oil Company (NIOC)
- 7 Handcuffed: an assessment of Pemex’s performance and strategy
- 8 Kuwait Petroleum Corporation (KPC): an enterprise in gridlock
- 9 China National Petroleum Corporation (CNPC): a balancing act between enterprise and government
- 10 Petróleos de Venezuela, S.A. (PDVSA): from independence to subservience
- 11 Awakening giant: strategy and performance of the Abu Dhabi National Oil Company (ADNOC)
- 12 Brazil’s Petrobras: strategy and performance
- 13 Sonatrach: the political economy of an Algerian state institution
- 14 Norway’s evolving champion: Statoil and the politics of state enterprise
- 15 Gazprom: the struggle for power
- 16 NNPC and Nigeria’s oil patronage ecosystem
- 17 Fading star: explaining the evolution of India’s ONGC
- 18 Petronas: reconciling tensions between company and state
- 19 Angola’s Sonangol: dexterous right hand of the state
- Part IV Conclusions and implications
- Part V Appendices
- References
- Index
Summary
Introduction
Russia’s national oil company (NOC), Gazprom, is a deeply important player in world energy markets. If Gazprom were a country, its combined oil and gas reserves would rank behind only those of Saudi Arabia and Iran. In 2008, Gazprom controlled about 20% of the world’s natural gas reserves, 70% of Russia’s gas reserves, and 94% of Russia’s gas production.
Gazprom is also a major corporate player. Many of Gazprom’s shares are freely traded on the stock market where its market capitalization briefly stood above $300 billion before energy prices plunged in the second half of 2008. Gazprom is one of the fifty largest companies in the world and by any reasonable valuation of its assets the largest company in Russia (Fortune Global 500 Rankings 2009). In 2008, Gazprom alone accounted for more than 10 percent of Russia’s GDP and provided about 40 percent of its earnings to the federal budget (Gazprom 2009a).
- Type
- Chapter
- Information
- Oil and GovernanceState-Owned Enterprises and the World Energy Supply, pp. 655 - 700Publisher: Cambridge University PressPrint publication year: 2011
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