Open AccessWho are NOCs and IOCs and What Their Public Role is in The International Gas Industry and Oil?
Author(s) -
Ibrahim Mohamed Mahmoud Aboelkheir
Publication year - 2022
Publication title -
cognizance journal
Language(s) - English
Resource type - Journals
ISSN - 0976-7797
DOI - 10.47760/cognizance.2022.v02i04.004
Subject(s) - prosperity , scope (computer science) , petroleum industry , business , downstream (manufacturing) , fossil fuel , position (finance) , control (management) , finance , commerce , industrial organization , international trade , economics , marketing , economic growth , engineering , management , environmental engineering , computer science , programming language , waste management
National oil companies now control 77% of global oil and gas production compared to formerly dominant international oil companies. National oil companies appear to be recovering in global energy markets and now control most of the world's oil and gas reserves. Towards defining their public role, a research investigation was conducted to assess their current position and the steps necessitated to maintain and increase the scope of their public influence in terms of job creation and national economies. The findings of this publication were that international oil companies, independents and national oil companies need to think differently about how, where to invest and when assets are liquidated. More so, unlike independent companies and independent managers, national companies are also concerned about how downstream investments can be used to create jobs and prosperity for the national economies of national companies.