UID:
almahu_9949386954302882
Format:
1 online resource.
ISBN:
1000467155
,
9781003025283
,
1003025285
,
9781000467079
,
1000467074
,
9781000467154
Series Statement:
Routledge studies in international business and the world economy ; 80
Content:
"National oil companies are big business with about eighty 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"--
Note:
State or Market? -- Both or Neither? -- A Brief Historical Overview -- The First Wave: Colonial Oil Importers -- The Second Wave: Oil Exporters -- The Third Wave: Russia And China In The 21st Century -- Intentions And Design -- Capturing Economic Rent -- Oil Risk, Business Culture And Governance -- Conflictual Interaction -- Follow The Mone.
Additional Edition:
Print version: Noreng, Øystein, 1942- Oil business and the state Abingdon, Oxon ; New York, NY : Routledge, 2022 ISBN 9780367860141
Language:
English
Keywords:
Electronic books.
URL:
https://www.taylorfrancis.com/books/9781003025283
