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The Rapid Rise Of National Oil Companies By Vanand Meliksetian - Feb 09, 2021, 12:00 PM CST The world oil markets are facing a perfect storm which eventually could lead to structural economic and geopolitical changes. While Covid-19 has decimated markets and slashed profits, climate awareness and a green restart are gaining momentum in most developed countries. While it remains uncertain how demand will develop over the next few decades, it is becoming more likely that the traditional economic ‘power balance’ between international and national oil companies will change. Before the oil crisis of 1973, Western oil companies were the dominant force on the global market with drilling, logistics, refining, and downstream capabilities. The wave of nationalism that swept through producing countries in the post-war period changed the balance when nationalization policies created ‘National Oil Companies’ (NOC). Western firms were called ‘International Oil Companies’

Saudi arabiaUnited kingdomVanand meliksetianSaudi aramcoInternational oil companieNational oil companieBernstein energyBritish shellNetherlands shellOil pricesOil marketsOil supplyசவுதி அரேபியாஒன்றுபட்டது கிஂக்டம்சவுதி அரம்கோசர்வதேச எண்ணெய் தோழர்