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Article: Reports of IOCs' demise greatly exaggerated.(international oil companies)
- Article from:
- Petroleum Intelligence Weekly
- Article date:
- February 25, 2008
CopyrightCOPYRIGHT 2008 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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It has become commonplace to suggest that international oil companies (IOC) are an endangered species. In this view, the combination of fewer upstream openings, aggressive national oil companies (NOC) and rising resource nationalism with a host of other factors points to eventual extinction. The IOCs' old strengths in project execution are no longer the unique selling points they once were, and are in some cases badly tarnished. There is little doubt the game is changing and the NOC-IOC relationship is becoming more complicated and demanding. But predictions of the IOCs' demise belie Big Oil's ability to adapt. Speaking at last week's IP Week conference in London, the ...
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