What are the characteristics of International Oil Companies vs. those of National Oil Companies (NOC)?

NOCs are state-owned entities, and are often used as policy tools for the home government. With this comes the bureaucracy and bloat that you would expect with a well-funded arm of government.





Most field controlled by NOCs have also been developed by intl firms at some point and reclaimed by the country. Intl companies have managed to maintain their value in these circumstances by being more technologically advanced, and using there development skills to create more efficient wells and maintain barginaing power with Oil-rich countries, which stil require their expertise.





You can also get a recent issue of The Economist from Aug 12th - they have a 3 page special report on NOCs - Petrobras/ Venezuela in particular.What are the characteristics of International Oil Companies vs. those of National Oil Companies (NOC)?
National oil companies will have to adhere to the administered price of the government of that country. International companies have the benefit of the margin with which national oil ciompanies import and hence can supply without any problem to the administered price.


VR