Geography 2143A/B Lecture Notes - National Oil Company, Pdvsa, Barnett Shale
27 Mar 2014
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Document Summary
Nationalizations in the 1970s and 1980s and tougher terms in the 1990s and 2000s mean western oil giants face shrinking access to global oil and gas reserves. One of the biggest changes happened in energy market in the last 50 years has been rise of national oil companies versus what formerly dominated the international market companies (e. g. exxonmobil, shell_ Early history of development of oil: it was the predecessors of multinationals responsible for developing world system of oil deliveries. Starting 1960s oil bearing countries decided they wanted to capture more of the raw materials and created a number of their own individual oil companies. Various political and economic pressures able to gain control of resources previously under big companies. About 85% of world"s oil were accessible to common names of oil companies. By today, 65% of today"s reserves are held by national companies.
