National Oil Company

From Wikipedia, the free encyclopedia

A National Oil Company (NOC) is an oil company fully or in the majority publicly owned. According to the IMF, NOCs had a share of around 50% in 2005 global oil production and a share of over 70% in global oil reserves.^[1]

Due to their increasing dominance over global reserves, the importance of NOCs relative to International Oil Companies (IOCs), such as ExxonMobil, BP Amoco or Royal Dutch/Shell, has risen dramatically in recent years. NOCs are also increasingly investing outside their national borders.

Major NOCs include:

• Saudi Arabian Oil Company (Aramco)
• Libya National Oil Company
• Petroleos Mexicanos
• Petroleos de Venezuela
• China National Petroleum (PetroChina)
• Nigerian National Petroleum Company
• Iraq National Oil Company
• Kuwait Petroleum Corporation
• Petrobras
• Petroleum Development Oman
• Petronas
• Sinopec

[edit] References

1. ^ International Monetary Fund (2006). "World Economic Outlook - Financial Systems and Economic Cycles". 

[edit] See also

• List of petroleum companies