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Books > Business & Economics > Business & management > Management & management techniques > Organizational theory & behaviour
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The Oil Business and the State - National Energy Companies and Government Ownership (Hardcover)
Loot Price: R4,933
Discovery Miles 49 330
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The Oil Business and the State - National Energy Companies and Government Ownership (Hardcover)
Series: Routledge Studies in International Business and the World Economy
Expected to ship within 12 - 19 working days
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National oil companies are big business with about 80 percent of
the world's proven oil reserves, and they are crucial to the
world's energy supplies. They are giants, some of the world's
largest companies, measured by market capitalisation, cash flow and
investment. Little is known about their modus operandi, how they
make decisions about investment and production or about relations
with their government-owners. However, it is known that they
conduct business with a political mandate, often with multiple
long-term objectives, broadly defined and hard to quantify. Unclear
mandates give national oil companies leeway to pursue their own
distinctive interests, apart from those of the government-owner. As
investors, governments are less zealous than private investors.
They generally observe multiple objectives, not only return on
capital. Therefore, the senior management of national oil companies
enjoy more discretionary power and consider longer time horizons
than their counterparts in the private sector. The Oil Business and
the State explains the practice of state ownership in a
capital-intensive industry with high risks and high return, and how
these companies act in a market with imperfect competition. This
book looks to give readers more insight into the oil industry, into
the background of oil exporting countries as well as the economic
and political challenges confronting them, including problems of
state ownership. The book discusses wider consequences of China
replacing the United States as the world's leading oil importer. It
will be of interest to researchers, academics and students in the
fields of international business, management history, corporate
governance, political economy and economic development of oil-rich
countries.
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