In most European countries upstream activities are assumed more
concentrated compared to downstream segments wherein the level of
effective competition and deregulation policies plays a crucial
role. Globalized oil markets are not homogenous and the
characteristics and the degree of competition differ even among the
various sub segments of the same oil industry. The oil industry in
the EU continues to be dominated by large, integrated and often
multinational companies that are active in all stages of oil
production (extraction, processing/refinement and retail). They can
be distinguished into multinational majors and minimajors -
multinational companies that limit their activities to few Member
States. Other competitors, predominantly active at the national
level. In the USA, the oil industry is dominated by large,
multinational companies that are engaged in a wide range of
business activities. However, their most important activities are
related with the petroleum sector. Most of the oil companies are
either fully vertically integrated or independent producers
General
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