Oil titans: national oil companies in the Middle East Marcel, Valerie

Includes bibliographical references (p. 295-304) and index.

Ninety percent of the worlds oil reserves are entrusted to state-owned companies. Originally created as political instruments, these so-called national oil companies (NOCs) face new demands amid todays dwindling oil reserves and simmering social pressures. Increasingly, state-owned oil firmsparticularly in the Middle Eastare having to balance the political demands of their governments with the need to be commercially competitive. In this ground-breaking new volume, Valerie Marcel draws on unprecedented access to the politicians, engineers; and businessmen directing five Middle Eastern state oil companies to shed light on one of the most secretive segments of the international oil industry. The book provides rare, up-to-date insight into how state-owned companies are striking a balance between their national mission and their commercial needs. The book also provides an insiders guide to these companies unique culture.