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Energy TNC's, OPEC countries and other large producers are increasingly powerful in the global supply of energy Investigate the increasing economic and political power of selected energy TNC's and producer groups. http:// en.wikipedia.org/wiki/Petroleum_industry.
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Energy TNC's, OPEC countries and other large producers are increasingly powerful in the global supply of energy Investigate the increasing economic and political power of selected energy TNC's and producer groups http://en.wikipedia.org/wiki/Petroleum_industry
National state energy companies v TNC’s Historically, the energy industry has been dominated by large TNC’s –they are some of the largest corporations in the World Their annual profits are colossal –particularly when oil prices are high However, their power is being challenged –firstly by OPEC and more recently by the rise state owned energy companies.
The upstream oil sector is a term commonly used to refer to the searching for and the recovery and production of crude oil and natural gas. The upstream oil sector is also known as the exploration and production (E&P) sector. The midstream industry processes, stores, markets and transports commodities such as crude oil, natural gas, natural gas liquids (LNGs, mainly ethane, propane and butane) and sulphur The downstream oil sector is a term commonly used to refer to the refining of crude oil, and the selling and distribution of natural gas and products derived from crude oil. Such products include liquified petroleum gas (LPG), gasoline or petrol, jet fuel, diesel oil, other fuel oils, asphalt and petroleum coke. The downstream industry touches consumers through thousands of products such as petrol, diesel, jet fuel, heating oil, asphalt, lubricants, synthetic rubber, plastics, fertilizers, antifreeze, pesticides, pharmaceuticals, natural gas and propane.
Oil producing countries According to the International Energy Agency(IEA), in 2011 the top ten oil-producing countries accounted for over 63% of the world's oil production. As of 2012 November, Russia produced 10.9 million barrels of crude per day, while Saudi Arabia produced 9.9 million barrels. In 2012 November the IEA stated that the United States would surpass Russia and Saudi Arabia and become the world's largest oil producer sometime between 2017 and 2020. • http://en.wikipedia.org/wiki/List_of_countries_by_oil_production http://en.wikipedia.org/wiki/List_of_countries_by_oil_production
IOC International oil Companies NOC: National oil companies
Big oil: TNCs • Supermajor and other oil and gas TNCs control most oil and gas extraction, refining and distribution. • State owned oil companies own / control access to 95% of world oil and gas reserves
http://www.forbes.com/pictures/mef45glfe/not-just-the-usual-suspects-2/http://www.forbes.com/pictures/mef45glfe/not-just-the-usual-suspects-2/ • http://petroleuminsights.blogspot.co.il/2011/12/suncor-up-conocophillips-down-in-piws.html#.UhDOiOrRrIU
When considering Oil production statistics 4 points arise: • Of the top 20 oil companies at least 8 are state owned. (they are not TNC’s) They are public rather than private sector companies. They are government owned and are more active in the realms of geopolitics. (the study of the ways in which political decisions and processes affect the way space and resources are used. The relationship between geography, economics and politics) • The remaining companies are relatively free of direct political influence and driven more by economic considerations and shareholders. • Most of the top companies are involved in a range of operations of which pumping oil is only one. They are also engaged in transporting and refining oil and in petrochemical industries. Exploration for new reserves and the search for new sources are also important. • Their diversity and presence in many countries ensure that TNC's will continue to be key players.
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