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Privatising National Oil Companies
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Book Synopsis Privatising National Oil Companies by : Christian Wolf
Download or read book Privatising National Oil Companies written by Christian Wolf and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study empirically investigates the impact of privatisation on firm performance in the global oil and gas industry, where questions of resource control have regained widespread attention. Using a dataset of 60 public share offerings by 28 National Oil Companies it is shown that privatisation is associated with comprehensive and sustained improvements in performance and efficiency. Over the seven-year period around the initial privatisation offering, return on sales increases by 3.6 percentage points, total output by 40%, capital expenditure by 47%, and employment intensity drops by 35%. Many of our observed performance improvements are already realised in anticipation of the initial privatisation date, accrue over time, and level off after the initial ownership change rather than accelerate. Details of residual government ownership, control transfer, and size and timing of follow-on offerings provide limited incremental explanatory power for firm performance, except for employment intensity. Based on these results partial privatisations in the oil sector might be seen to capture a significant part of the performance improvement associated with private capital markets without the selling government having to cede majority control.
Book Synopsis The Guide to World Energy Privatisation by :
Download or read book The Guide to World Energy Privatisation written by and published by . This book was released on 1995 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Privatization and the Globalization of Energy Markets by : United States. Energy Information Administration
Download or read book Privatization and the Globalization of Energy Markets written by United States. Energy Information Administration and published by . This book was released on 1996 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Does Ownership Matter? by : Christian Otto Herbert Wolf
Download or read book Does Ownership Matter? written by Christian Otto Herbert Wolf and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Oil Privatization, Public Choice and International Forces by : Stephanie M. Hoopes
Download or read book Oil Privatization, Public Choice and International Forces written by Stephanie M. Hoopes and published by Springer. This book was released on 2016-07-27 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: A major part of the British government's privatization programme, which has been heralded as a radical break in government, were its oil assets. This book uses institutional public choice models to examine the case study of the sale of Britoil, British Petroleum, Enterprise Oil and Wytch Farm, and then re-assembles the pieces to better understand the whole. The extensive interviews provide a full and flavourful background to exploring the actors at four levels of structures: international, state-owned companies, civil service and the political process.
Book Synopsis The Role of National Oil Companies in the International Oil Market by :
Download or read book The Role of National Oil Companies in the International Oil Market written by and published by . This book was released on 2007 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the United States, the term "big oil companies" is likely to be taken to mean the major private international oil companies, largely based in Europe or America. However, while some of those companies are indeed among the largest in the world, by many important measures, a majority of the largest oil companies are state-owned, national oil companies. By conventional definitions, national oil companies hold the majority of petroleum reserves and produce the majority of the world's supply of crude oil. Since national oil companies generally hold exclusive rights to exploration and development of petroleum resources within the home country, they also can decide on the degree to which they require participation by private companies in those activities.
Author :United States. Congress. House. Committee on Commerce. Subcommittee on Energy and Power Publisher : ISBN 13 : Total Pages :100 pages Book Rating :4.0/5 (18 download)
Book Synopsis Privatization of the Naval Petroleum Reserve by : United States. Congress. House. Committee on Commerce. Subcommittee on Energy and Power
Download or read book Privatization of the Naval Petroleum Reserve written by United States. Congress. House. Committee on Commerce. Subcommittee on Energy and Power and published by . This book was released on 1995 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Privatisation of National Oil Companies in Ghana by : Simons Yao Akorli
Download or read book Privatisation of National Oil Companies in Ghana written by Simons Yao Akorli and published by . This book was released on 1997 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Privatisation of the Argentine State Owned Oil Company by : S. F. Albarracin
Download or read book Privatisation of the Argentine State Owned Oil Company written by S. F. Albarracin and published by . This book was released on 1995 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Rise and Fall of Privatization in the Russian Oil Industry by : L. Sim
Download or read book The Rise and Fall of Privatization in the Russian Oil Industry written by L. Sim and published by Springer. This book was released on 2008-10-24 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: A study of the actors and institutions that shaped decision-making on privatization in the Russian oil industry between 1992 and 2006. The book analyses the origins of privatization as a policy on a macro, industry-wide level, as well as presenting three in-depth case studies of privatization on a company level.
Book Synopsis Privatization and Deregulation in the Gulf Energy Sector by :
Download or read book Privatization and Deregulation in the Gulf Energy Sector written by and published by teNeues. This book was released on 1999 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Papers ... presented at the Emirates Center for Strategic Studies and Research (ECSSR), Third Annual Energy Conference entitled Privatization and deregulation in the Gulf energy sector, held in Abu Dhabi, 25-26 October 1997"--P. 4 of cover.
Book Synopsis National Oil Companies and Value Creation by : Silvana Tordo
Download or read book National Oil Companies and Value Creation written by Silvana Tordo and published by World Bank Publications. This book was released on 2011-07-13 with total page 149 pages. Available in PDF, EPUB and Kindle. Book excerpt: National Oil Companies (NOCs) directly or indirectly control the majority of oil and gas reserves. As such, they are of great consequence to their country's economy, to importing countries' energy security, and to the stability of oil and gas markets. The paper analyzes the available evidence on the objectives, governance and performance of 20 NOCs from both net importing and net exporting countries, and draws conclusions about the design of policies and measures that are more likely to lead to social value creation. NOCs differ from private companies on a number of very important variables, including the level of competition in the market in which they operate, their business profile along the sector value chain, and their degree of commercial orientation and internationalization. Most share some core characteristics: they are usually tied to the 'national purpose' and serve political and economic goals other than maximizing the firm's profits. This paper introduces a conceptual model to analyze value creation by NOCs that takes into consideration their complex objective function. Our analysis aims to answer the following questions: Are certain corporate governance arrangements more suited than others to promote value creation? Is good geology a pre-condition for NOC value creation? Are there benefits from exposing the NOC to competition from private oil companies? Does the development of forward and backward linkages hamper NOC value creation?
Book Synopsis The Welfare Implications of Oil Privatization by : Christian O. H. Wolf
Download or read book The Welfare Implications of Oil Privatization written by Christian O. H. Wolf and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The oil industry is of great economic significance to many countries, and privatisations of National Oil Companies (NOCs) have often been controversial, as have been the benefits from privatisation more generally. We conduct a social cost-benefit analysis of the partial privatisation of Norway's Statoil and estimate net present welfare improvements of at least NOK 166 billion (US$18.4 billion) in 2001 money, which amounts to 11% of Norway's GDP in that year. Savings on investment costs are the most important source of efficiency improvements, and two thirds of the overall benefits accrue at fellow stakeholders in Statoil-led operations. The state manages to capture 66% of the total welfare gain, with the remainder going to private shareholders and no changes to consumer surplus. It is shown that benefits from partial privatisation can be substantial, particularly if ownership change is supported by additional restructuring measures, and that privatisation can be structured with state involvement at several levels, aiming to maximise the public share of benefits.
Book Synopsis A Comparative History of National Oil Companies by : Alain Beltran
Download or read book A Comparative History of National Oil Companies written by Alain Beltran and published by Peter Lang. This book was released on 2010 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: Proceedings of a conference held in Nov. 2003.
Book Synopsis Towards New Arrangements for State Ownership in the Middle East and North Africa by : OECD
Download or read book Towards New Arrangements for State Ownership in the Middle East and North Africa written by OECD and published by OECD Publishing. This book was released on 2012-03-05 with total page 175 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication provides insight into the varied and rich experience in SOE reform in the region over the past decade, highlighting reform initiatives undertaken at national and country specific levels.
Book Synopsis The Impact of Privatisation by : Stephen Martin
Download or read book The Impact of Privatisation written by Stephen Martin and published by Psychology Press. This book was released on 1997 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past decade economic policy in the UK and elsewhere has been guided by the belief that resources are used more efficiently in the private sector than under state ownership. Consequently, many formerly state-owned companies have been transferred to the private sector. After surveying the theoretical arguments for and against this hypothesis, this book examines the experience of eleven firms, including British Airways, Rolls-Royce and British Telecom. Various indicators are used to measure each firm's performance before and after privatisation to assess whether this policy has brought about improvements in efficiency. The first four chapters provide background material for the empirical work that follows. Chapter 1 outlines the theoretical arguments for and against the idea that private ownership will be more efficient than state control. Chapter 2 provides brief histories of the eleven organisations studied and chapter 3 discusses how their performance can be measured. Chapter 4 reviews the literature on the relative efficiency of public and private ownership. Chapter 5 considers the impact of privatisation on each of the eleven firms' labour and total factor productivity growth. Chapter 6 performs a similar analysis using two standard accounting ratios (value-added and the rate of profit). Chapter 7 assesses the impact of privatisation on technical efficiency using data envelopment analysis. In chapter 8 the impact of ownership on employment, wage levels and the distribution of business income is considered. The penultimate chapter discusses the restructuring that has followed each company's move into the private sector, and the final chapter summarises the results.
Book Synopsis Oil and Gas Privatisation in Iran by : Reza Molavi
Download or read book Oil and Gas Privatisation in Iran written by Reza Molavi and published by Apollo Books. This book was released on 2012-05 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book explores the potential for the privatization of some of Iran's national institutions, in particular whether there is the political will to privatize the Iranian oil and gas industry. This work presents an historical overview of Iran since World War II in order to build a context for the determinants of privatisation policy in Iran.
