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Author: Silvana Tordo
Publisher: World Bank Publications
ISBN: 0821388312
Category : Business & Economics
Languages : en
Pages : 149
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Book Description
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?
Author: Silvana Tordo
Publisher: World Bank Publications
ISBN: 0821388312
Category : Business & Economics
Languages : en
Pages : 149
Get Book
Book Description
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?
Author:
Publisher:
ISBN:
Category : Oil industries
Languages : en
Pages : 17
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Book Description
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: Robert Pirog
Publisher: DIANE Publishing
ISBN: 1437938434
Category : Business & Economics
Languages : en
Pages : 20
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Book Description
In the U.S., the term ¿big oil co.¿ is likely to be taken to mean the major private international oil co., largely based in Europe or America. However, while some of those co. are indeed among the largest in the world, a majority of the largest oil co. are state-owned, national oil co. (NOC). NOC hold the majority of petroleum reserves and produce the majority of the world¿s supply of crude oil. NOC 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 co. in those activities. Contents of this report: Market Position of NOC; Objectives and Characteristics of NOC; Policy Analysis. Tables. This is a print on demand report.
Author: Silvana Tordo
Publisher: World Bank Publications
ISBN: 0821399349
Category : Business & Economics
Languages : en
Pages : 197
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Book Description
A number of countries have recently discovered and are developing oil and gas reserves. Policy makers in such countries are anxious to obtain the greatest benefits for their economies from the extraction of these exhaustible resources by designing appropriate policies to achieve desired goals. One important theme of such policies is the so-called local content created by the sector—the extent to which the output of the extractive industry sector generates further benefits to the economy beyond the direct contribution of its value-added, through its links to other sectors. While local content policies have the potential to stimulate broad-based economic development, their application in petroleum-rich countries has achieved mixed results. This paper describes the policies and practices meant to foster the development of economic linkages from the petroleum sector, as adopted by a number of petroleum-producing countries both in and outside the Organisation for Economic Co-operation and Development. Examples of policy objectives, implementation tools, and reporting metrics are provided to derive lessons of wider applicability. The paper presents various conclusions for policy makers about the design of local content policies.
Author: Raffaele Petruzzi
Publisher: Linde Verlag GmbH
ISBN: 3709410371
Category : Law
Languages : en
Pages : 572
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Book Description
Value Creation and its effects on Transfer Pricing and tax law Emerging from the OECD/G20 BEPS Project, a new, somewhat fuzzy notion of Value Creation came to permeate not only Transfer Pricing language but also wider allocation rules and anti-abuse provisions in international tax law. The notion of ‘Value Creation’ reframes the interpretation and application of the Arm’s Length Principle (ALP) that is embedded in Articles 7 and 9 of the OECD Model Convention. This new Value Creation notion and approach assist in understanding key enterprise functions while different industry sectors manifest these concepts in various ways. Situating such notions and this approach within the law of tax treaties and analyzing terms of the OECD Transfer Pricing Guidelines alongside their factual context is the aim of this book. Here, law students address Transfer Pricing and Value Creation in sectors as varied as commodities trade, automotive, consumer products, food and beverages, pharmaceutical and life sciences, telecommunications, and the key topic of value creation in a digitalized economy. Our LL.M. students were required to address issues not explored in legal research and to discuss factual topics relevant for Transfer Pricing. All students focused on topics that are new to the international tax debate that keep evolving and on factual matters that often escape legal research.
Author: Alvaro Cuervo-Cazurra
Publisher: Springer
ISBN: 3319517155
Category : Business & Economics
Languages : en
Pages : 287
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Book Description
This book provides a deep understanding of state-owned multinationals (SOMNCs) and their role in global business. SOMNCs have emerged as a force to contend with in global competition, and their study connects several fields such as economics, political economy, international business and global strategy. This prestigious collection of articles presents insights into the interaction between government ownership and internationalization, and aims to provoke new research approaches and insights on the topic. The book includes some of the key contributions to our understanding of these firms and new commentaries explaining how to analyze them. This book is essential reading for academics and consultants looking to gain a clearer understanding of SOMNCs and how to research them.
Author: Leslie E. Grayson
Publisher:
ISBN: 9780835745604
Category :
Languages : en
Pages : 277
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Book Description
Author: Alexander Huurdeman
Publisher: World Bank Publications
ISBN: 146481385X
Category : Business & Economics
Languages : en
Pages : 296
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Book Description
Petroleum discovery in a country presents its policy makers with a challenging and complex task: formulating and agreeing on policies that will shape the country’s petroleum sector and guide the translation of the newly discovered resources into equitable and sustainable economic and social growth for the nation over the long term. Balancing Petroleum Policy provides policy makers and other stakeholders with the basic sector-related knowledge they need to embark on this task. It introduces a number of topics: the petroleum value chain and pivotal factors affecting value creation, a consultative process for developing a nation’s common vision on key petroleum development objectives, design of a legislative and contractual framework, petroleum fiscal regimes and their administration, prudent fiscal management, transparency and governance, environmental and social safeguards, and economic diversification through industrial linkages. Although much of the material is relevant to designing policies for the development of the petroleum sector in general, the book gives special focus to developing countries, countries in a federal or devolved setting, and countries that have experienced or are still experiencing civil conflict. With this focus in mind, the book examines three questions—ownership, management, and revenue sharing of petroleum resources—that are central to petroleum policy in any federal or devolved state. It also offers important perspectives on how to prevent violent conflicts related to such resources. Petroleum policies tend to vary significantly from country to country, as do the objectives that such policies aim to achieve in the specific context of each particular country. Although there is no one-size-fits-all policy and there are no clear-cut answers to the many potential policy dilemmas associated with the discovery of petroleum resources, this publication may help policy makers find the right balance among the chosen objectives—and the right policy choices to achieve these objectives.
Author: Scott D. Anthony
Publisher: Harvard Business Review Press
ISBN: 1633692493
Category : Business & Economics
Languages : en
Pages : 272
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Book Description
Game-changing disruptions will likely unfold on your watch. Be ready. In Dual Transformation, Scott Anthony, Clark Gilbert, and Mark Johnson propose a practical and sustainable approach to one of the greatest challenges facing leaders today: transforming your business in the face of imminent disruption. Dual Transformation shows you how your company can come out of a market shift stronger and more profitable, because the threat of disruption is also the greatest opportunity a leadership team will ever face. Disruptive change opens a window of opportunity to create massive new markets. It is the moment when a market also-ran can become a market leader. It is the moment when business legacies are created. That moment starts with the core dual transformation framework: Transformation A: Repositioning today’s business to maximize its resilience, such as how Adobe boldly shifted from selling packaged software to providing software as a service. Transformation B: Creating a new growth engine, such as how Amazon became the world’s largest provider of cloud computing services. Capabilities link: Fighting unfairly by taking advantage of difficult-to-replicate assets without succumbing to the “sucking sound of the core.” Anthony, Gilbert, and Johnson also address the characteristics leaders must embrace: courage, clarity, curiosity, and conviction. Without them, dual transformation efforts can founder. Building on lessons from diverse companies, such as Adobe, Manila Water, and Netflix, and a case study from Gilbert’s firsthand experience transforming his own media and publishing company, Dual Transformation will guide executives through the journey of creating the next version of themselves, allowing them to own the future rather than be disrupted by it.
Author: Justin Pettit
Publisher: John Wiley & Sons
ISBN: 1119376548
Category : Business & Economics
Languages : en
Pages : 194
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Book Description
The energy industry's accelerated evolution requires visionary change The Final Frontier parses the evolution of the oil and gas sector to map out a plan for going forward. The global energy industry is huge, and it is in disarray; between low oil and gas prices, climate change, rising development costs, and ever-mounting regulations, the need for change has been made crystal clear—but planning is much easier than implementation, and stasis is not progress. This book shows how redesigning internal operating models can bring about the necessary change in the implementation of upstream capabilities-driven strategies. From integrated, national, major, and independent oil companies, to the service companies in the upstream supply chain, there isn't an enterprise in the sector that cannot benefit from reduced costs and increased efficiency. Knowing that change is necessary is not enough—this book shows you what to change, and how to change it to get off the treadmill and start moving forward. With expert guidance through each redesign element, this insightful guide provides more than simply ideas: it provides real, practical guidance on transforming operations to keep pace with the changes and create lasting advantage. Identify the most relevant organizational capabilities for your resource portfolio, as well as the changes that can translate into savings and efficiency Build a workable plan for real-world implementation Redesign the operating model most suited to the needs of your business on an organization-wide basis Learn what to do differently and how to do it differently The energy industry has made great strides: our understanding of the global resource base, the nature of ownership and principal stakeholders, new technologies for resource development, and our economics and business models have all undergone a tremendous revolution, but now the more difficult—and more valuable—task begins. The Final Frontier helps you navigate the future and implement the changes necessary to avoid getting left behind.
