A national oil company (NOC) is a petroleum company that is fully (or in the majority) owned by the government of a sovereign nation. NOCs accounted for 45.6% of global oil production and controlled 56% of proven oil reserves in 2018.[1]
Due to their increasing dominance over global reserves, the importance of NOCs has risen dramatically in recent decades relative to International Oil Companies (IOCs), such as BP, ExxonMobil or Shell plc. NOCs are also increasingly investing outside their national borders.[citation needed]
national, company, national, company, petroleum, company, that, fully, majority, owned, government, sovereign, nation, nocs, accounted, global, production, controlled, proven, reserves, 2018, their, increasing, dominance, over, global, reserves, importance, no. A national oil company NOC is a petroleum company that is fully or in the majority owned by the government of a sovereign nation NOCs accounted for 45 6 of global oil production and controlled 56 of proven oil reserves in 2018 1 Due to their increasing dominance over global reserves the importance of NOCs has risen dramatically in recent decades relative to International Oil Companies IOCs such as BP ExxonMobil or Shell plc NOCs are also increasingly investing outside their national borders citation needed See also editList of petroleum companies Nationalization of oil supplies State owned enterpriseReferences edit Tordo Silvana 2011 National oil companies and value creation PDF a href Template Cite journal html title Template Cite journal cite journal a Cite journal requires journal help External links editNational Oil Company Database nbsp This article related to natural gas petroleum or the petroleum industry is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title National oil company amp oldid 1188678819, wikipedia, wiki, book, books, library,
