Publication:
Natural Oil Companies and Value Creation

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dc.contributor.authorTracy, Brandon S.
dc.contributor.authorTordo, Silvana
dc.contributor.authorArfaa, Noora
dc.date.accessioned2012-03-19T09:05:07Z
dc.date.accessioned2012-04-04T07:43:53Z
dc.date.available2012-03-19T09:05:07Z
dc.date.available2012-04-04T07:43:53Z
dc.date.issued2011-07-13
dc.description.abstractApproximately two billion dollars a day of petroleum are traded worldwide, which makes petroleum the largest single item in the balance of payments and exchanges between nations. Petroleum represents the larger share in total energy use for most net exporters and net importers. While petroleum taxes are a major source of income for more than 90 countries in the world, poor countries net importers are more vulnerable to price increases than most industrialized economies. This paper has five chapters. Chapter one describes the key features of upstream, midstream, and downstream petroleum operations and how these may impact value creation and policy options. Chapter two draws on ample literature and discusses how changes in the geopolitical and global economic environment and in the host governments' political and economic priorities have affected the rationale for and behavior of National Oil Companies' (NOCs). Rather than providing an in-depth analysis of the philosophical reasons for creating aNOC, this chapter seeks to highlight the special nature of NOCs and how it may affect their existence, objectives, regulation, and behavior. Chapter three proposes a value creation index to measure the contribution of NOCs to social value creation. A conceptual model is also proposed to identify the factors that affect value creation. Chapter four presents the result of an exploratory statistical analysis aimed to determine the relative importance of the drivers of value creation. In addition, the experience of a selected sample of NOCs is analyzed in detail, and lessons of general applicability are derived. Finally, Chapter five summarizes the conclusions.en
dc.identifierhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333038_20111123234110
dc.identifier.doi10.1596/978-0-8213-8831-0
dc.identifier.isbn978-0-8213-8831-0
dc.identifier.urihttps://hdl.handle.net/10986/2375
dc.identifier.urihttps://hdl.handle.net/10986/5922
dc.languageEnglish
dc.publisherWorld Bank
dc.relation.ispartofseriesWorld Bank Working Paper ; No. 218
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectACCOUNTING
dc.subjectACCOUNTING PRINCIPLES
dc.subjectALTERNATIVE ENERGY
dc.subjectAPPROACH
dc.subjectAUTONOMY
dc.subjectAVAILABILITY
dc.subjectBALANCE
dc.subjectBALANCE OF PAYMENTS
dc.subjectBARREL
dc.subjectBARRELS OF OIL
dc.subjectBARRIERS TO ENTRY
dc.subjectBENCHMARKS
dc.subjectBILATERAL TRADE
dc.subjectCAPACITY BUILDING
dc.subjectCAPACITY UTILIZATION
dc.subjectCENTRALLY PLANNED ECONOMIES
dc.subjectCOMMON GOOD
dc.subjectCOMPETITIVE ADVANTAGE
dc.subjectCOMPETITIVE MARKETS
dc.subjectCONCESSION
dc.subjectCONSUMPTION RATES
dc.subjectCONTRACTUAL ARRANGEMENTS
dc.subjectCONTRACTUAL OBLIGATIONS
dc.subjectCONTRACTUAL RELATIONSHIPS
dc.subjectCONVENTIONAL OIL
dc.subjectCOST SAVINGS
dc.subjectCROWDING OUT
dc.subjectCRUDE OIL
dc.subjectCRUDE OIL PRICE
dc.subjectCRUDE PRICE
dc.subjectCRUDE PRICES
dc.subjectDAMAGES
dc.subjectDECISION MAKING
dc.subjectDEVELOPMENT POLICIES
dc.subjectDISCOUNT RATE
dc.subjectDISECONOMIES OF SCALE
dc.subjectDOMESTIC OIL
dc.subjectDOMESTIC OIL PRODUCTION
dc.subjectDOWNSTREAM OIL
dc.subjectDRILLING
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC EFFICIENCY
dc.subjectECONOMIC GEOLOGY
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC IMPACT
dc.subjectECONOMIC INCENTIVES
dc.subjectECONOMIC PRIORITIES
dc.subjectECONOMIC RENT
dc.subjectECONOMIC SECTORS
dc.subjectECONOMIC THEORY
dc.subjectECONOMICS
dc.subjectECONOMIES OF SCALE
dc.subjectECONOMIES OF SCOPE
dc.subjectEMPIRICAL ANALYSIS
dc.subjectEMPIRICAL EVIDENCE
dc.subjectEMPIRICAL STUDIES
dc.subjectEMPLOYMENT
dc.subjectENERGY SOURCES
dc.subjectENERGY STRATEGIES
dc.subjectENERGY USE
dc.subjectENVIRONMENTAL
dc.subjectENVIRONMENTS
dc.subjectEXCESS SUPPLY
dc.subjectEXCHANGE RATES
dc.subjectEXPLOITATION
dc.subjectEXPLORATION AND PRODUCTION LICENSES
dc.subjectEXTRACTION
dc.subjectFEEDSTOCK
dc.subjectFEEDSTOCK COSTS
dc.subjectFINANCIAL CRISIS
dc.subjectFISCAL REGIME
dc.subjectFISCAL TERMS
dc.subjectFISH
dc.subjectFOREIGN EXCHANGE
dc.subjectFUEL
dc.subjectGAS COMPANIES
dc.subjectGAS EXPLORATION
dc.subjectGAS EXPLORATION AND PRODUCTION
dc.subjectGAS INDUSTRY
dc.subjectGAS INFRASTRUCTURE
dc.subjectGAS MARKETING
dc.subjectGAS MARKETS
dc.subjectGAS PRICES
dc.subjectGAS PROCESSING
dc.subjectGAS RESERVES
dc.subjectGAS RESERVES HOLDERS
dc.subjectGAS RESOURCES
dc.subjectGDP
dc.subjectGENERATION
dc.subjectGLOBAL OIL PRODUCTION
dc.subjectHORIZONTAL CONCENTRATION
dc.subjectHORIZONTAL INTEGRATION
dc.subjectHYDROCARBONS
dc.subjectINCOME TAX
dc.subjectINDUSTRIALIZATION
dc.subjectINEFFICIENCY
dc.subjectINTERGENERATIONAL EQUITY
dc.subjectINTERNAL COMBUSTION
dc.subjectINTERNAL COMBUSTION ENGINES
dc.subjectINTERNATIONAL OIL COMPANIES
dc.subjectINVENTORY
dc.subjectINVESTMENT OPPORTUNITIES
dc.subjectKEROSENE
dc.subjectKEROSENE LIGHTING
dc.subjectLIQUID FUEL
dc.subjectLIQUIDITY
dc.subjectLNG
dc.subjectMACROECONOMIC POLICIES
dc.subjectMARGINAL COSTS
dc.subjectMARKET LIBERALIZATION
dc.subjectMARKET PRICES
dc.subjectMINERAL
dc.subjectMONOPOLY
dc.subjectMULTINATIONAL CORPORATIONS
dc.subjectMULTIPLIER EFFECT
dc.subjectMULTIPLIER EFFECTS
dc.subjectMULTIPLIERS
dc.subjectNATIONAL ECONOMY
dc.subjectNATIONAL OIL
dc.subjectNATIONAL OIL COMPANIES
dc.subjectNATURAL GAS
dc.subjectNATURAL GAS PROJECTS
dc.subjectNATURAL RESOURCES
dc.subjectNET OIL
dc.subjectOIL AND GAS
dc.subjectOIL AND GAS SECTOR
dc.subjectOIL COMPANY
dc.subjectOIL DEMAND
dc.subjectOIL DISCOVERIES
dc.subjectOIL EXPLORATION
dc.subjectOIL EXPORTING COUNTRIES
dc.subjectOIL INDUSTRY
dc.subjectOIL MARKETING
dc.subjectOIL MARKETS
dc.subjectOIL PRICE
dc.subjectOIL PRICES
dc.subjectOIL PRODUCERS
dc.subjectOIL PRODUCING
dc.subjectOIL PRODUCTION
dc.subjectOIL PRODUCTS
dc.subjectOIL REFINING
dc.subjectOIL RESERVES
dc.subjectOIL SECTOR
dc.subjectOIL SUPPLY
dc.subjectOIL WELL
dc.subjectOIL-PRODUCING COUNTRIES
dc.subjectOPEC
dc.subjectOPEC COUNTRIES
dc.subjectOPPORTUNITY COST
dc.subjectORGANIZATION OF PETROLEUM EXPORTING COUNTRIES
dc.subjectOWNERSHIP STRUCTURE
dc.subjectPERCENT OF PRODUCTION
dc.subjectPETROCHEMICAL INDUSTRY
dc.subjectPETROCHEMICALS
dc.subjectPETROCHEMICALS INDUSTRY
dc.subjectPETROLEUM
dc.subjectPETROLEUM ASSETS
dc.subjectPETROLEUM COMPANY
dc.subjectPETROLEUM CONTRACTS
dc.subjectPETROLEUM CORPORATION
dc.subjectPETROLEUM EXPLORATION
dc.subjectPETROLEUM INDUSTRY
dc.subjectPETROLEUM MARKETS
dc.subjectPETROLEUM POLICY
dc.subjectPETROLEUM PRODUCING
dc.subjectPETROLEUM PRODUCING COUNTRIES
dc.subjectPETROLEUM PRODUCTION
dc.subjectPETROLEUM RESERVES
dc.subjectPETROLEUM RESERVOIRS
dc.subjectPETROLEUM RESOURCES
dc.subjectPETROLEUM SECTOR
dc.subjectPETROLEUM STOCKS
dc.subjectPIPELINE
dc.subjectPIPELINES
dc.subjectPOLICY DECISIONS
dc.subjectPOLICY MAKERS
dc.subjectPOLITICAL ECONOMY
dc.subjectPOLLUTION
dc.subjectPOWER
dc.subjectPRESENT VALUE
dc.subjectPRICE CONTROLS
dc.subjectPRICE DISCRIMINATION
dc.subjectPRICE EXPECTATIONS
dc.subjectPRICE INCREASES
dc.subjectPRIVATE COSTS
dc.subjectPRIVATE PARTICIPATION
dc.subjectPRIVATE SECTOR
dc.subjectPRIVATE SECTOR PARTICIPATION
dc.subjectPRIVATE SHAREHOLDERS
dc.subjectPRIVATIZATION
dc.subjectPRODUCTION COSTS
dc.subjectPRODUCTION OF FERTILIZERS
dc.subjectPRODUCTION RATES
dc.subjectPRODUCTION SHARING CONTRACTS
dc.subjectPROFIT MARGINS
dc.subjectPROVEN RESERVES
dc.subjectQUOTAS
dc.subjectREFINERIES
dc.subjectREFINERY
dc.subjectREFINING
dc.subjectREGRESSION ANALYSIS
dc.subjectRESERVOIR
dc.subjectRETURN ON INVESTMENT
dc.subjectROYALTY
dc.subjectSHALE OIL
dc.subjectSTATE CONTROL
dc.subjectSTATE INTERVENTION
dc.subjectSTATISTICAL ANALYSIS
dc.subjectSUBSIDIARY
dc.subjectSUPPLY OF CRUDE
dc.subjectSUSTAINABLE DEVELOPMENT
dc.subjectTAXATION
dc.subjectTIME VALUE OF MONEY
dc.subjectTRANSACTION COSTS
dc.subjectTRANSACTIONS COSTS
dc.subjectTRANSITION ECONOMIES
dc.subjectTRANSPORT
dc.subjectVALUE ADDED
dc.subjectWEALTH
dc.subjectWORLD TRADE ORGANIZATION
dc.subjectWTO
dc.titleNatural Oil Companies and Value Creationen
dspace.entity.typePublication
okr.crosscuttingsolutionareaJobs
okr.date.disclosure2011-07-25
okr.doctypePublications & Research::Publication
okr.doctypePublications & Research::Publication
okr.docurlhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333038_20111123234110
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeEnvironment and Natural Resources
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.globalpracticeEnergy and Extractives
okr.identifier.doi10.1596/978-0-8213-8831-0
okr.identifier.externaldocumentum000333038_20111123234110
okr.identifier.internaldocumentum15499576
okr.identifier.report63437
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2011/11/23/000333038_20111123234110/Rendered/PDF/634370REPLACEM0MATION09780821388310.pdfen
okr.relation.associatedurlhttps://openknowledge.worldbank.org/handle/10986/16652
okr.relation.associatedurlhttps://openknowledge.worldbank.org/handle/10986/16651
okr.topicFinance and Financial Sector Development::Banks & Banking Reform
okr.topicMacroeconomics and Economic Growth::Economic Theory & Research
okr.topicOil Refining and Gas Industry
okr.topicEnergy::Energy Production and Transportation
okr.topicEnvironment::Environmental Economics & Policies
okr.topicIndustry
okr.unitOil
okr.unitGas and Mining (SEGOM)
okr.volume1 of 1
relation.isAuthorOfPublicationf29828ae-9fb1-59f8-a8b1-9e9275acebd2
relation.isAuthorOfPublication.latestForDiscoveryf29828ae-9fb1-59f8-a8b1-9e9275acebd2
relation.isSeriesOfPublication3e126efc-de2f-4a95-be5b-bd2e430a4843
relation.isSeriesOfPublication.latestForDiscovery3e126efc-de2f-4a95-be5b-bd2e430a4843
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