National oil company

A national oil company (NOC) is an oil company fully or in the majority owned by a national government. According to the United States Energy Information Administration, NOCs accounted for 52% global oil production and controlled 88% of proven oil reserves in 2007.^[1]

Due to their increasing dominance over global reserves, the importance of NOCs relative to International Oil Companies (IOCs), such as ExxonMobil, BP, or Royal Dutch Shell, has risen dramatically in recent years. NOCs are also increasingly investing outside their national borders.

Major NOCs include:

• Abu Dhabi National Oil Company - Abu Dhabi
• China National Offshore Oil Company (CNOOC) - China
• China National Petroleum (PetroChina) - China
• China Petrochemical Corporation (Sinopec) - China
• Empresa Colombiana de Petróleos S.A. ("Ecopetrol") - Colombia
• Egyptian General Petroleum Corporation (EGPC) (Egypt)
• Emirates National Oil Company - Dubai
• ENI - Italy
• Gazprom Neft - Russia
• GEPetrol - Equatorial Guinea
• Iraq National Oil Company - Iraq
• KazMunayGas - Kazakhstan
• Kuwait Petroleum Corporation - Kuwait
• National Iranian Oil Company (NIOC) Iran
• National Oil Corporation of Kenya - Kenya
• National Oil Corporation - Libya
• Neste Oil - Finland
• Nigerian National Petroleum Company - Nigeria
• Pakistan State Oil - Pakistan
• Oil and Natural Gas Corporation - India
• Pertamina - Indonesia
• Petrobras - Brazil
• Empresa Estatal Petróleos del Ecuador (PetroEcuador) - Ecuador
• Petroleos de Venezuela (PDVSA) - Venezuela
• Petroleos Mexicanos (PEMEX) - Mexico
• Petroleum Development Oman - Oman
• Petron - Philippines
• Petronas - Malaysia
• Petróleos Paraguayos - Paraguay
• Petróleos del Perú (Petroperú) - Peru
• PKN Orlen - Poland
• Qatar Petroleum - Qatar
• Rosneft - Russia
• Saudi Arabian Oil Company (Aramco) Saudi Arabia
• Sinopec - China
• Sonangol - Angola
• Sonatrach - Algeria
• Statoil - Norway
• Turkmen Nebit Gaz Onumleri - Turkmenistan
• Uzbekneftegaz - Uzbekistan
• Vietnam National Oil and Gas Group (Petro Vietnam) - Vietnam

See also

• List of petroleum companies

External links

• National Oil Companies and Value Creation (World Bank study, 2010)

References

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