National Oil Companies Challenged To Meet Economic Development Goals

摘要

How can oil-producing countries maximize the contribution of their oil industry to their economic development goals? This is a complex process of ensuring that the right institutions and incentives govern petroleum companies' operations in a sector where the rents are high and the global markets imperfect. Some insights can be gained by comparing four cases: Iran, Kuwait, Saudi Arabia and Yemen.High oil prices can hide a number of inefficiencies in the ability of the petroleum sector to maximize hydrocarbon extraction efficiency and the spillover benefits to domestic economies. Yet, governments of oil-producing countries always seek to eliminate these inefficiencies and increase the value they can extract from their hydrocarbon resources.