National oil company explained

A national oil company (NOC) is a petroleum company that is fully or partly owned by the government of a sovereign nation.^[1] NOCs produce about half the world’s oil and gas.^{[2] [3]}

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.

See also

• List of petroleum companies
• Nationalization of oil supplies
• State-owned enterprise

External links

• National Oil Company Database

Notes and References

1. Web site: Opportunity NOCs: How investors can jumpstart energy transitions in national oil companies . 2024-02-10 . The 2035 Initiative at UC Santa Barbara . en-US.
2. Web site: Cahill . Ben . Swanson . Kjersti . 2023-12-13 . National Oil Companies, Climate Commitments, and Methane . en.
3. Web site: Facing the Future: What National Oil Companies Say About the Energy Transition . 2024-02-10 . Natural Resource Governance Institute . en.