the IOCs in the oil industry - Essay Example

Only on StudentShare

Extract of sample
the IOCs in the oil industry

Most of the International Oil Companies have been started as national corporations operating only on the domestic market. In general, the history of the IOCs goes back to 1850s when domestic oil industry development was marked by significant growth (Mohr, 1976), and many companies like Marathon Oil began to penetrate into other markets given a start to International Oil Corporations (Marathon Oil corporation History, 2005).
The international expansion of International Oil Companies began at the beginning of the XX century when substantial oil fields were discovered in Asia. For instance, explorations of oil in India had been started in 1875, and after that time some International Oil companies sterted their activity in the Assam region. According to the historical data production of oil was about 0.30 million tones at the end of the XIX century.
The main problem of national oil industry of many less developed countries was that the oil fields discovered by the public sector were literally gifted to the private sector without recovering the direct costs, let alone the sunk costs, written off over the years, for futile exploration activities in other parts of the coun ...
Download paper

Summary

International Oil industry is the main and one of the most important industries in the world. The history of its development goes back to the previous century when the first International Corporation emerged. The history of development of various corporations, as a rule, testifies, that the level of profit is a result of successful political strategy provided by the counties…
Author : rchamplin

Related Essays

Oil Exploration and Extraction
The industrial revolution in turn has provided increased affluence and productivity to large masses around the world. However there is an increased realization that the energy systems of the world have to undergo a radical change if the sustainability of the supply of energy is to be maintained on a long-term basis. Concerns of people that energy supplies will be exhausted in the near futures though can be considered as an exaggeration, there is truth in the point that the fossil fuel reserves are ultimately finite and will deplete completely one day. This fact has necessitated the finding out...
12 pages (3012 words) Essay
Technology and design industry
At the same time graphic design becomes more dependent on technology. The US survey of the national graphic design industry has shown that the consumption of the professional equipment continues to grow: "Industry-wide equipment purchasing by design firms and freelancers is expected to grow from $211 million in 2004 to $250 million in 2009" (Naselli and Webb 2004). The good thing is that this indicates the market continues its growth. Not only the technology changes inner processes in every design firm; it changes the portrait of the industry itself.
...
6 pages (1506 words) Essay
Aircraft Industry
(Crocker, 2005:11). The Airbus Company was established in 1970 and has their headquarters located in Toulouse, France. After a resent restructuring, the company is known as AIC of which the European Aeronautics and Space Company EADS owns 80% and British Aerospace and Electrical System BEA owns the remaining 20%. The new EADS comprises; France's Aero spatial, German Daimler Chrysler Aerospace AG and the Spanish Government-owned CASA. During 1988 Airbus has the share of 16 per cent of the market, which rapidly increased to 37 per cent in 1996 (Dempsey & Gesell, 85). But however, Airbus has...
12 pages (3012 words) Essay
Hospitality Industry and ITC
The IT has brought the development to the hospitality industry.
...
6 pages (1506 words) Essay
Telecom Industry
y) in between. (Sven. Wunder, 2003)
...
12 pages (3012 words) Essay
Got a tricky question? Receive an answer from students like you! Try us!