THE COMPARATIVE STUDY OF BUSINESS ENVIRONMENT OF INTERNATIONAL OIL COMPANIES AND NATIONAL OIL COMPANIES, AND PROPOSING SOME POLICY SOLUTIONS FOR ENHANCING THE COMPETITIVE ADVANTAGES OF THESE COMPANIES

Document Type : ISI

Authors

1 Assistant Professor, Business Development Department, Research Institute of Petroleum Industry

2 Assistant Professor, Management and Busines Engineering Department, School of Progress Engineering, Iran University of Science and Technology

3 Ph.D. Student in Technology Management, School of Progress Engineering, Iran University of Science and Technology

Abstract

Major trends of change in the business environment of the oil industry had an impressive influence over the business models of the International Oil Companies (IOCs) as well as the National Oil Companies (NOCs) as the new competitors in this field. These trends brought about a number of changes in the business models as well. The researcher, consequently, tried to analyze the major trends of change in the business environment of these two types of oil companies through an analytic-descriptive approach, and assessed the influence of the changes in business environment of oil companies on the business models of the IOCs and NOCs. Finally, a number of suggestions were proposed to enhance the business models of these companies. The results of the study revealed that five major changes took place in the business environment of the oil companies. These major trends which were generally in favor of the NOCs and largely been at the expense of the IOCs, brought about three major changes in the business models of IOCs as well as three major changes in the business models of the NOCs. Based on these changes, a few suggestions are presented to improve the competitive advantages of NOCs and IOCs.

Keywords

References

الف) فارسی
1. ابراهیمی، سید نصرالله؛ جواندل جانانلو، فرخ (1394). «مدیریت تفسلی ریسک در تنظیم قراردادهای بین المللی نفت». دوفصلنامۀ مطالعات حقوق انرژی، دورۀ 1، شمارۀ 1، ص 36-17.
2. امین‌زاده، الهام؛ نیک‌بخش شرفشاده، علی (1394). «مطالعة تطبیقی حق دولت‌ها بر مالکیت و حاکمیت منابع نفت و گاز». دوفصلنامۀ مطالعات حقوق انرژی، دورۀ 1، شمارۀ 1، ص 15-1.
3. غفاری، غلامرضا (1388). «منطق پژوهش تطبیقی». مجلۀ مطالعات اجتماعی ایران، دورۀ 3، شمارۀ 4، ص 92-76.
4. نوذری، حسینعلی (1387). فلسفۀ تاریخ روش‌شناسی و تاریخ‌نگاری. تهران، نشر طرح نو.
 
ب) خارجی
5. Al-Fattah, S. M (2013). “National Oil Companies: Business Models, Challenges, and Emerging Trends”. USAEE Working Paper, January 27, No. 13-138, pp. 3-3.
6. Badiru, A. B؛ Osisanya, S. O (2013). Project Management for the Oil and Gas Industry: A World System Approach. CRC Press.
7. Beyazay, B (2015). The Nature of the Firm in the Oil Industry: International Oil Companies in Global Business. Routledge.
8. Casadesus-Masanell, R؛ Ricart, J. E (2010). “From strategy to business models and onto tactics”. Long range planning, 43 (2), pp. 195-215.
9. Chapman, I (2014). “The end of Peak Oil? Why this topic is still relevant despite recent denials”. Energy Policy, 64, pp. 93-101.
10. Chazan, G (2011). “Big oil heads back home”. The Wall Street Journal, 5.
11. Coleman, J. W؛ Kasumu, A. S؛ Liendo, J., Li, V؛ Jordaan, S. M (2015). “Calibrating Liquefied Natural Gas Export Life Cycle Assessment: Accounting for Legal Boundaries and Post-Export Markets”. Canadian Institute of Resources Law, Occasional Paper, (49).
12. Crooks, E (2014). “Oil majors’ R&D into conventional and renewable energy at risk”. Financial Times, September 25, Online: http://www.ft.com/cms/s/0/c69618a0-4050-11e4-a343- 00144feabdc0, Last accessed 07/02/2019.
13. Davies, R. J؛ Almond, S؛ Ward, R. S؛ Jackson, R. B؛ Adams, C؛ Worrall, F؛ Whitehead, M. A (2014). “Oil and gas wells and their integrity: Implications for shale and unconventional resource exploitation”. Marine and Petroleum Geology, 56,  pp.239-254.
14. DuBois, D. P (2014). Pinedale Anticline and Jonah Fields, Sublette County, Wyoming: A Geologic Discussion and Comparison. Geoscience world.
15. Dylan R؛ Mair, F (2014). Key Questions for Upstream in 2014 and Beyond: Global Upstream Investment Outlook. IHS, N. Y.
16. Ermida, G (2014). “Strategic decisions of international oil companies: Arctic versus other regions”. Energy Strategy Reviews, 2(3), pp. 265-272.
17. Gabriel, S. A؛ Rosendahl, K. E؛ Egging, R؛ Avetisyan, H. G؛ Siddiqui, S (2012). “Cartelization in gas markets: Studying the potential for a “Gas OPEC”. Energy Economics, 34(1), pp. 137-152.
18. Gilbert, D؛ Scheck J (2014). “Big Oil Companies Struggle to Justify Soaring Project Costs”. The Wall Street Journal. January 28, Online: https://www.wsj.com/articles/big-oil-companies-struggle-to-justify-soaring-project-costs-1390964381, Last accessed 07/02/2019.
19. González, Á (2015). Global Oil and Gas Industry. SAGE publication, DOI: 10.1177/2374556814562573, http://businessresearcher.sagepub.com/sbr-1645-94773-2640955/20150302/global-oil-and-gas-industry, Last accessed 07/02/2019.
20. Hughes, J. D (2013). “Energy: A reality check on the shale revolution”. Nature, 494(7437), pp. 307-308.
21. Kolk, A؛ Levy, D (2001). “Winds of Change: Corporate Strategy, Climate change and Oil Multinationals”. European Management Journal, 19(5), pp. 501-509.
22. Leis, J؛ McCreery, J؛ Gay, J. C (2012). “National oil companies reshape the playing field”. Boston: Bain and Co., October, 10, online:
http://www.bain.com/Images/BAIN_BRIEF_National_oil_companies_reshape_the_playing_field.pdf, Last accessed 07/02/2019.
23. Lulic, L (2015, April). “The Past, Present and the Future of the Oil And Gas Industry: A Reality Check”. In International OFEL Conference on Governance, Management and Entrepreneurship (p. 543).
24. Luong, P. J؛ Sierra, J (2015). “The Domestic Political Conditions for International Economic Expansion Lessons From Latin American National Oil Companies”. Comparative Political Studies, 48(14), pp. 2010-2043.
25. Markwell, P؛ Pettit, J؛ Swanson, A؛ Thomas, J (2014). “The New Frontier for National Oil Companies”. IHS Inc., Available at SSRN 2380850, Last accessed 07/02/2019.
26. Menenberg, A. (2013). "Implications of Our Global Nationalized Oil Market”. EconoMonitor, nline:http://www.economonitor.com/policiesofscale/2013/08/29/implications-of-the-coming-global-nationalized-oil-sector, Last accessed 07/02/2019.
27. Merrill, T. W؛ Schizer, D. M (2013). “The shale oil and gas revolution, hydraulic fracturing, and water contamination: a regulatory strategy”. Columbia Law and Economics Working Paper, (440).
28. Mitchell, J؛ Marcel, V؛ Mitchell, B (2012). What next for the oil and gas industry?. Chatham House.
29. Neal, H؛ Bell, M. R. G؛ Hansen, C. A؛ Siegfried, R. W (2007). “Oil and gas technology development”. National Petroleum Council Topic Paper, 26. Online:
http://www.npc.org/Study_Topic_Papers/26-TTG-OGTechDevelopment.pdf, Last accessed 07/02/2019.
30. Ramberg, D. J؛ Chen, Y. H؛ Paltsev, S؛ Parsons, J. E (2015). “The Influence of Gas-to-Liquids and Natural Gas Production Technology Penetration on the Crude Oil-Natural Gas Price Relationship”. MIT Joint Program on the Science and Policy of Global Change.
31. Rogers, H (2011). “Shale gas—the unfolding story”. Oxford Review of Economic Policy, 27(1), pp. 117-143.
32. Small, M. J؛ Stern, P. C؛ Bomberg, E؛ Christopherson, S. M؛ Goldstein, B. D؛ Israel, A. L؛ North, D. W (2014). “Risks and risk governance in unconventional shale gas development”. Environmental science & technology, 48(15), pp. 8289- 8297.
33. Strategy+Business (2015). s+b “Trend Watch: R&D Investment Pays Off in Oil and Gas”. Issue 79, May 11, Online: http://www.strategy-business.com/article/15201?gko=6930c, Last accessed 07/02/2019.
34. Van der Linde, C (2012). “The state and the international oil market: competition and the changing ownership of crude oil assets”. Springer Science & Business Media, Vol. 23.
35. Yin, R. K (2013). Case study research: Design and methods. Sage publications.
36. Yoshikawa, T؛ Zhu, H؛ Wang, P (2014). “National governance system, corporate ownership, and roles of outside directors: A corporate governance bundle perspective”. Corporate Governance: An International Review, 22(3), pp. 252-265.
37. Zhang, Z (2012). “The overseas acquisitions and equity oil shares of Chinese national oil companies: A threat to the West but a boost to China's energy security?”. Energy Policy, 48, pp. 698-701.
38. Zott, C؛ Amit, R؛ Massa, L (2011). “The business model: recent developments and future research”. Journal of management, 37(4), pp. 1019-1042.
Journal Of Researches Energy Law Studies
Volume 6, Issue 1
Spring & Summer
April 2020
Pages 39-58

Files

Share

How to cite

Statistics