Contents
Acknowledgments iv
About the author iv
Executive summary v
Creating value in oil and gas v
The role of the national oil company in creating value v
Factors affecting the role of national oil companies vi
Measuring performance vi
Performance matrix vi
Conclusion vii
1 Why national oil companies count 1
2 Creating value in oil and gas 3
3 The role of national oil companies in creating value 5
The national mission 5
The indirect role of the NOC as advisor and regulator 9
4 Factors affecting the role of national oil companies 11
Exogenous factors 12
Endogenous factors 13
5 Measuring performance 16
Aggregate impressions of performance 16
Specific measures of performance 18
Comparing performance across companies 26
6 Performance matrix 29
7 Conclusions 38
References 39