Foreign investments by state-owned enterprises (SOEs) in the oil and gas sector began a dramatic climb in the late 1990s amid rising oil prices. These investments are widely perceived to be politically driven, raising concerns about resource mercantilism and asymmetric interdependence. The book...

State or Market? -- Both or Neither? -- A Brief Historical Overview -- The First Wave: Colonial Oil Importers -- The Second Wave: Oil Exporters -- The Third Wave: Russia And China In The 21st Century -- Intentions And Design -- Capturing Economic Rent -- Oil Risk, Business Culture And Governance...

The decision by Saudi Arabia's Crown Prince Mohammed bin Salman to launch the country's ambitious and generational transformation program to wean the Kingdom away from oil under the Vision 2030 plan in 2016 was also an important milestone for Saudi Aramco. The Vision places an important role for...

National Oil Companies (NOCs) play an important role in the world economy. They produce most of the world's oil and bankroll governments across the globe. Although NOCs superficially resemble private-sector companies, they often behave in very different ways. Oil and Governance explains the...

A Brookings Institution Press and Chatham House publication Ninety percent of the world's oil reserves are entrusted to state-owned companies. Originally created as political instruments, these so-called national oil companies (NOCs) face new demands amid today's dwindling oil reserves and...