NOC/IOC partnerships adapt to changing times

摘要

NOCs and IOCs have always shared a delicate co-existence due to mutual dependency. As the global dynamic fluctuates, a new form of cooperation might provide the way forward. The challenging relationship between national oil companies (NOCs) and international oil companies (IOCs) can rapidly evolve when the level of influence shifts dramatically between the parties. During much of me 1990s, IOCs held sway over their NOC counterparts through sustained investment in R&D and adherence to rigorous fiscal and operational management as well as their ability to make large, long-term investments. At that time, NOCs partnered readily with IOCs.