Aramco Can Learn From Oil's School of Hard NOCs - Bloomberg Gadfly:
"If you've ever wondered what national oil companies are for, one of the bigger ones offers this pithy take on the cover of its annual report:
This isn't strange; national oil companies, or NOCs in industry parlance, are often their country's biggest corporate entity, employer and source of public revenue. The question is what they offer international investors, especially as we await the IPO of the biggest NOC of all, Saudi Arabian Oil Co., or Saudi Aramco.The proliferation of listed NOCs is mostly a post-2000 phenomenon. These include Russia's Rosneft Oil Co. PJSC; China's PetroChina Co. Ltd., China Petroleum & Chemical Corp., and CNOOC Ltd.; Petroleo Brasileiro SA of Brazil; and Norway's Statoil ASA. The timing, amid a boom in oil prices and emerging markets, was no accident:"
'via Blog this'
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