The global financial crisis and the resulting difficulty in raising finances may force national oil companies to become more transparent in their operations.
Analysts at the World national oil companies congress' said oil firms, particularly those of consumer countries and emerging oil producers such as Petrobras of Brazil, raise finances through new business partnerships and issue of bonds.
Gulf majors such as Saudi Aramco, Adnoc and Kuwait National Petroleum Company (KNPC) will, however, remain immune to these changes, considering the low costs involved in extracting crude and strong financial positions. However, even they will be forced to diversify their sources of funding during the prevailing turbulent times, an analyst said.
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