A Comparative History of National Oil Companies

Oil is undoubtedly rather more than a mere hydrocarbon. It is a development factor, an essential element in energy balances, a strategic weapon, a resource characterized by unequal distribution, and also by unequal consumption. For more than a century now, it has showed its importance, whether during periods of crisis, or at times of strong growth. Under such circumstances, few countries have allowed mere market laws to operate freely. Whether visible or discreet, the hand of the State has been