The emergence of the 'international' national oil company

On the global stage, it is evident that many national oil companies (NOCs) are gaining increasing traction, proving themselves to be strong partners, not only at home but also internationally. They are now able to compete head-to-head with international oil companies (lOCs). The rise of what many are calling the 'international' NOC is evidently having a substantial impact on the dynamics of today's oil industry. This was a topic of much conversation at the recent World National Oil Companies Congress in London. The OPEC Bulletin's James Griffin, who was in attendance, reports on this development, as well as some of the other key issues discussed, including technology and innovation, and transparency and trust. Adapted from the source document.