The Governance of International Oil: The Changing Rules of the Game
Most people still believe that the big international oil Companies dominate the governance of world oil. This is not surprising since these companies continue to be amongst the largest in the world and through most of the twentieth century their power has been unchallenged. Their eclipse inside the exporting countries by the national oil companies has been only partla1 since they have not lost their supremacy in the development and application of new technologies; and outside the exporting countries they have ceded none of their powers. In short, it is clear that the international oil companies are not preparing to retire fiom the stage they have dominated for so long.