Reforming National Iranian Oil Company (NIOC)
Article from: OGEL 6 (2011), in Middle East, Buy Back Contracts
Abstract
National Oil Companies have gained increased prominence in global oil industry. However, alleged malpractices surrounding NOCs' operations served as main rationale to pursue structural reforms to improve performance and curb these inefficiencies. The NOCs are involved in non-commercial activities; they operate largely as instruments of their governments and in most cases they have a monopoly in their countries. The National Iranian Oil Company (NIOC) was established in order to gain sovereignty over Iran's natural resources. Initially, the NIOC was viewed as being able to best ...