Posted on 11/26/2009 9:25:58 AM PST by staffjam
A detailed look at the largest Oil Companies, how they operate and who the major players in the field are. The Oil Companies take a lot of Flak, but are they as bad as you think? Companies like ExxonMobil, Chevron, BP and Royal Dutch Shell now produce only 10% of the world's oil and gas and hold a mere 3% of its reserves. Big Oil’s primary “Movers & Shakers” according to “The Financial Times,” are: Aramco of Saudi Arabia, CNPC of China, Gazprom of Russia, NIOC of Iran, PDVSA of Venezuela, , Petrobras of Brazil, as well as Petronas of Malaysia.
So what happened – how did the once powerful titans of the Oil Industry lose their place to the new “seven Sisters.”
The full article is at Oilprice.com: Oil Companies
Only American companies are bad. Foreign companies can do what ever they want, fund any crime, do any evil deed.
Only Americans are evil in the eyes of the world.
US oil companies have laid off 10’s of thousands of employees since Hussein Obama took office, even while he is giving 2 BILLION $ of taxpayer money to Brazil to drill off of THEIR coast!
US oil companies are mostly contractors to the really big oil companies, which are the national oil companies around the world. Very little oil is in private hands. Even in the US, most new oil is in government hands. Outside the US, there is no such thing as private oil.
You should also notice that the “environmentalists” only go after private oil, of which there is very little in the world. They never go after OPEC projects. They never go after Gazprom or Chinese Oil Company projects. If private oil is 3% of the oil, why aren’t they interested in the 97%?
US oil companies are mostly contractors to the really big oil companies, which are the national oil companies around the world.
Please explain in a little more detail please since there are thousands of independent producers such as us in 39 oil-producing states. We have absolutely no connections to the larger producers.
I’m referring to the larger oil companies that are working internationally. When they are working a concession in Country X, they are working essentially as contractors to that country’s oil ministry, who retains ownership of the oil. The private oil company will have a 20 year concession, paid for up front, which gives them the privilege of putting up the investment capital, and then pay an agreed upon rate per barrel produced, and at the end of the concession the property with all improvements returns to the real owner, the national oil company who can then either work it themselves, or put it up for bid again, or negotiate another contract with the company that has been working it.
You likely know a lot more than I do about the legalities of being an independent producer inside the US. My impression is that while a lot of the oil under production is private here in the US, much of the new oil is under government land or off the coast which means again, the oil company has a concession, a contract in essence, at the end of which the property returns to the real owner which is the government (BLM or whatever).
I work in this business, including overseas, but not in that end of things so you’ll no doubt be able to correct me or fill in the blanks.
Thanks
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