| Description: | In the private oil industry, the major, international companies have a key position. Although their share in the production of oil has declined in recent decades (by nationalizations in the 70s and the rise of OPEC and non-OPEC countries such as Norway, Russia and Mexico), they still play a leading role. The oil companies are rich, have the latest technology, have global sales and have easy access to the world markets. The activities of international operating oil companies include (1) exploration and production of oil and gas, (2) oil refining and marketing / trade of oil products, (3) marketing and sales of gas, (4) (petro) chemical and at some companies (5) electricity.
The exploration and production activities are the most profitable. The annual growth for oilproducts worldwide is approximately 1.0% to 1.5% and for gas 2.5% to 3%. The profitability of oil companies is largely determined by the price of crude oil and gas. The (oil) service centers provide various services to the oil companies, including drilling, borehole measurements and seismic research. The results of these companies are heavily dependent on the investment levels of the oil companies. |
