State oil firms’ new global O&G challenges

Dateline 2018-07-09, The Malaysian Reserve:

For over a decade from the early 1990s, Petroliam Nasional Bhd (Petronas) was the champion of national oil companies (NOCs) challenging the established order in the global petroleum industry.

Then, it was relatively unheard of for state oil firms to venture outside their national borders to prospect for oil and gas (O&G), strictly the domain of international oil companies (IOCs).

Established players like Exxon Mobil Corp, Royal Dutch Shell plc and BP plc became the giants that they are today by making the highly risky business of finding and extracting O&G resources from the ground their specialty.

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