David G. Victor is a professor at the School of International Relations and Pacific Studies at the University of California, San Diego, where he also leads the Laboratory on International Law and Regulation. David R. Hults is a research affiliate at the Program on Energy and Sustainable Development (PESD) at Stanford University. Mark Thurber is Assistant Director for Research at the Program on Energy and Sustainable Development (PESD) at Stanford University.

• List of figures; List of tables; Part I. Introduction: 1. Introduction David Hults, Mark Thurber and David Victor; Part II. Thematic Studies of National Oil Companies: 2. The political economy of expropriation and privatization in the oil sector Christofer Warshaw; 3. Hybrid governance: state management of national oil companies David Hults; 4. On the choice of oil company: risk, management, and the frontier of the petroleum industry Pete Nolan and Mark Thurber; Part III. National Oil Company Case Studies: 5. Saudi Arabia - Saudi Aramco: a giant amongst giants Paul Stevens; 6. Iran - oil, monarchy, revolution, and theocracy: a study on the National Iranian Oil Company (NIOC) Paasha Mahdavi; 7. Mexico - handcuffed: an assessment of Pemex's performance and strategy Ognen Stojanovski; 8. Kuwait - Kuwait Petroleum Corporation: an enterprise in grid Paul Stevens; 9. China - China National Petroleum Corporation (CNPC): a balancing act between enterprise and government Binbin Jiang; 10. Venezuela - Petróleos de Venezuela, S.A.: from independence to subservience David Hults; 11. United Arab Emirates - awakening giant: strategy and performance of the Abu Dhabi National Oil Company David Victor and Varun Rai; 12. Brazil - Petrobras: strategy and performance Adilson de Oliveira; 13. Algeria - Sonatrach: the political economy of an Algerian state institution John Entelis; 14. Norway - Norway's evolving champion: Statoil and the politics of state enterprise Mark Thurber and Benedicte Tangen Istad; 15. Russia - Gazprom: the struggle for power Nadejda Victor and Inna Sayfer; 16. Nigeria - the Nigerian National Petroleum Corporation (NNPC) and Nigeria's network for oil patronage Mark Thurber, Ify Emelife and Patrick R. P. Heller; 17. India - fading star: explaining the evolution of India's Oil and Natural Gas Corporation Limited (ONGC) Varun Rai; 18. Malaysia - Petronas: reconciling tensions between company and state Leslie Lopez; 19. Angola - Sonangol: dexterous right hand of the state Patrick R. P. Heller; Part IV. Conclusions and Implications: 20. Major conclusions and implications for the future of the oil industry David Victor, Mark Thurber and David Hults; Part V. Appendices: I. Performance ranking; II. Depletion; Index.

'State-owned oil companies play a pivotal role in today's petroleum industry. Policymakers, industry leaders, and interested observers alike will gain highly relevant insights into these key players from this excellent volume.' Harald Norvik, CEO of Statoil, 1988–1999

David G. Victor is a professor at the School of International Relations and Pacific Studies at the University of California, San Diego, where he also leads the Laboratory on International Law and Regulation. David R. Hults is a research affiliate at the Program on Energy and Sustainable Development (PESD) at Stanford University. Mark Thurber is Assistant Director for Research at the Program on Energy and Sustainable Development (PESD) at Stanford University.

• List of figures; List of tables; Part I. Introduction: 1. Introduction David Hults, Mark Thurber and David Victor; Part II. Thematic Studies of National Oil Companies: 2. The political economy of expropriation and privatization in the oil sector Christofer Warshaw; 3. Hybrid governance: state management of national oil companies David Hults; 4. On the choice of oil company: risk, management, and the frontier of the petroleum industry Pete Nolan and Mark Thurber; Part III. National Oil Company Case Studies: 5. Saudi Arabia - Saudi Aramco: a giant amongst giants Paul Stevens; 6. Iran - oil, monarchy, revolution, and theocracy: a study on the National Iranian Oil Company (NIOC) Paasha Mahdavi; 7. Mexico - handcuffed: an assessment of Pemex's performance and strategy Ognen Stojanovski; 8. Kuwait - Kuwait Petroleum Corporation: an enterprise in grid Paul Stevens; 9. China - China National Petroleum Corporation (CNPC): a balancing act between enterprise and government Binbin Jiang; 10. Venezuela - Petróleos de Venezuela, S.A.: from independence to subservience David Hults; 11. United Arab Emirates - awakening giant: strategy and performance of the Abu Dhabi National Oil Company David Victor and Varun Rai; 12. Brazil - Petrobras: strategy and performance Adilson de Oliveira; 13. Algeria - Sonatrach: the political economy of an Algerian state institution John Entelis; 14. Norway - Norway's evolving champion: Statoil and the politics of state enterprise Mark Thurber and Benedicte Tangen Istad; 15. Russia - Gazprom: the struggle for power Nadejda Victor and Inna Sayfer; 16. Nigeria - the Nigerian National Petroleum Corporation (NNPC) and Nigeria's network for oil patronage Mark Thurber, Ify Emelife and Patrick R. P. Heller; 17. India - fading star: explaining the evolution of India's Oil and Natural Gas Corporation Limited (ONGC) Varun Rai; 18. Malaysia - Petronas: reconciling tensions between company and state Leslie Lopez; 19. Angola - Sonangol: dexterous right hand of the state Patrick R. P. Heller; Part IV. Conclusions and Implications: 20. Major conclusions and implications for the future of the oil industry David Victor, Mark Thurber and David Hults; Part V. Appendices: I. Performance ranking; II. Depletion; Index.

'State-owned oil companies play a pivotal role in today's petroleum industry. Policymakers, industry leaders, and interested observers alike will gain highly relevant insights into these key players from this excellent volume.' Harald Norvik, CEO of Statoil, 1988–1999

David G. Victor is a professor at the School of International Relations and Pacific Studies at the University of California, San Diego, where he also leads the Laboratory on International Law and Regulation. David R. Hults is a research affiliate at the Program on Energy and Sustainable Development (PESD) at Stanford University. Mark Thurber is Assistant Director for Research at the Program on Energy and Sustainable Development (PESD) at Stanford University.

• List of figures; List of tables; Part I. Introduction: 1. Introduction David Hults, Mark Thurber and David Victor; Part II. Thematic Studies of National Oil Companies: 2. The political economy of expropriation and privatization in the oil sector Christofer Warshaw; 3. Hybrid governance: state management of national oil companies David Hults; 4. On the choice of oil company: risk, management, and the frontier of the petroleum industry Pete Nolan and Mark Thurber; Part III. National Oil Company Case Studies: 5. Saudi Arabia - Saudi Aramco: a giant amongst giants Paul Stevens; 6. Iran - oil, monarchy, revolution, and theocracy: a study on the National Iranian Oil Company (NIOC) Paasha Mahdavi; 7. Mexico - handcuffed: an assessment of Pemex's performance and strategy Ognen Stojanovski; 8. Kuwait - Kuwait Petroleum Corporation: an enterprise in grid Paul Stevens; 9. China - China National Petroleum Corporation (CNPC): a balancing act between enterprise and government Binbin Jiang; 10. Venezuela - Petróleos de Venezuela, S.A.: from independence to subservience David Hults; 11. United Arab Emirates - awakening giant: strategy and performance of the Abu Dhabi National Oil Company David Victor and Varun Rai; 12. Brazil - Petrobras: strategy and performance Adilson de Oliveira; 13. Algeria - Sonatrach: the political economy of an Algerian state institution John Entelis; 14. Norway - Norway's evolving champion: Statoil and the politics of state enterprise Mark Thurber and Benedicte Tangen Istad; 15. Russia - Gazprom: the struggle for power Nadejda Victor and Inna Sayfer; 16. Nigeria - the Nigerian National Petroleum Corporation (NNPC) and Nigeria's network for oil patronage Mark Thurber, Ify Emelife and Patrick R. P. Heller; 17. India - fading star: explaining the evolution of India's Oil and Natural Gas Corporation Limited (ONGC) Varun Rai; 18. Malaysia - Petronas: reconciling tensions between company and state Leslie Lopez; 19. Angola - Sonangol: dexterous right hand of the state Patrick R. P. Heller; Part IV. Conclusions and Implications: 20. Major conclusions and implications for the future of the oil industry David Victor, Mark Thurber and David Hults; Part V. Appendices: I. Performance ranking; II. Depletion; Index.

'State-owned oil companies play a pivotal role in today's petroleum industry. Policymakers, industry leaders, and interested observers alike will gain highly relevant insights into these key players from this excellent volume.' Harald Norvik, CEO of Statoil, 1988–1999