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The National Oil Company Investment Challenge

El informe se basa en entrevistas, realizadas a principios de 2009, con ejecutivos de alto nivel de las National Oil Companies sobre cómo ven el futuro de la industria y cómo sobrevivir a la crisis económica actual.

Twelve months ago our research suggested that governments, through NOCs, were in the ascendency and gaining greater control over oil markets and reserves. The picture today is different.

  • IOCs, with the ability to use capital markets, have an opportunity to gain access to projects and reserves which they may not have had a year ago.
  • NOCs with financing capability or access to state funding, in particular the Chinese NOCs, have the opportunity to secure a greater proportion of their supply.
  • NOCs, like IOCs, are focused on driving down their cost base.


  • Foreword
  • Executive summary Why NOCs want an oil price in excess of US$80/b
  • Section 1 How NOC business plans will be impacted by different oil prices
  • Section 2 Comparing operating costs
  • Section 3 Degrees of financial autonomy
  • Conclusion
  • Methodology
  • Background
  • Other KPMG thought leadership

Provided: KPMG

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