Restructuring of the world oil market
Conference
·
OSTI ID:5237595
- Jensen Associates, Inc., Boston, MA (USA)
On November 10, 1988, Saudi Arabia agreed to acquire a 50 percent interest in Texaco's East and Gulf Coast refining and marketing network. In doing so it took a big step toward the country's new objective of full downstream integration. The joint venture, called Star Enterprise, is expected to be followed by others involving major players in world oil markets. For many, the Saudi deal represents further confirmation of the reintegration of the world oil industry begun a few years ago. They believe that as oil producing countries gain an equity interest in the downstream sector, the price of volatility of the 1980's will dissipate. Unfortunately, this consensus may be more wishful thinking than a reflection of how events will actually unfold. Although the shocks of the next ten years may be no worse than those of the last ten, certainly they will be different. These issues of the global oil market are addressed in this book.
- OSTI ID:
- 5237595
- Report Number(s):
- CONF-8903125--
- Country of Publication:
- United States
- Language:
- English
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