New oil era: state-backed European companies challenge majors
The European oil industry is challenging, with government support, the established multinational companies and the Organization of Petroleum Exporting Countries (OPEC) in a way that is changing the market and giving some control to import-dependent Europe. Although these changes and the effects of North Sea oil have given the European companies an opportunity to diversify the import base and affect policy, all results have not been beneficial to some companies. OPEC members have turned to direct sales, which helps small companies at the expense of the multinationals, but which also softens the market. Political problems also accompany government involvement in challenging the three classic European companies - Shell, British Petroleum, and Compagnie Francaise des Petroles. (DCK)
- OSTI ID:
- 6591706
- Journal Information:
- EUROPE; (United States), Journal Name: EUROPE; (United States) Vol. 223; ISSN ERPED
- Country of Publication:
- United States
- Language:
- English
Similar Records
Natural gas in West European energy supplies
European oil companies stuggle to meet the challenge of an uncertain future - Part II