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Petromin: the slow death of statist oil development in Saudi Arabia

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The paper recounts the history of Saudi Arabia's first national oil company, Petromin, which was originally supposed to take the place of foreign-owned Aramco. As a result of Petromin's inefficiency and personal rivalries among the Saudi elite, however, Petromin was progressively relegated to the sidelines in favour of a gradually 'Saudiised' Aramco. As a result, the organisation of the Saudi oil sector today is very different from - and more efficient than - that of most other oil exporters in the developing world. The paper concludes with a tentative taxonomy of national oil companies, based on the circumstances of nationalisation.

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en

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application/pdf

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http://eprints.lse.ac.uk/29865/1/Petromin_the_Slow_Death_of_Statist_Oil_Development_in_Saudi_Arabia_%28LSERO%29.pdf

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