The Internationalization of National Oil Companies in Developing Producer Countries
National oil companies in developing producer countries, following the example of the "majors"and the large American or European independents, appear to be tempted by the possibility of internationalizing their activities. But,as with their counterparts in developed countries, not all state-owned oil companies in these countries are in a position to launch themselves on such an adventurous course of action. The trend towards internationalization, largely started in the early 1980sbyKPC(Kuwait) and PDVSA (Venezuela), concerns principally, though not exclusively, downstream activities. This can be explained by the fact that these companies already occupy a favourable position upstream and by the existence of a buyer's market in crude oil since 1981.
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