Oil Exploration and Production Between the 1980s and 1990s: Geological Advantage and International Petroleum Orders
This paper first explains the substantial weakening of the arrangements that have given national oil companies in the OPEC countries exclusive access to their oil reserves. Although those members of OPEC with large reserves - the Gulf countries and Venezuela - manage to preserve the old system, that is not the case for member countries which have difficulty in maintaining their production and proven reserves. The second part of the paper sets out the new international arrangements that have taken shape in the upstream portion of the world all industry. It highlights what is happening in the important all-producing developing countries, and the potential and the uncertainty involved in cooperative agreements with the former Soviet Union.
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