The desire of host governments for equity participation with the concessionaire companies in the oil producing ventures goes back a long way before the foundation of OPEC. But this was a demand that the major oil companies always resisted with all the power and guile at their command, sensing no doubt that such a development would strike at the very roots of their control over the supply arteries of the world oil industry. In the end, it required a collective impetus on the part of OPEC to unblock the path towards participation and the takeover by the host governments of control over crude oil production operations.
KeywordsSaudi Arabia Equity Holder Producer Government Host Government Price Talk
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- 9.J.E. Hartshorn: From Multinational to National Oil — The Structural Change, paper published in MEES, April 28, 1980.Google Scholar