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Saudi Aramco 2030 pp 93–166Cite as

From NOCs to Privatized Oil Companies: A Comparative Country Experience

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Abstract

During the early 1990s, and as a part of a widespread drive for “freer” markets and reforms across the globe, a number of full and partial privatizations of government-owned enterprises, including national oil companies (NOCs), occurred. In the late 1970s and 1980s, government intervention in the economy came under attack, and the Keynesian basis for state economic intervention started to fall out of favor. Developing country economies failed to perform well in many cases, and this failure was attributed to inefficient, ineffective, and often corrupt government intervention (Dharwadkar et al. 2000). This trend seemed to have been triggered by a number of factors, including lower commodity prices, rising revenue needs among the governments engaging in restructuring programs, pressure from international capital markets, especially for countries that were indebted, and seemingly internal shifts in public preferences with regard to market organization and the roles of government (Wainberg and Foss 2007).

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    Mohamed A. Ramady

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Ramady, M.A. (2018). From NOCs to Privatized Oil Companies: A Comparative Country Experience. In: Saudi Aramco 2030. Springer, Cham. https://doi.org/10.1007/978-3-319-67750-7_4

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