2008/08/05 by Steffen Hertog · 2 citations
Social Sciences · Economics, Econometrics and Finance · #Socioeconomic Development in MENA #Natural Resources and Economic Development #Middle East and Rwanda Conflicts
paper · doi:10.1080/00076790802246087
openalex publication_date 2008/08/05 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/29
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.