Catching-up with supermajors: the technology factor in building the competitive power of national oil companies from developing economies. Issue 2 (7th February 2019)

• Record Type: Journal Article
• Authors: Bereznoy, Alexey
• Is Part Of: Industry and innovation. Volume 26:Issue 2(2019)
• Page Start: 127
• Page End: 157
• Publication Date: 2019-02-07
• Subjects: Catch-up development -- technology factor of competition -- national oil companies (NOCs) -- international oil companies (IOCs) -- supermajors; O32 -- O38 -- L1 -- L71 -- F23; Industries -- Periodicals; Industrial management -- Periodicals; Industrial policy -- Periodicals; 338.005
• DOI: 10.1080/13662716.2018.1467311
• Languages: English
• ISSNs: 1366-2716

Abstract

Abstract: The paper investigates the role of technology in the growing competitive potential of state-controlled national oil companies (NOCs) from developing countries. The technological development of NOCs is analyzed in the context of their increasing rivalry with supermajors, which have dominated the global oil and gas industry for decades. The author reveals the main features of NOCs' catch-up development amid the dynamic changes in the competitive landscape of the global oil industry. These trends were analyzed against the background of the current phase of the oil industry's technological evolution. The paper concludes that although rapid technological growth did become a key strategic priority of many NOCs, only very small group of them managed to achieve equal footing with traditional industry leaders. For the majority of the remaining NOCs, the existing limitations related to the policy of their home state did not allow them to narrow the technological gap with global supermajors.