Article
Catching-up with supermajors: the technology factor in building the competitive power of national oil companies from developing economies
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.