Changes in the Operational Efficiency of National Oil Companies

Peter Hartley and Kenneth Medlock

The Energy Journal, 2013, vol. 34, issue 2, 27-58

Abstract: Using data on 61 oil companies from 2001-09, we examine the evolution of revenue efficiency of National Oil Companies (NOCs) and shareholder-owned oil companies (SOCs). We find that NOCs generally are less efficient than SOCs, but their efficiency increased faster over the last decade. We also find evidence that partial privatizations increase operational efficiency, and (weaker) evidence that mergers and acquisitions during the decade tended to increase the efficiency of the merging firms. Finally, we find evidence that much of the inefficiency of NOCs is consistent with the hypothesis that government ownership leads to different firm objectives. http://dx.doi.org/10.5547/01956574.34.2.2

Keywords: National Oil Company; Government ownership; Revenue efficiency; Data envelopment; Stochastic Frontier (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://journals.sagepub.com/doi/10.5547/01956574.34.2.2 (text/html)

Related works:
Journal Article: Changes in the Operational Efficiency of National Oil Companies (2013)
Working Paper: Changes in the Operational Efficiency of National Oil Companies (2012)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sae:enejou:v:34:y:2013:i:2:p:27-58

DOI: 10.5547/01956574.34.2.2

Access Statistics for this article

More articles in The Energy Journal
Bibliographic data for series maintained by SAGE Publications ().