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Petromin: the slow death of statist oil development in Saudi Arabia

Hertog, Steffen ORCID: 0000-0002-6758-9564 (2008) Petromin: the slow death of statist oil development in Saudi Arabia. Business History, 50 (5). pp. 645-667. ISSN 0007-6791

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Identification Number: 10.1080/00076790802246087


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.

Item Type: Article
Official URL:
Additional Information: © 2008 Taylor & Francis Group
Divisions: Government
Middle East Centre
Subjects: H Social Sciences > HC Economic History and Conditions
Date Deposited: 05 Nov 2010 14:37
Last Modified: 21 Apr 2024 23:33

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