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

Hertog, Steffen (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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Abstract

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: http://www.informaworld.com/smpp/title~content=t71...
Additional Information: © 2008 Taylor & Francis Group
Library of Congress subject classification: H Social Sciences > HC Economic History and Conditions
Sets: Departments > Government
Collections > Economists Online
Research centres and groups > Middle East Centre
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 05 Nov 2010 14:37
URL: http://eprints.lse.ac.uk/29865/

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