for International oil companies
High-ranking officials of two major IOCs will go on trial in Milan for bribing Nigerian officials to secure lucrative contracts, marking the third major corruption scandal that has touched large oil companies in recent years.
The oil industry opposed the disclosure requirements, arguing that the rules are onerous and costly while putting American companies at a disadvantage in the international market.
Even though Indonesia returned to the OPEC cartel for just one year, the country was able to strategically make its membership work to its advantage by securing large investments in its upstream resources after struggling to do so for some time.
KPMG: Even as national and international oil companies continue to call the shots, oilfield service companies have emerged as the "unsung workhorse" of the oil industry.
Although Iran has diligently reformed its petroleum contract to attract IOCs, the OPEC country is still dealing with a volatile political and economic environment that could delay and possibly undermine new and longer-term investment.
Much of the energy discussion surrounding the lifting of Iranian sanctions has focused on the effects on oil prices, but Iran’s gas potential could shake up global gas markets and provide robust economic benefits for the country.