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Strategies of Oil and Gas Corporations. A Review of the Literature


  • Attila Hugyecz


In our paper we seek to answer the question of what the publicly available literature says about the upstream and downstream strategies of oil and gas corporations in the first decade of the 21st century. We would like to know what energy source or technology do national and international oil companies focus on in producing hydrocarbons or replacing their hydrocarbon reserves (conventional vs. non-conventional oil or gas, renewables, gas-to-liquid, coal-to-liquid, biofuels, deepwater drilling etc.). Our further question is how the geographic location of upstream and downstream assets changed between 2000 and 2010. In addition, we would like to know how international oil companies (IOCs) and national oil companies (NOCs) cooperate. We found that there is quite an extensive literature on the cooperation of NOCs and IOCs, mostly focusing on future expectations and assuming that the groups of IOCs and NOCs are homogeneous. Further, although the questions raised are of crucial importance for oil companies, there is a lack of publicly available research on how individual firms compete, how and whether their focus on different energy sources changed (e.g. from oil to gas), what upstream technology they develop and how they locate their upstream and downstream assets.

Suggested Citation

  • Attila Hugyecz, 2011. "Strategies of Oil and Gas Corporations. A Review of the Literature," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 116-133.
  • Handle: RePEc:bas:econst:y:2011:i:2:p:116-133

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    References listed on IDEAS

    1. repec:wsi:wschap:9789813108448_0015 is not listed on IDEAS
    2. Ledyaeva, Svetlana, 2007. "Spatial econometric analysis of determinants and strategies of FDI in Russian regions in pre- and post-1998 financial crisis periods," BOFIT Discussion Papers 15/2007, Bank of Finland, Institute for Economies in Transition.
    3. Kotov, Denis, 2009. "How Decisions on Investing in Russia are made by German Firms?," MPRA Paper 16373, University Library of Munich, Germany.
    4. David Tarr & Natalya Volchkova, 2017. "Russian Trade and Foreign Direct Investment Policy at the Crossroads," World Scientific Book Chapters,in: Trade Policies for Development and Transition, chapter 15, pages 337-360 World Scientific Publishing Co. Pte. Ltd..
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    JEL classification:

    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy


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