By focusing on energy security issues this paper examines the changes in the global energy industry competition mechanisms. Gaining sovereignty over energy resources by developing countries and the revision of the access regime to oil and gas resources for the international oil companies (IOCs) resulted in changing the balance of power in the industry. In recent years IOCs have faced increasing problems in reserves’ replacement and maintenance of production levels, declining of upstream assets quality and returns on capital employed. National oil companies (NOCs) from rapidly developing countries on the contrary gain their weight and strengthen their global position. The shift in energy demand towards China and India in the early decades of XXIst century induced the quest for energy security in these countries. Author’s findings confirm that growing NOCs turn into the new centers of power and evade following the existing models and rules. Gradually they generate their own approaches to gaining access to overseas resources and ensure energy security of their countries. The paper highlights the latest changes in competition models and identifies key shifts in patterns of interaction on global energy market. Considering the increased technological competition in oil and gas industry the author assumes fundamental changes in competition mechanisms in the coming decades. Indeed, the analysis reveals that among NOCs there is the tendency of enhancing R&D capabilities, in order to gain competitive advantage and be able to secure upstream contracts overseas. The point is emphasized that competition for access to energy resources will lead to the struggle for technological superiority, thereby forming the new contours of competition in the global energy industry.
1. Browne J. Beyond Business. London, Weidenfeld and Nicolson, 2010. 310 p. [Russ. ed.: Browne J. Bol’she chem biznes. Moscow, United Press, 2011. 355 p.]
2. Noreng O. Crude Power: Politics and the Oil Market. London, I. B. Tauris, 2002. 254 p.
3. Yergin D. The Prize: The Epic Quest for Oil, Money, and Power. New York, Simon and Schuster, 1991. 912 p. [Russ. ed.: Yergin D. Dobycha: Vsemirnaya istoriya bor’by za neft’, den’gi i vlast’. Moscow, DeNovo, 1999. 932 p.]
4. Yergin D. The Quest: Energy, Security, and the Remaking of the Modern World. New York, Penguin Books, 2012. 832 p.
5. Supermajordammerung. The Day of the Huge International Oil Company Is Drawing to a Close. The Economist, 2013, August 3, pp. 20-22.
6. Weijermarsa R., Clintc O., Pylec I. Competing and Partnering for Resources and Profits: Strategic Shifts of Oil Majors during the Past Quarter of a Century. Energy Strategy Reviews, 2014, vol. 3, pp. 72-87. DOI:10.1016/j.esr.2014.05.001
7. Kondrat’ev V. Rol’ natsional’nykh neftyanykh kompanii v sovremennoi ekonomike [The Role of National Oil Companies in Modern Economy]. Problemy teorii i praktiki upravleniya, 2014, no. 10, pp. 18-26.
8. Victor D.G., Hults D. R., Thurber M. C. Oil and Governance: State-Owned Enterprises and the World Energy Supply. New York, Cambridge University Press, 2012. 1036 p.
9. Wolf C. Does Ownership Matter? The Performance and Efficiency of State Oil vs. Private Oil (1987–2006). Energy Policy, 2009, vol. 37, no. 7, pp. 2642-2652. DOI:10.1016/j.enpol.2009.02.041
10. Eller S.L., Hartley P.R., Medlock K.B. Empirical Evidence on the Operational Efficiency of National Oil Companies. Empirical Economics, 2011, vol. 40, no. 3, pp. 623-643. DOI:10.1007/s00181-010-0349-8
11. Ma X., Andrew-Speed P. The Overseas Activities of China’s National Oil Companies: Rationale and Outlook. Minerals and Energy, 2006, vol. 21, no.1, pp. 17-30. DOI:10.1080/14041040500504343
12. Zhang Z. X. The Overseas Acquisitions and Equity Oil Shares of Chinese National Oil Companies: A Threat to the West but a Boost to China’s Energy Security? Energy Policy, 2012, vol. 48, pp. 698-701. DOI:10.1016/j.enpol.2012.05.077
13. Nicolazzi M. Il Prezzo Del Petrolio. Milano, Boroli Editore, 2009. 238 p. [Russ. ed.: Nicolazzi M. Tsena nefti. Moscow, Mezhdunarodnye otnosheniya, 2012. 312 p.]
14. Wolfe W.M., Tessman B. F. China’s Global Equity Oil Investments: Economic and Geopolitical Influences. Journal of Strategic Studies, 2012, vol. 35, no. 2, pp. 175-196. DOI:10.1080/01402390.2011.635467
15. Deich T. L. Afrika v strategii Kitaya [China’s African Policy]. Moscow, Institute for African Studies of the RAS, 2008. 326 p.
16. Hess S., Aidoo R. Beyond the Rhetoric Non-interference in China’s African Policy. African and Asian Studies, 2010, vol. 9, no. 3, pp. 356-383. DOI:10.1163/156921010X516003
17. Jiang J., Sinton J. Overseas Investments by Chinese National Oil Companies: Addressing the Drivers and Impacts. Paris, International Energy Agency, 2011. 52 p.
18. Jiang J., Ding C. Update on Overseas Investments by China’s National Oil Companies: Achievements and Challenges since 2011. Paris, International Energy Agency, 2014. 49 p.
19. The Rise of the Hybrid Company. The Economist, 2009, December 5, p. 78.
20. Zhiltsov S.S. Truboprovodnaya igra v Kaspiiskom regione [Pipeline Game in The Caspian Region]. Problemy postsovetskogo prostranstva, 2015, no. 1 (3), pp. 96-116.
21. Mendonca R.W., Oliveira L.G. Local Content Policy in the Brazilian Oil and Gas Sectoral System of Innovation. Latin American Business Review, 2013, vol. 14, no. 3-4, pp. 271-287. DOI:10.1080/10978526.2013.833477
22. Silkin V.Yu. Innovatsionnaya politika v neftegazovoi otrasli: problemy dogonyayushchego razvitiya [Russian Oil and Gas Industry Innovation Policy: Problems of Overtaking Development]. Energeticheskaya politika, 2014, no. 6, pp. 46-54.
23. Dynkin A.A., Ivanova N.I., eds. Innovatsionnye protsessy v energeticheskom komplekse: zarubezhnyi opyt i rossiiskie problemy [Innovation in energy technology: foreign experience and Russian problems] Moscow, Institute of World Economy and International Relations of RAS, 2007. 103 p.
24. Thuriaux-Aleman B., Salisbury S., Dutto P. R&D Investment Trends and the Rise of NOCs. Journal of Petroleum Technology, 2015, vol. 62, no. 10, pp. 30-32. DOI:10.2118/1010-0030-JPT
Registered in system SCIENCE INDEX