Role of leading oil TNCs in the world oil and gas sector in 2000s

Since the beginning of the 2000s., the global oil and gas sector saw significant changes. As a result of favorable conditions in the world arena appeared new leading oil TNCs not only from developed but also from developing countries, which began actively participate in the extraction and processing of oil and gas. Also, there have been changes in the strategies of leading TNCs related to the structure of oil and gas reserves. In the article the author analyzes the activity of leading oil TNCs in the oil and gas sector to identify what factors are especially stimulated the rapid growth of the oil companies, how changed the role of leading oil TNCs in the oil production and refining, and what factors influenced the strategy of these companies to change the structure of its oil and gas reserves.

Leading TNC, oil price, oil and gas reserves, extraction and processing of oil