Changes in the Operational Efficiency of National Oil Companies

@article{Hartley2011ChangesIT,
  title={Changes in the Operational Efficiency of National Oil Companies},
  author={Peter R. Hartley and Kenneth B. Medlock},
  journal={The Energy Journal},
  year={2011},
  volume={34},
  pages={27-57}
}
Using data on 61 oil companies from 2001-09, we examine the evolution of revenue efficiency of National Oil Companies (NOCs) and shareholder-owned oil companies (SOCs). We find that NOCs generally are less efficient than SOCs, but their efficiency increased faster over the last decade. We also find evidence that partial privatizations increase operational efficiency, and (weaker) evidence that mergers and acquisitions during the decade tended to increase the efficiency of the merging firms… 

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