Word: exxon
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Dates: during 2000-2009
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Medvedev now says publicly that Gazprom is also targeting the $12.8 billion Sakhalin I project, operated by an Exxon-led consortium. It fits perfectly with Russia's strategy to get more control of its energy assets. Exxon hasn't capitulated by any means, but it still might learn what Belarus and SE did: Gazprom always wins...
...From Mexico to China, more than 75% of the world's oil reserves are controlled by national oil companies today. Of the world's top 20 oil-producing firms, 14 are state-run. And even though Chavez has now stripped foreign oil companies like Exxon Mobil of any majority stakes they had in Venezuelan oil production projects - mandating that his state-run company, Petroleos de Venezuela (PDVSA), have at least 60% ownership from here on out - he's at least allowing those private multinationals to continue taking part in the drilling. Not so, for example, in Mexico or the world...
Countries that own natural resources want a bigger stake in profits. They won't just settle for a share now. They want to partake as a full partner all the way up the chain into the end use of their commodity. So for companies like Exxon, Conoco-Phillips, Shell, Chevron-Texaco, it's not the same game anymore...
...representative ETF of the world economy today, I would be holding a stake in PetroChina and Sinopec. I would also be invested in Warren Buffett’s Berkshire Hathaway, which holds a significant stake in PetroChina. I would own shares in McDonald’s, Exxon, and BASF, all of which have major business partnerships with Sinopec. Does this mean I am promoting genocide if I invest in these companies or in ETFs with these companies as components? Holding stock in these affiliate companies is arguably promoting the Sudanese government as much as is holding a stock index containing...
...towards national oil companies. Between 1970 and 2000, 40% of the increase in oil in the world came from the majors like Shell. [But] in the next 30 years, 90% of the new oil will come from the Middle East and Africa and will not be produced by Exxon and Shell, but by the nationally owned oil companies...