The Nature of the Firm in the Oil Industry: International Oil Companies in Global Business

Global Value Chain & Changes in the Nature of the FirmTHE NATURE OF THE FIRMCHANGES IN THE NATURE OF THE FIRMVertical DisintegrationOutsourcingCoordination by the Core Firm: The System IntegratorValue Chain Management by the Core FirmNOTEREFERENCESPetroleum Value Chain & Its TransformationPETROLEUM INDUSTRY VALUE CHAINCompanies on the Petroleum Value ChainParticular Characteristics of the Petroleum Value ChainOnshore/OffshoreAdvanced TechnologyDifferentiating Elements of the Petroleum Value ChainTRANSFORMATION IN THE PETROLEUM VALUE CHAINIncreased OutsourcingVertical Disintegration over TimeNOTESREFERENCESImpact of the Changes on the IOC-OSC RelationshipRELATIONSHIP BETWEEN INTERNATIONAL OIL COMPANIES AND OIL SERVICES COMPANIESDynamics of the Industry: NOCs vs. IOCs vs. OSCsBusiness Models of IOCs & OSCsRevenue Generation StructureBusiness Expertise and Risk TakingAreas of R&D and R&D ExpenseUse of TechnologyFundamentals of the Relationship between IOCs and OSCsStructures of Collaboration between IOCs and OSCsDay-to-Day WorkRelationship within the Context of Joint R&D and Development of TechnologyClose Cooperation vs. Arm’s Length Price RelationshipProcurement within International Oil CompaniesRelationship under the Shadow of NOCsRelationship within the Context of Joint VenturesIMPLICATIONS OF THE RELATIONSHIPFinancial SignificanceTechnical ChallengesCompetition versus CooperationIMPLICATIONS OF THE CHANGES FOR THE VALUE CHAINStrategic ImplicationsOperational & Managerial Implications: Example of the BP AccidentNOTESREFERENCESCase Studies: IOC & OSC Relationship in Selected SectorsOFFSHORE DRILLING SERVICES‘Drilling is thrilling.’Market Structure and Main ActorsRelationship with International Oil CompaniesSEISMIC EXPLORATION SERVICES‘Exploration begins with seismic.’Market Structure and Main ActorsRelationship with International Oil CompaniesWELL SERVICES‘Each oil well has its own personalityMarket Structure and Main ActorsRelationship with International Oil CompaniesNOTESREFERENCES
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