One notes a paradigm shift in both the way traditional oil and gas companies carry out their business and their relations with the various governmental authorities with which they react.The geopolitical situation of the world largely occasioned by the first oil crisis in the seventies and the rise of National Oil Companies (NOCs) have contributed to change the dynamics of who does what and to what effect in the oil and gas business.The names of the once powerful companies that were the movers and shakers of politics in the Middle East and in the world generally have largely been replaced by those of countries that drill and market the commodity themselves or through their agents.The Shells, Chevrons, BPs, ExxonMobils and so on, have been replaced by the Saudi Aramco, Russia’s Gasprom, Brazil’s Petrobras, Nigeria’s National Petroleum Corporation and their other National counterparts.Even the influence of the cartel Organization of Petroleum Exporting Countries (OPEC) has waned. ...
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