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  • The National Oil Company Strategies Service (NOCS) combines the government, policy, regulatory, finance and country risk expertise of PFC Energy's Country Strategies Group with the competitor landscape, asset analysis, benchmarking and strategic insights of PFC Energy's Upstream and Gas Group, to provide clients with a unique, comprehensive and insightful look at this emerging force within the global energy sector.
     
    The service focuses on those national oil companies (NOCs) that are expanding their involvement in the international upstream sector, positioning as competitors to the international oil companies (IOCs); and those NOCs/countries that represent current and potential upstream/midstream investment opportunities for the IOCs. The service currently covers the following NOCs: 
     
     
    • ADNOC (Abu Dhabi)
    • CNOOC (China)
    • CNPC (China)
    • Gazprom (Russia)
    • KMG (Kazakhstan)
    • KPC (Kuwait)
    • LNOC (Libya)
    • NIOC (Iran)
    • NNPC (Nigeria)
    • ONGC (India)
    • PDVSA (Venezuela)
    • PEMEX (Mexico)
    • Pertamina (Indonesia)
    • Petrobras (Brazil)
    • PETRONAS (Malaysia)
    • PTT (Thailand)
    • QP (Qatar)
    • Rosneft (Russia)
    • Saudi Aramco (Saudi Arabia)
    • Sinopec (China)
    • Sonangol (Angola)
    • Sonatrach (Algeria)
     
    Each NOC is analyzed from a corporate and a portfolio perspective, giving clients a thorough understanding of the internal dynamics and strategies of each company.


    The Corporate Perspective

     
    • Timeline: Relevant key events leading up to the present status of the NOC
    • Government-NOC Relations: Linkages between energy policy and NOC Strategies ; assessment of government finances and financial requirements, and the implications for NOC targets/objectives; NOC role in government finances, and in the economy
    • Key Personnel: Within the NOC and the parent Ministry
    • Financial performance: Where available, the NOC's finances are analyzed; with particular attention to the NOC's financial relationship with the government and potential problems that may emerge within that relationship

    The Portfolio Perspective


     
    • Upstream History: Evolution of the NOC, in both the domestic and international arenas
    • Upstream Strategies : Objectives, targets, key drivers
    • Benchmarking: Performance relative to the NOC peers
    • Portfolio Assessment: Description and assessment of domestic and international asset portfolios
    • Exploration & New Production: Long-term outlook for base production and new source volumes, both oil and gas

     

     

     

     

    The service features regularly updated, comprehensive analyzes for each of the NOCs, supported by Alerts and Memos analyzing key events and developments that impact the NOC and the host energy sector.

     
  • For further information on this Membership Service or other services please contact info@pfcenergy.com.
     
     
     
     
  •  Latest NOCS Membership Service Publications

  • 09.10 Rosneft: Bogdanchikov’s Dismissal Reflects Conflicts at the Top
    09.10 Gazprom (Russia) – Executive Brief
    09.10 Gazprom (Russia) – Datasheet
    08.10 CNOOC: New Generation of Leaders Step Up
    08.10 Gazprom (Russia) – Strategy & Performance Profile
    08.10 KMG (Kazakhstan) – Executive Brief
    08.10 KMG (Kazakhstan) – Datasheet
    08.10 Asian NOCs: Why Canadian Unconventionals?
    08.10 KMG (Kazakhstan) – Strategy & Performance Profile
    07.10 China: Re-evaluation of Safety Regulations
    07.10 Petrobras: 2010-2014 Business Plan Reflects Ambitions Amid Uncertainties
    07.10 PTT Plc (Thailand) – Executive Brief
    07.10 PTT Plc (Thailand) – Datasheet
    07.10 PetroVietnam: State Obligations Cloud Outlook
    07.10 Petroci (Cote d’Ivoire) Overview
    07.10 PTT Plc (Thailand) – Strategy & Performance Profile
    07.10 Classifying NOCs: Operational and Strategic Autonomy
    07.10 Mexico: Rise in Violence Impacts PEMEX
    06.10 GNPC (Ghana) – Strategy & Performance Profile
    06.10 GNPC (Ghana) – Datasheet
    06.10 GNPC (Ghana) – Executive Brief
    06.10 ADNOC: Shah Project Integral to State’s Gas Needs
    06.10 China: New Resource Tax in Xinjiang
    06.10 Qatargas: Appointment of New CEO
    06.10 PETRONAS: Changes in Strategic Priorities
    06.10 Sinochem: Peregrino Advances International Plans
    06.10 Venezuela: Government Increases Control over the Foreign Exchange Market
    06.10 Russia: New Kremlin-Approved Offshore Partner
    06.10 Algeria: Chekib Khelil Forced Out in Reshuffle
    05.10 Petrobras: An Evolving Ethanol Strategy
    05.10 PDVSA: Sunken Rig Highlights Gas Challenges
    05.10 ONGC and OIL Benefit from Further Gas Price Convergence
    05.10 Nigeria: Chinese Refinery Deal Unlikely to Materialize
    05.10 NNPC: New Group Managing Director Appointed
    05.10 Egypt: Promising Recovery, but Challenges Loom
    05.10 Petrobras: Partial Downstream Divestment in Argentina
    05.10 Algeria: Changes Underway at Sonatrach and Beyond
    05.10 NIOC: Leadership Changes Reflect Continued Challenges
    05.10 Rosneft: State Supports Growth in Eastern Siberia
    04.10 Brazil: Moving Toward Regulatory Limbo
    04.10 Saudi Aramco: Meeting Ambitious Domestic Downstream Objectives
    04.10 PEMEX: Taking A Step Back from Chicontepec
    04.10 PTT Group: Outlook Clouded by Political Climate
    04.10 Developments in the Overlapping Claims Areas in Asia
    04.10 Gazprom: Significance of its Gas Export Monopoly
    04.10 Malaysia: 'New Economic Model' Report Tests Limits to Reform
    04.10 CNPC (China) – Executive Brief
    04.10 CNPC (China) - Datasheet
    04.10 Nigeria: New Petroleum Minister and NNPC Head in Jonathan Administration
    04.10 Chinese NOCs: Global Expansion Drivers
    04.10 Ecopetrol: Capex Growth Trend Continues
    03.10 China: Opening Up of China’s Coal Bed Methane Sector
    03.10 CNPC (China) – Strategy & Performance Profile
    03.10 PetroChina: Partnership with Shell for Arrow Energy
    03.10 PEMEX: Ambitious Capex Plans — An Attempt to Contain Fall in Production
    03.10 Petrobras: Leadership Transition Period Begins
    03.10 CNOOC: Bridas Marks Entry into Latin America
    03.10 Sub-Saharan Africa: Frontier NOC Challenges
    03.10 PDVSA: Unrealistic Production Targets
    03.10 NNPC: Oil Minister Dismissed, with Energy Legislation Pending
    03.10 Pertamina: New Leadership, Ambitious Capex Plans
    03.10 Petrobras: A Taste of Growing Capex Ambitions
    03.10 Kazakhstan: New Ministries, Sharper Focus
    03.10 Gazprom: 2009 Pain Forces Strategic Re-direction
    03.10 India: Product APM Burdens ONGC
    03.10 Petrobras (Brazil) – Datasheet
    03.10 Petrobras (Brazil) – Executive Brief
    03.10 Petrobras (Brazil) – Strategy & Performance Profile
    02.10 Brazil: Another Bill Approved in Oil Sector Reform
    02.10 India & ONGC: An Evolving Gas Market
    02.10 RUSSIA REDUX: The Russian Oil Company Revival
    02.10 NOC Partnerships: 2010 and Beyond
    02.10 In Good Times and Bad: NOC Market Caps Growing Again
    02.10 PDVSA: Getting Help in the Orinoco Belt Development
    02.10 NNPC: Governance Crisis Unresolved, Despite Jonathan Appointment
    02.10 Mexico: Deepwater Dependent on Domestic Variables
    02.10 NOCs’ 2010 Upstream E&P Capital Expenditure Plans
    02.10 Mexico: Deepwater Dependent on Domestic Variables
    02.10 PETRONAS: New CEO Appointed
    02.10 China: National Energy Commission–Old Prescription in New Ink
    02.10 Asian NOCs: Sudan Secession Outlook and Portfolio Impact
    01.10 Sinopec: Competition for China’s Downstream Market
    01.10 OPEC Threshold Prices
    01.10 Qatar: Growth Model Goes From Strength to Strength
    01.10 China: Role of the SOEs and the Private Sector
    01.10 Kazakhstan:Continuing Pressure on Foreign Investors
    01.10 Sonatrach: Corruption Investigation Targets Company Management
    01.10 QP (Qatar) – Strategy & Performance Profile
    01.10 QP (Qatar) – Executive Brief
    01.10 QP (Qatar) – Datasheet
    12.09 PEMEX (Mexico) – Datasheet
    12.09 PEMEX (Mexico) – Strategy & Performance Profile
    12.09 PEMEX (Mexico) – Executive Brief
    12.09 Libya: Five Years On, Bid Rounds Failing to Deliver
    12.09 Petrobras: Conclusion of CPI
    12.09 PDVSA (Venezuela) – Datasheet
    12.09 PDVSA (Venezuela) – Executive Brief
    12.09 PDVSA (Venezuela) – Strategy & Performance Profile
    12.09 China: Financing of NOCs
    12.09 PETRONAS (Malaysia) – Strategy & Performance Profile
    12.09 PETRONAS (Malaysia) – Executive Brief
    12.09 PETRONAS (Malaysia) – Datasheet
    11.09 Sonangol (Angola) – Strategy & Performance Profile
    11.09 Sonangol (Angola) – Datasheet
    11.09 Sonangol (Angola) – Executive Brief
    11.09 CNOOC (China) – Executive Brief
    11.09 CNOOC (China) – Datasheet
    11.09 PEMEX: Chicontepec Audit Complicates Upstream Strategy
    10.09 KNOC: Acquisition Strategy Underway
    10.09 CNOOC (China) – Strategy & Performance Profile
    10.09 Russia and China: Learning to Collaborate
    10.09 NIOC (Iran) – Executive Brief
    10.09 NIOC (Iran) - Datasheet
    10.09 Saudi Aramco (Saudi Arabia) – Executive Brief
    10.09 Saudi Aramco (Saudi Arabia) – Datasheet
    10.09 Saudi Aramco (Saudi Arabia) – Strategy & Performance Profile
    10.09 NIOC (Iran) - Strategy & Performance Profile
    10.09 Pertamina (Indonesia) – Executive Brief
    10.09 Pertamina (Indonesia) – Datasheet
    10.09 Pertamina (Indonesia) – Strategy & Performance Profile
    10.09 Outlook for NOCs
    10.09 KazMunaiGaz (KMG): Weathering the Economic Crisis
    10.09 ADNOC (Abu Dhabi) – Executive Brief
    10.09 ADNOC (Abu Dhabi) – Datasheet
    10.09 Sonatrach (Algeria) – Executive Brief
    10.09 Sonatrach (Algeria) – Datasheet
    10.09 Petrobras: Striking a Delicate Balance
    10.09 Mexico: A Reform in Progress
    10.09 ADNOC (Abu Dhabi) – Strategy & Performance Profile
    10.09 Sonatrach (Algeria) – Strategy & Performance Profile
    09.09 Indonesia: The State of Oil and Gas Reforms
    09.09 PEMEX: Change in Chief Executive Officer
    09.09 Libya: Changes Add Pressure on LNOC
    09.09 CNOOC: Becoming an Integrated Company
    09.09 Brazil: Lula’s Reform Proposal Sent to Congress
    09.09 Sinopec (China) – Executive Brief
    09.09 Sinopec (China) – Datasheet
    08.09 Sinopec (China) – Strategy & Performance Profile
    08.09 Venezuela: Delays to Carabobo Tender
    08.09 Brazil: Lula Receives Reform Proposals
    08.09 Sinochem: China’s Fourth Largest NOC
    08.09 LNOC: Verenex Dispute Highlights Investment Risks
    08.09 PDVSA: Sidelining Labor
    08.09 India: New Budget and Implications for Oil and Gas Sector
    07.09 CNPC: The Race for a Stake in YPF
    07.09 Petrobras: Parliamentary Inquiry Commission (CPI)
    07.09 Gazprom: Outlook and Priorities
    07.09 KPC: Confronting the Impasse
    07.09 NOC Developments: 1H09 Updates
    07.09 Ecopetrol (Colombia) – Executive Brief
    07.09 Ecopetrol (Colombia) – Datasheet
    07.09 Nigeria: Implications of New Petroleum Industry Bill
    07.09 Ecopetrol (Colombia) – Strategy & Performance Profile
    07.09 Iraq: Disappointing Bid Round
    07.09 Deepwater Project Economics: Prices vs. Costs
    07.09 Sonangol: Angola Bid Round Delayed Again
    06.09 LNOC (Libya) – Executive Brief
    06.09 LNOC (Libya) – Datasheet
    06.09 Sinopec Group: Addax Boosts Upstream Portfolio
    06.09 China: Impact of Environmental Policy on NOCs
    06.09 China: The Politics of Environmental Policy
    06.09 Latin America: Locally-Owned Oil Service Companies (LOSCs)
    06.09 LNOC (Libya) – Strategy & Performance Profile
    06.09 High Level Management Changes in KMG
    05.09 Brazil: Still Waiting for New Pre-Salt Regulations
    05.09 Brazil: Still Waiting for New Pre-Salt Regulations
    05.09 PetroChina: SPC Acquisition Widens Marketing Influence
    05.09 LNOC: Revised Production Target
    05.09 CNOOC: Increasing Appetite for LNG
    05.09 UAE: State-Controlled Hybrid Investment Vehicles in the Global Downturn
    05.09 Chinese NOCs—Opportunities Overseas
    05.09 Performance of Listed Chinese NOC Subsidiaries
    05.09 PDVSA: Service Sector Expropriations Further Strain NOC
    05.09 PERTAMINA: Simmering Tensions with Government
    05.09 NNPC (Nigeria) – Executive Brief
    05.09 NNPC (Nigeria) – Datasheet
    05.09 China and Kazakhstan: Building Energy Security and Bilateral Ties
    05.09 NNPC (Nigeria) – Strategy & Performance Profile
    04.09 Mubadala (UAE): First Annual Report Published
    04.09 Sonangol: Entry into the Gulf of Mexico
    04.09 Venezuela: Limits of the President
    04.09 Gazprom: Getting Through the Economic Slowdown
    04.09 KPC (Kuwait) – Strategy & Performance Profile
    04.09 KPC (Kuwait) – Executive Brief
    04.09 KPC (Kuwait) – Datasheet
    04.09 Syrian Petroleum Company (SPC): Restructuring of Syria’s Oil and Gas Sector
    04.09 Sonatrach: Ambitious 2009-2013 Spending Plan
    03.09 The Evolution of Successful NOCs
    03.09 PDVSA: Competition for Carabobo Tender
    03.09 PETRONAS: Balancing Domestic and International Goals
    03.09 Possible Resolution of the Brunei-Malaysia Border Dispute
    03.09 PEMEX: Production Decline Puts Pressure on NOC
    03.09 Qatar Petroleum: Positioned to Weather the Storm
    03.09 China and Brazil: A New Deal (Part 2)
    03.09 China and Russia: A New Deal (Part 1)
    02.09 China: New Deputy Director-General of the National Energy Administration (NEA)
    02.09 Latin America: NOCs’ Finances Show Clear Divide
    02.09 How are the NOCs Positioned for the Economic Slowdown?
    02.09 Petrobras: A Bold Plan for the Future
    02.09 CNPC: Myanmar Pipeline Deal Reflects its Domestic and Regional Priorities
    02.09 New President Director for PERTAMINA
    01.09 Libya: Nationalization Talk Causes Concern
    01.09 Kuwait: New Oil Minister Follows Dow JV Cancellation and MP Opposition
    01.09 Sonatrach: Will Failed Bid Round Lead to Better Terms?
    01.09 ONGC (India) – Datasheet
    01.09 ONGC (India) – Strategy & Performance Profile
    01.09 ONGC (India) – Executive Brief
    01.09 Rosneft (Russia) – Executive Brief
    01.09 Rosneft (Russia) – Strategy & Performance Profile
    01.09 Rosneft (Russia) – Datasheet
    12.08 Crude and Product Inventories (December 2008)
    12.08 Where to Cut in the Upstream? The Answers are not Obvious—the Implications are Major
    12.08 A New Landscape for LNG
    11.08 Chinese NOCs: Weathering a Slowing Domestic Economy
    11.08 Algeria and Libya: Impact of the Financial Crisis
    11.08 SNPC: Congo Brazzaville’s NOC Seeks Operated Production
    11.08 Saudi Aramco: Al-Falih Appointed President & CEO
    11.08 Ghana: Elections Focus on Economy and Energy
    10.08 Petrovietnam: Inflation, Economic Policy and Political Reform Debate Pressures Company
    10.08 Russia: NOCs Get State Financial Assistance and Tax Relief
    10.08 Kazakhstan: Major Changes in State Asset Management
    10.08 Thailand: Political Crisis with No End in Sight
    09.08 NIOC: Changes at Petroleum Ministry
    09.08 Brazil: Future Expectations Meet Current Politics
    09.08 China Oilfield Services Limited (COSL): A New Platform for CNOOC’s “Go-West” Ambition
    09.08 PERTAMINA: Election Tactics Will Impact NOC
    09.08 ADNOC: Sour Gas Developments Highlight New Government Thinking
    08.08 KNOC: Government Boosts International E&P Spending, But Different Strategy Required
    08.08 Iran: Proposed PSAs for the Caspian
    08.08 Chinese NOCs: Diverging Service Company Strategies
    08.08 KMG: More Organizational Changes Made at the Top
    08.08 Brazil: The Country’s Oil Future Is Already Here
    08.08 China: New National Energy Administration
    07.08 Mexico: Calderon’s Disappointment
    07.08 PETRONAS: Politics, Inflation and Economic Concerns Pressure Company
    07.08 Gazprom: Beyond Gas and into the Power Sector
    07.08 Petrobras: Labor Unrest Continues
    07.08 Saudi Arabia: Raising Capacity
    07.08 CNOOC: East China Sea Deal Opens Cooperative Development of Chunxiao
    07.08 Libya: Border Dispute with Malta Emerges
    07.08 Brazil: Framing the Pre-Salt Challenge
    06.08 Russia: No Competition in Russia’s Offshore
    06.08 Kazakhstan: The Economy's Growing Pains
    06.08 GCC States: Should They or Their NOCs Have Higher Ratings?
    06.08 Credit Ratings: Potential Sovereign Rating Changes
    06.08 Brazil: Making It to Investment Grade
    06.08 PETRONAS: Longstanding Natural Gas Subsidies to be Reduced by July 2008
    05.08 CNPC: Service Sector Restructuring
    05.08 PetroChina: High Level Management Changes
    05.08 Russia: New Energy Ministry and Government Appointments
    05.08 Yemen: A New NOC in the Making?
    05.08 China’s Oil Subsidies: Costs Not the Only Problem
    05.08 Overlapping Claims Areas in Asia
    05.08 PERTAMINA: New Head of BPMigas Appointed
    05.08 Russia: High Expectations for Tax Relief in Oil Sector
    04.08 Venezuela: Windfall Tax Hits Companies Including PDVSA
    04.08 Mexico: Energy Reform on the Table
    04.08 KMG: Crude Export Duty Hits NOC
    03.08 Venezuela: Off-Budget Spending Strains Finances
    03.08 PERTAMINA: Management Reshuffle
    03.08 Petrobras: Organizational Changes Follow New Ministerial Appointment
    03.08 China: Energy Super Ministry Shelved, but Creation of Regulatory Institutions Will Continue
    03.08 UAE: State-Controlled Hybrids and Energy Sector Investments
    03.08 OPEC States: $100 Oil Wanted by All, Needed by Some
    03.08 Ecopetrol: Ambitious Expansion Strategy, but Materiality and Partnerships Needed for Sustainability
    03.08 Russia: Oil Service Sector on the Rise
    02.08 Sonatrach: Human Resources Reform as Back-door Revival of Hydrocarbon Law Objectives
    02.08 The Enduring IOC Value Proposition in Gas
    02.08 KMG: Key Political and Hydrocarbon Sector Decision-Makers Update
    02.08 Venezuela: Looming Cash Flow Crunch
    01.08 Gazprom: Investment Appetite and Reality
    01.08 Indonesia: Regulators Under Fire
    01.08 Saudi Arabia: Aramco Launches First IPO
    01.08 Petrovietnam: Supporting Vietnam’s Economic Expansion
    05.07 Network Valuation in a World of Complexity
    09.06 The New Brain Drain: Challenges NOCs, Provides Opportunities For Others
    09.06 Venezuela: The Battle For the Orinoco Belt Has Begun
    05.06 Mexico: Oil Policy Finally on the Table
    04.06 Surging Populism in Latin America: Will IOCs Get Caught in the Current? Part 3: Ecuador
    04.06 Surging Populism in Latin America: Will IOCs Get Caught in the Current? Part 2: Bolivia
    04.06 Surging Populism in Latin America: Will IOCs Get Caught in the Current? Part 1: Argentina
    03.06 Sovereign Ratings: A Look at Oil and Gas Producers
Areas of ExpertiseMarket DynamicsGeopoliticsIntegrated StrategiesUpstreamMid- Downstream GasDownstream Oil