Key Players in Supplying Future Oil

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  • Key Players in supplying future oil
    • TNCs e.g. Shell
      • Historically the energy industries have been dominated by large TNCs such as Shell but the power of the TNCs has been challenged by OPEC and recently national energy companies
      • Due to the fact that TNCS have come under attack from environmental groups
      • Companies like BP have worked hard to establish a positive public image through investments in renewable energies
    • Shell
      • Consists of a global group of energy and petrochemicals companies with a startegy to reinforce their position as a leader in the oil and gas industry in order
        • One of the focuses has been to explore for new oil and gas reserves
      • Produce 2% amount of world's oil
      • Produce 3% amount of world's gas
      • 3.1 million barrels of gas and oil everyday
      • $2 billion spent on CO2 and renewable energy technologies over the last 5 years
      • In 09 greenhouse gas emissions were approximately 35% below 1990 levels
    • OPEC
      • Organization of the Petroleum Exporting Countires is a permanent intergovernmental organization of 12 oil-exporting developing nations
      • Formed in 1960 to protect the interests of oil producing companies and have formed what some view as a cartel
      • Sets oil production quotas for its members in response to economic growth rates and demand and supply conditions -ensure fair and stable prices
      • End of 2006, OPEC members had over 78% of the worlds total oil reserves and produce 45% of the worlds crude oil and 18% of natural gas
      • Criticized that it controls the price of oil as it is worried that increasing the supply of oil would mean investors would stop investing causing a collapse in price


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