INTERNATIONALIZATION OF OIL COMPANIES AND LIMITS TO NATIONAL DEVELOPMENT PLANNING

Abstract

The objective of this paper is to discuss current constraints in planning of national development in oil-producing countries, resulting from changes that occurred during the last decades in the organization oil industry. We will focus particularly on the process of internationalization of national companies and their impact on the ability of governments to apply mechanisms of appropriation and distribution of oil revenues. With this objective, the article starts analyzing certain peculiarities in the development of land ownership in the oil industry. Here we attempt to point out historical determinants that are necessary to take into account to understand the relationship between emergence of national companies and internal development of the exporting countries. Then we will present an analysis of the treaties that currently rule international production of energy and of the investment treaties that were sign by the oil producing countries in recent decades. There we will note increasing limitations on national appropriation and distribution of land rent.