Some of the Middle East’s biggest NOCs have adjusted their strategies to list their shares, attract foreign investment and engage in more meaningful partnerships with IOCs. But can the region’s state oil giants – which have a reputation for rigidity and scepticism towards foreign ownership – really ease up and move with the times?
Saudi Arabia has forbidden IOCs from developing its oil since the sector was renationalised in the 1970s. It offered gas development opportunities to IOCs in the 1990s, but talks collapsed after Saudi...
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