November 2019

Opportunity NOCs: Addressing the Lack of Public Data on National Oil Companies

The World Bank estimates that national oil companies (NOCs) control up to 90% of global oil and gas reserves and represent 14 of the top 20 oil producing firms in the world. NOCs often play an outsize role in emerging market economies, acting as stewards of a country’s resource development. While some operate efficiently and deliver significant revenue to their treasuries, many are plagued with corruption and inefficiency. Despite their important role in determining the future supply, security, and pricing of oil, NOCs are poorly understood.