Reforming national oil companies: successes and failures
The article analyses the key trends in the energy sector reforms that were implemented in Algeria, Angola, Brazil, Colombia, Indonesia, Mexico, Nigeria and Saudi Arabia. The author studies such important aspects of these reforms as the elimination of fuel subsidies, partial privatization of national oil companies, demonopolization of the sector, creation of an independent regulator, and measures aimed at attracting international oil companies. The paper discusses the main drivers of these reforms, reasons for their successes and failures, as well as the implications of the reforms for the national oil companies in these countries.