Who Governs Global Oil Prices?
... was dominated by seven oil majors, or the 'seven sisters', who reflected the global power balance – with USA and still Great Britain dominating this list. Today, many of the top Western oil companies draw their roots from these original ... ... formulated by a cost-plus system for crude and now net-back for other petroleum products. Again, the seven sisters preferred long-term contracts and also used modern concessional tools to account for socio-economic factors. But, in 1969 to 1973 a major ...
13.09.2013