Multinational operation, ownership and efficiency differences in the international oil industry

Ohene-Asare, Kwaku; Turkson, Charles; Afful-Dadzie, Anthony

doi:10.1016/j.eneco.2017.10.006

Cited by 22 publications

(11 citation statements)

References 67 publications

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“…The most recent contributions to this debate by Ohene-Asare et al (2017) and Gong (2018) have had similar findings to those of previous studies. Using data from 2001 to 2010 from a sample of 50 global petroleum companies, Ohene-Asare et al (2017) found private petroleum firms to be more efficient in both scale and technical efficiency. Further investigations could have been done to determine the specific level of state ownership that is recommended for better performance.…”

Section: Introductionsupporting

confidence: 81%

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Ownership and dynamic efficiency of petroleum firms: a new perspective

Asuah

Ohene-Asare

2019

IJESM

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Purpose The purpose of this study is to examine efficiency differences among petroleum firms based on their ownership status, with the aim of helping these firms understand how specific levels of state-ownership affects efficiency and to bring new perspective to the ownership-performance literature. Design/methodology/approach The study uses ten-year data (2001-2010) of 32 global petroleum firms categorized into four groups based on ownership types. The metafrontier analysis is used with the dynamic slack-based measure to estimate dynamic efficiency differences among the groups while respectively, accounting for carryover variables such as oil and gas reserves. Findings Fully state-owned firms outperformed private, majority and minority state-owned firms, indicating that not all types of state-owned petroleum firms are outperformed by private firms. Additionally, firms with shared ownership between state and private are seen to have a lesser comparative advantage in the industry than those with full private or state ownership. Practical implications Jointly owned petroleum firms should consider converting ownership to either full private or full state control. Conflict management measures should be used to handle possible conflicts between different shareholding groups. Originality/value This is among the first studies to sub-group state ownership into various levels to comprehensively examine specific levels of state ownership that is detrimental to the performance of petroleum firms. It is also the premier oil efficiency study to use the metafrontier framework to cater for group heterogeneity. The study treats oil and gas reserves as interconnecting variables that are not consumed only in the period for which they are discovered to ensure fair assessment.

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Section: Introductionsupporting

confidence: 81%

“…However, although state ownership could be in varying degrees from full state ownership, majority state ownership to minority state ownership, the question as to what extent of government ownership is good or bad for oil firms has been left unanswered. The need to explore answers to this question has been noted in Ohene-Asare et al (2017).…”

Section: Introductionmentioning

confidence: 99%

Ownership and dynamic efficiency of petroleum firms: a new perspective

Asuah

Ohene-Asare

2019

IJESM

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“…There has been quite a number of efficiency-related research in the petroleum industry, substantially among the issues of ownership (Ike and Lee, 2014;Wolf, 2009;Ohene-Asare et al, 2017), privatization (Hawdon, 2003;Kashani, 2005) and environmental efficiency (Ismail et al, 2013;Sueyoshi and Goto, 2012). Additionally, as this study does international comparison of the oil and gas supply activities of various countries, it is encouraging that some studies have previously attempted such international comparison.…”

Section: Efficiency In the Petroleum Industrymentioning

confidence: 83%

Inter-group performance of oil producing countries: a meta and global frontier analysis

Ohene-Asare

Gakpey²,

Turkson

2018

IJESM

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Purpose The purpose of this study is to compare the production efficiencies and frontiers differences of oil-producing countries (OPCs) in four inter-governmental organizations (IGOs) in the international petroleum industry with the aim of providing such countries understanding of group characteristics that help maximize their supply interests. Design/methodology/approach The empirical analysis is based on 14 years of panel data covering the period from 2000 to 2013. In all 46 unique countries who are members of four IGOs relevant to the international petroleum industry are examined on individual and group bases. The authors use both metafrontier analysis and global frontier difference in examining the group average and group frontiers, respectively. Findings Groups with high inter and intra-group collaborations which ensure exchange of information, organizational learning and innovation tend to do better than groups with even higher hydro-carbon endowment. Additionally, hydro-carbon resource endowment may not be the solution to group inefficiency without higher endowment in human capital, economic stability, technology and infrastructure. Practical implications Choice of inter-governmental organizational membership should be based on the level of inter- and intra-group collaborations, human capital endowment among others and not mere historic links or even resource endowment. Originality/value This is among the few studies to compare and rank IGOs. Specifically, it is among the first studies to analyze the petroleum production efficiencies of IGOs involved in the international petroleum industry. This study assesses the performance differences among OPCs with the aim of identifying for OPCs the characteristics of inter-governmental groups that are beneficial to efficiency in upstream petroleum activities.

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“…Las compañías internacionales petroleras (IOCs) y compañías petroleras nacionales (NOCs), que normalmente presentaban operaciones muy heterogéneas, con el tiempo han homologado poco a poco sus actividades. Esto ha sido posible debido a que se ha permitido la participación de inversión privada en prácticamente todas las empresas que estaban dirigidas por el Estado, esto se refleja en el gran número de NOCs que a partir de 2010 realizaron reformas no sólo a su producción petrolera, sino también a sus políticas de generación y distribución de energía (Ohene-Asare et al, 2017).…”

Section: Conclusionesunclassified

Eficiencia y productividad de la industria petrolera mundial en el sector UPSTREAM: Un análisis a través de métodos no paramétricos, 2008-2017

Villegas¹,

José²

2021

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Eficiencia y productividad de la industria petrolera mundial en el sector UPSTREAM: Un análisis a través de métodos no paramétricos, 2008-2017 Ninguna parte de este escrito amparado por la Ley de Derechos de Autor, podrá ser reproducida, transmitida o utilizada en cualquier forma o medio, ya sea gráfico, electrónico o mecánico, incluyendo, pero sin limitarse a lo siguiente: Citas en artículos y comentarios bibliográficos, de compilación de datos periodísticos radiofónicos o electrónicos. Visite nuestro sitio WEB en: www.ecorfan.org

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Multinational operation, ownership and efficiency differences in the international oil industry

Cited by 22 publications

References 67 publications

Ownership and dynamic efficiency of petroleum firms: a new perspective

Ownership and dynamic efficiency of petroleum firms: a new perspective

Inter-group performance of oil producing countries: a meta and global frontier analysis

Eficiencia y productividad de la industria petrolera mundial en el sector UPSTREAM: Un análisis a través de métodos no paramétricos, 2008-2017

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