04 Jul 2018

Learning from Venezuela: How to Manage National Oil Company (NOC)

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The sudden drop in oil prices in 2014 from $115 per barrel [1] to about $70 per barrel pushed many oil producers to their lowest level. Many companies started to cut costs of production and exploration for more than 25%. According to Houston-based consulting firm Graves & Co, in Feb 2017 the total layoff was 441,371 people around the world, and this number is predicted will keep growing.

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