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Review
'Francisco Parra's long service in the oil industry and his rare intellectual capabilities make him an authority on this subject. [His] book is a must.' --Dr F J Chalabi, Executive Director, Centre for Global Energy Studies
'Few in the industry can match the variety of Parra's experience. This is a world-class book and a must for all those interested in international oil policies and politics, and a good read as well.' --Nordine Ait-Laoussine, former Algerian Minister of Oil
'This is a splendid volume: erudite; lucid; forthright; full of insight; and a rollicking good read, to boot...Frank Parra has written a tour-de-force, a thinking man's 'Prize'' --International Atomic Energy Agency Journal
'Few in the industry can match the variety of Parra's experience. This is a world-class book and a must for all those interested in international oil policies and politics, and a good read as well.' --Nordine Ait-Laoussine, former Algerian Minister of Oil
'This is a splendid volume: erudite; lucid; forthright; full of insight; and a rollicking good read, to boot...Frank Parra has written a tour-de-force, a thinking man's 'Prize'' --International Atomic Energy Agency Journal
'Few in the industry can match the variety of Parra's experience. This is a world-class book and a must for all those interested in international oil policies and politics, and a good read as well.' --Nordine Ait-Laoussine, former Algerian Minister of Oil
'This is a splendid volume: erudite; lucid; forthright; full of insight; and a rollicking good read, to boot...Frank Parra has written a tour-de-force, a thinking man's 'Prize'' --International Atomic Energy Agency Journal
'Few in the industry can match the variety of Parra's experience. This is a world-class book and a must for all those interested in international oil policies and politics, and a good read as well.' --Nordine Ait-Laoussine, former Algerian Minister of Oil
'This is a splendid volume: erudite; lucid; forthright; full of insight; and a rollicking good read, to boot...Frank Parra has written a tour-de-force, a thinking man's 'Prize'' --International Atomic Energy Agency Journal
Review
Geopolitics of Energy Journal: "excellent primer for students new to the international petroleum industry and a fine review for those with greater experience in the energy realm." "well-researched, well-argued and highly readable" "One of the great writers in the energy world, capable of a wonderful turn of phrase" IEAE (International Atomic Energy Agency) Journal: "This is a splendid volume: erudite; lucid; forthright; full of insight; and a rollicking good read, to boot...Frank Parra has written a tour-de-force, a thinking man's 'Prize'. I unhesitatingly recommend it to all with interest in the petroleum industry - students, academics, researchers, consultants, managers - and for that matter to the general public as well." Mentioned in the Times (T2) "Required Reading Section" by David Mattin, 05/03/04 Fuel Oil News Magazine: "In view of current events it is a particularly relevant publication."; Muslim World Book Review, 253, 2005 - "The book is a wonderful source for all those interested in details and facts". 'This book is a superb addition to the literature. It carries some wonderful turns of phrase that delight and make its reading a real pleasure. Without a doubt, this book is a major contribution to understanding the industry.' Paul Stevens, Journal of Energy and Development, Autumn 2005
--This text refers to an out of print or unavailable edition of this title.
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First Sentence
The international oil industry expanded quickly after the Second World War, largely from the base of the low-cost oil reserves discovered in Venezuela and a handful of countries in the Middle East, by a handful of US and European companies, later dubbed "The Seven Sisters" by Enrico Mattei, head of Italy's national oil company, AGIP. Read the first page
Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
The international oil industry expanded quickly after the Second World War, largely from the base of the low-cost oil reserves discovered in Venezuela and a handful of countries in the Middle East, by a handful of US and European companies, later dubbed "The Seven Sisters" by Enrico Mattei, head of Italy's national oil company, AGIP. Read the first page
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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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3 of 3 people found the following review helpful
Fascinating account of the development of the petroleum industry and the political and economic consequences thereof
16 Oct 2010
Format:Paperback|Amazon Verified Purchase
Mr Parra guides the reader through the development of petroleum resources from the beginning of the 20th century to the present. From extensive research and his own lengthy experience in the industry, the author manages to construct a compelling narrative, focusing on the economics of the resource and the political consequences thereof in the context of global and regional power struggles. The author explains the early conflicts arising from western imperialism with the dominance of the international oil companies over oil production in 'backward' states. When these states took control of production new conflicts arose, notably between them and the consuming nations but also amongst themselves.
The detailed description of the political and economic strategies of each of the actors toward the myriad challenges faced does much to explain the related actions of each (especially the United States) throughout the cold war period and after 1990 with the large scale involvement the USA in the Middle East power play which continues to the present.
Despite the author's long involvement as an 'insider' in the oil industry (OPEC Secretary General), I believe a thoroughly objective account is given. The author is very much forthcoming with criticisms of OPEC infighting and what he saw as their blunders of strategic policy. This book certainly shattered my preexisting notions of OPEC as a single headed price-gouging beast with near total market control. The author also demonstrates the sometimes confused position of the United States toward energy supply and national security and shows the complicitude of that nation in keeping oil prices at "reasonable" (read: high) levels despite being the largest single consumer and net importer.
One criticism I make concerns the lack of a glossary. There is a table of acronyms but the author sometimes uses others not listed and uses words of importance which, in my opinion, really could do with being explained in context. Some more graphical figures relating to oil consumption, reserves, production and price and the national/corporate basis thereof would likely help the reader to better understand the forces at play here.
The detailed description of the political and economic strategies of each of the actors toward the myriad challenges faced does much to explain the related actions of each (especially the United States) throughout the cold war period and after 1990 with the large scale involvement the USA in the Middle East power play which continues to the present.
Despite the author's long involvement as an 'insider' in the oil industry (OPEC Secretary General), I believe a thoroughly objective account is given. The author is very much forthcoming with criticisms of OPEC infighting and what he saw as their blunders of strategic policy. This book certainly shattered my preexisting notions of OPEC as a single headed price-gouging beast with near total market control. The author also demonstrates the sometimes confused position of the United States toward energy supply and national security and shows the complicitude of that nation in keeping oil prices at "reasonable" (read: high) levels despite being the largest single consumer and net importer.
One criticism I make concerns the lack of a glossary. There is a table of acronyms but the author sometimes uses others not listed and uses words of importance which, in my opinion, really could do with being explained in context. Some more graphical figures relating to oil consumption, reserves, production and price and the national/corporate basis thereof would likely help the reader to better understand the forces at play here.
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