Oil for Britain: The United Kingdom and the Remaking of the International Oil Industry, 1957-1988

The UK's response to shifts in power from the major oil companies to the oil-producing states was to build up its competency regarding oil matters,but this was driven by internal divisions within Whitehall,the efforts of the oil companies themselves,and ultimately the political will of the Conservative Party under Margaret Thatcher to get the state out of the business of oil and gas.

Format: Hardback
Length: 236 pages
Publication date: 30 June 2023
Publisher: Taylor & Francis Ltd

The international oil industry underwent a significant transformation from 1957 to 1988, with the United Kingdom playing a pivotal role. Home to major oil companies like British Petroleum (BP) and Shell, as well as substantial oil and gas reserves in its territorial waters, the UK was at the center of this transition. While renowned for its liberal policies towards oil and gas production, both before and after the discovery of North Sea oil and gas, the UK's response to shifts in power from the major oil companies to oil-producing states, many of them in the Organization of Petroleum Exporting Countries (OPEC), took an interesting turn. To address this, the UK embarked on efforts to influence the activities of BP and Shell both abroad and domestically, leading to the establishment of a state-run oil company, the British National Oil Corporation, aimed at exerting greater state control over oil and gas production and distribution. However, the failure of these endeavors was influenced by internal divisions within Whitehall, the resistance of the oil companies, and ultimately the political will of the Conservative Party under Margaret Thatcher to disengage the state from the oil and gas industry.

The international oil industry underwent a significant transformation from 1957 to 1988, with the United Kingdom playing a pivotal role. Home to major oil companies like British Petroleum (BP) and Shell, as well as substantial oil and gas reserves in its territorial waters, the UK was at the center of this transition. While renowned for its liberal policies towards oil and gas production, both before and after the discovery of North Sea oil and gas, the UK's response to shifts in power from the major oil companies to oil-producing states, many of them in the Organization of Petroleum Exporting Countries (OPEC), took an interesting turn. To address this, the UK embarked on efforts to influence the activities of BP and Shell both abroad and domestically, leading to the establishment of a state-run oil company, the British National Oil Corporation, aimed at exerting greater state control over oil and gas production and distribution. However, the failure of these endeavors was influenced by internal divisions within Whitehall, the resistance of the oil companies, and ultimately the political will of the Conservative Party under Margaret Thatcher to disengage the state from the oil and gas industry.

Weight: 620g
Dimension: 234 x 156 (mm)
ISBN-13: 9781032291147