The importance of transnational corporations in the supply of oil to Europe: Implications

This paper analyzes the positioning of European and American transnational oil companies in the supply of oil from outside Europe to European countries. The analysis focuses on the triangular relationship between: the control that these companies exercise over oil refining and the marketing of petroleum products in Europe; the international production of crude by these companies in oil regions; and the import of crude oil by European countries. Two indicators were developed to assess the relevance of these large corporations: (a) the extent of the supply to their European refineries via their own international production, and (b) the contribution of each company to the total crude oil imports received by six European countries.