Oil exploration and production between the 1980s and 1990s: Geological advantage and international petroleum orders

The substantial weakening of the arrangements that have given national oil companies in the OPEC countries exclusive access to their oil reserves are explained. Although those members of OPEC with large resources such as the Gulf countries and Venezuela manage to preserve the old system, that is not the case for member countries which have difficulty in maintaining their production and proven reserves. The new international arrangements that have taken shape in the upstream portion of the world oil industry are discussed, highlighting events in the important oil-producing developing countries, and the potential and uncertainty involved in cooperative agreements with the former Soviet Union. 27 refs., 1 fig., 5 tabs