The petroleum industry in oil-importing developing countries.

Studies the development and growth of the petroleum industry in oil-importing developing countries (OIDCs), by examining Argentina, India, and Korea. The evolution of the industry shows the following conflicting concerns: the desire for economic development, the constraints of foreign-exchange requirements, and the need for security of supply. Studies changing ownership of oil facilities from ten OIDCs. The first operations taken over by them allowed for flexibility, and reduced their dependence on multinational oil corporations (MNOCs). The operations of the MNOCs in OIDCs are being bought out, or refining and marketing have been taken over by local entities. The future exploration and development of crude oil will depend on the capital and technology available to OIDCs. -from Author