Until this book was published little had appeared on the matter of the organization of production in oil gathering. This book:
- Describes the global offshore oil supply industry and its features on one of the world’s major offshore oil services bases
- Draws on the theory of the multinational corporation to explain why buyers and sellers should have internationalized themselves into a symbiotic relationship
- Discusses the preference of the oil companies for vertical disintegration
- Explains the transaction cost paradigm
- Integrates the largely American literature on the transaction cost paradigm with the literature on the multinational corporation (which is largely British).
Table of Contents
Lists of Tables, Figures. Author’s Preface. 1. Introduction. 2. Measurement Costs, Auctions and the Process of Price Formation. 2. Measurement Costs, Auctions and the Process of Price Formation. 3. Vertical Disintegration. 4. The Offshore Supply Industry. 5. The Multinational Offshore Oil Supply Industry: The Theoretical Aspect. 6. The Offshore Oil Supply Industry in Its Main British Service Base. 7. Legal and Customary Practices in the Offshore Oil Supply Industry Markets. 8. Bid-prices, Rent Distribution and Adjustment in the Long Run. 9. Measurement Costs and Optimization of the Number Of Invited Tender-Bidders. 10. The Buyers as Market-Makers. 11. Host Countries and the International Offshore Oil Supply Industry: Problems of Entry and Exit. 12. Conclusions: On Choosing a Market in the Offshore Oil-Gathering Business. Bibliography. Index.