National Oil Companies - World Bank

National Oil Companies Evolution, Issues, Outlook May 27, 2003. National Oil Companies Workshop Current Roles and Future Prospects World Bank Washington Charles McPherson Senior Adviser Oil, Gas and Chemicals World Bank Group I. Introduction Oil is of special importance to developing countries. It accounts for very high percentages of GDP, government revenues and foreign exchange earnings in many of the countries where it is produced. In importing countries, it typically accounts for a significant share of foreign exchange expenditures and, in all countries in the developing World , taxes on oil consumption contribute importantly to fiscal revenues.

National Oil Companies Evolution, Issues, Outlook May 27, 2003 National Oil Companies Workshop Current Roles and Future Prospects World Bank Washington D.C.

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