ABSTRACT
The oil industry operates through a complex network of relationships spreading throughout the world. It is the world’s leading industry in size; it is probably the only international industry that concerns every country in the world. Until very recently, however, ownership and control of the oil industry were in the hands of a very small group of companies which dominated the whole industry. These companies can be categorized into two broad groups: ‘Majors’ and ‘Independents’. The major group in the international oil triangle consists of the oil-consuming countries. Within this group one can differentiate between two forces: the home governments of the international oil companies; and the countries comprising the oil-importing Third World. The history of the international oil industry begins with the history of American production. The second force within the oil-importing countries is composed of the Third World non-oil-producing members.
