ABSTRACT
This conclusion presents some closing thoughts on the concepts covered in the preceding chapters of the book. The book discusses the international energy agency released a report about Iraq, which is emerging as the third largest exporter of oil worldwide. It explores international organizations and industry professionals, vying for liberalization, should better grasp why and when oil-rich countries are likely to open up to foreign investors or rather keep their upstream closed. The book focuses on case studies revealed that both a closed and an open oil upstream sector can be run efficiently as long as the policy-makers consider the contextual parameters in place and tend to make economically rational decisions. The book explores the countries assessing their experience with existing control structures as well as the many countries in the process of joining the "petroleum club" of oil producing nations.
