National Oil Companies

National Oil Companies (NOCs) are government-owned entities responsible for exploring, extracting, refining, and selling oil and gas resources within their country's territory. They play a key role in managing national energy resources, often serving as the primary driver of a country's oil industry. Unlike private companies, NOCs operate with government objectives in mind, such as ensuring energy security and supporting economic development. Examples include Saudi Aramco (Saudi Arabia) and Pemex (Mexico). They can be major international players and influence global oil markets through their production decisions and strategies.