National Oil Company (NOC)

A National Oil Company (NOC) is a government-owned organization responsible for exploring, extracting, refining, and selling oil and gas resources within a country. It plays a key role in managing a nation's energy resources, often with the goal of ensuring domestic energy supply, boosting the economy, and generating revenue for the government. NOCs can operate independently or in partnership with private companies, and they may also set policies related to resource management, environmental protection, and economic development related to the oil industry. Examples include Saudi Aramco and national entities in countries like Libya, Iran, and Venezuela.