State-owned enterprises: Role and governance

- In this session, we're going to talk about the role of state owned enterprises in extractive sector governance. And one of the special features of the oil, gas, and mining industries is the often outsized role played by state controlled companies in the management of the sector. Beginning in the oil and gas sector, state owned enterprises play a dominant role. They control about 90% of all global oil reserves and they're responsible for about 75% of production. In the mining industry, the numbers are a little bit lower but the role is still important. A 2010 study by the World Bank showed that about 24% of ownership in the global mining industry is controlled by state-owned companies. Most of these state-owned enterprises are primarily active within their home countries where they play a range of roles in developing and exploiting national reserves. A smaller group goes beyond that and is actually going overseas and…