Consumer countries and international oil firms keen to gain greater access to the world’s energy resources are likely to walk away empty-handed from talks with producer nations in Rome.
During the 1970s, the international oil companies controlled nearly three-quarters of global oil reserves and 80 per cent of production, said Paolo Scaroni, chief executive of Italian oil and gas company Eni in a speech at the opening of the International Energy Forum (IEF).
Now, they control 6 percent of oil and 20 per cent of gas reserves, and 24 per cent of oil and 35 per cent of gas production, he said. National oil companies hold the rest.