The Importance of Private Governance in the Energy Sector

Great Britain had actually created a national oil company in 1975. Thatcher privatised British National Oil Company and then British Petroleum with the intent of creating a private or commercial governance of Northsioil. She was able to present the governance of North Sea which basically zeroed Royalties with very low taxation with very favourable investments for private business as a model that should be applied elsewhere, he says.