Resource Nationalism Specter Hovers Over The Oil Industry: The Transnational Corporate Strategy To Tackle Resource Nationalism Risks

Abstract

Resource nationalism is building momentum across oil-endowed countries. Transnational corporations (TNCs) have to effectively address the emerging scenarios that are caused by the resurgence in resource nationalism. This is clearly a diserable focus that has received much attention in the literature on government-business relations ever since the oil nationalization of the 1970s. But there is limited literature that provides a synthesized view on the transnational oil companies’ (TNOC) strategies to tackle resource nationalism risk; this leaves a gap in the literature where the paper aims to contribute. The paper explores the exclusive literature on resource nationalism and the activities of TNOCs, and from this literature engages in conceptual development. The paper focuses on the notion of resource nationalism and its implications on TNOCs’ activities in host states. This paper provides policy guidelines, suggesting the ways in which the major TNOCs can respond with robust responsible and sustainable programs to the resource nationalism in the global oil industry.