OIL PRODUCERS AND DOWNSTREAM INTEGRATION

By Alirio A. Parra

(The following is the text of a presentation made by Dr. Alirio A. Parra at the conference on "Oil and Money in the Eighties," organized by the International Herald Tribune and the Oil Daily, in London on 24 October 1985. Dr. Parra is Managing Director of Petroleos de Venezuela (UK).)

It is plain to all of us that the past 15 years have seen incredible changes in the oil industry. Unprecedented price movements,...