NO. 49


The DisIntegration Of The Oil Industry

by Paul Mlotok

The following is the text of a paper by Dr. Paul Mlotok (Principal, MorganStanley) delivered at the Oxford Energy Seminar on 31 August.

I am often asked whether we will see more mega-mergers in the oil industrysuch as we saw in the 1980s, when Texaco bought Getty, Chevron bought Gulf, andMobil bought Superior Oil. In fact, what I see developing is just the opposite - adisintegration of many of the major oil...