High Quality Content by WIKIPEDIA articles! The nationalisation of oil supplies refers to the process of deprivatization of oil production operations, generally in the purpose of obtaining more revenue from oil for oil producing countries. This process, which should not be confused with restrictions on crude oil exports, represents a significant turning point in the development of oil policy. Nationalization eliminates the concession system—in which private international companies control oil resources within oil-producing countries—and allows oil-producing countries to regain control. Once these countries become the sole owners of their resources, they have to decide how to maximize the net present value of their known stock of oil in the ground. Several key implications can be observed as a result of oil nationalization. On the home front, national oil companies are often torn between national expectations that they should carry the flag and their own ambitions for commercial...

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