The private sector aside, the company faces stiff competition from state run oil companies that have access to majority of the global oil fields. Such monopolies pose the major threat in terms of competition to Chevron as all oil companies vie for the limited global oil reserve, access to which can only be granted by the local governments. Thus while the private sector has been able to get access in Africa and Europe, political changes and uncertainty accompanied by changing legislation has resulted in large parts of the Middle East difficult to access.
- Petrobras has gotten access to majority of Brazil’s oil reserves and is engaged in exploration in the South American continent.
- Pemex, the company in Mexico has been going strong in North America.
- Petróleos de Venezuela S.A has gotten exclusive access to Venezuelan oil reserves which is a trend bound to continue as the government attempts to expel foreign companies.
- Indian Oil is going strong in India with its vast stretch of mineral abundant land.
- Aramco in Saudi Arabia is a powerhouse in the industry with control of some of the biggest oil fields in the world.
- · Kuwait Oil Company enjoys sole access to the second largest oil field in the world.
- · National Iranian Oil Company, being the sole driller in closed up Iran.
- Petrokazakhstan is a growing company with potential since it has access to some of the few unexplored and untapped oil reserves of the world.
- Rosneft and Yukos in Russia have been the subject of state takeovers and enjoy access to the vast reserves of Siberia.
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