How can the major European oil and gas companies continue to be competitive? A comparative analysis between 2000 and 2008

Abstract

This paper uses the resource-based view (RBV) of the firm to analyse the performance of the major European oil and gas companies between 2000 and 2008. This period covers a relatively stable era in the oil and gas industry, just after the intense merger activities and consolidations in the industry in the late 1990s and just before the collapse of oil prices at the onset of the global financial crisis in late 2008. This study uses comparative research methodology and data from the Energy Intelligence database to analyse the performance of the major European oil and gas companies in the context of both property and knowledge-based resources. New arguments put forward include the view that these oil and gas companies should focus on developing their knowledge-based resources, both knowledge creation and knowledge application, in order to maintain and improve competitiveness in the long run.