Public vs gov owned?

Question

What is the advantage and the disadvantage that big oil like Conoco, Exxonmobil and Chevron has compared with state owned companies like Petrobras, Petrochina and gazprom?

Answer 1

Advantage:

More efficiently run

Not subject to arbitrary rules by politicians (not as much)

Able to maneuver quicker than big slow, govt competitor

Not at whim to political favors such as hiring the president's nephew (other than to garner favor from politicians)

Owned and operated by individuals rather than tax money (mostly) which keeps the govt from crowding out the private sector

Disadvantage:

The foreign owned companies may be subject to price caps and therefore sell cheaper oil

The foreign company has the monetary backing of the govt and may have more resources

The foreign company may be monopoly or oligopoly in its market, blocking easy entry for competitors to the market and may also receive preferential treatment from the govt in the way of pricing, land deals, and infrastructure access