Reshaping international oil companies’ response mechanism to deal with the spectre of resource nationalism

Resource nationalism is building momentum across the oil-rich countries. A resource nationalism is a policy that emerged in the 20th century, the era of oil and decolonization. However, the recent wave of resource nationalism has led to a renewed discussion among researchers, policy makers, and various stakeholders. The oil-rich nations’ governments are consolidating ownership over strategically important oil resources. A recent Ernst and Young (2011) report has flagged the increasing spectre of resource nationalism as the number-one risk facing mining industries.