Definition: “IOC” is the acronym of International Oil Company and nominates the Oil & Gas companies which are privately owned and operate globally.
Comment: The most well-known “IOCs” are ExxonMobil, ChevronTexaco, BP, Shell, Total, ConocoPhillips. They are also called the “Major Companies” or simply the “Majors” as they are the biggest petroleum companies in the world and among the biggest of all the industries in term of revenues or capitalization.
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