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70-455: Orano SA is a French multinational nuclear fuel cycle corporation headquartered in Châtillon, Hauts-de-Seine . The company is engaged in uranium mining , conversion-enrichment, spent fuel recycling , nuclear logistics, dismantling , and nuclear cycle engineering activities. It was created in 2017 as a result of restructuring and recapitalizing of the nuclear conglomerate Areva . Orano

140-766: A basis in a national ethos , being ultimate without a specific nationhood, and that this lack of an ethos appears in their ways of operating as they enter into contracts with countries that have low human rights or environmental standards . In the world economy facilitated by multinational corporations, capital will increasingly be able to play workers, communities, and nations off against one another as they demand tax, regulation and wage concessions while threatening to move. In other words, increased mobility of multinational corporations benefits capital while workers and communities lose. Some negative outcomes generated by multinational corporations include increased inequality , unemployment , and wage stagnation . Raymond Vernon presents

210-508: A corporation invests in a country in which it is not domiciled, it is called foreign direct investment (FDI). Countries may place restrictions on direct investment; for example, China has historically required partnerships with local firms or special approval for certain types of investments by foreigners, although some of these restrictions were eased in 2019. Similarly, the United States Committee on Foreign Investment in

280-429: A free market system where there is little government interference. As a result, international wealth is maximized with free exchange of goods and services. To many economic liberals, multinational corporations are the vanguard of the liberal order. They are the embodiment par excellence of the liberal ideal of an interdependent world economy. They have taken the integration of national economies beyond trade and money to

350-1000: A joint venture with Kazatomprom named Katco. In Niger, Orano operates two mines near in Arlit , in northern Niger , and is also developing the Imouraren project situated 80 kilometres (50 mi) from Arlit. In addition, it owns the mothballed Trekkopje mine in Namibia, together with the Desalination Plant near Swakopmund . In Gabon, it owns the site of former Mounana uranium mine where mining activities were carried out between 1961 and 1999. The conversion and enrichment operations are carried out in Malvési and Tricastin sites in France. Nuclear material transport and storage services are provided through Orano TN subsidiary. In 2017

420-490: A million troops to help, and by February 1991, Iraqi forces were expelled from Kuwait. Due to the oil boycott from Kuwait and Iran, oil prices rose and quickly recovered. Saudi Arabia once again led OPEC, and thanks to assistance in defending Kuwait, new relations emerged between the USA and OPEC. Operation "Desert Storm" brought mutual dependence among the main oil producers. OPEC continued to influence global oil prices but recognized

490-532: A new fuel cycle company, dubbed as New Co or New Areva. The new company combined Areva Mines, Areva NC , Areva Projects, and Areva Business Support companies. It was created as a wholly owned subsidiary of Areva; however, Areva lost control over the company as the French government invested to recapitalize the company. On 23 January 2018 the company changed its name to Orano. In February 2018, Japan Nuclear Fuel Limited and Mitsubishi Heavy Industries took 5% stakes in

560-411: Is active in all stages of the nuclear fuel cycle; Orano Mining, which is active in mining activities, including exploration, extraction, and processing of uranium ore, Orano Med which focuses on the development of therapies to fight cancer; Orano TN, which deals with the transport of nuclear materials; and Orano Projects, which is responsible for the fuel cycle engineering. As of December 2022, Orano

630-584: Is involved in mechanical engineering and manufactures special equipment, relating to the nuclear fuel cycle, as well as serving external customers in the aerospace and defense sectors. In at least one case Orano has been contracted for feasibility studies. Orano's subsidiary Orano Med deals with nuclear medicine , including the development of therapies to fight cancer. It has laboratories in Bessines-sur-Gartempe , France, and Plano, Texas , United States. Multinational corporation Most of

700-454: Is majority owned by the French state. As of September 2021, Orano is the second largest uranium producer in the world with 9% share in global uranium production. The name Orano is derived from Ouranos , the Greek god, and it refers to uranium. The company's circular yellow logo refers to yellowcake uranium concentrate and to the nuclear fuel cycle. Orano dates back to 1976 when based on

770-410: Is often handled through international arbitration . The actions of multinational corporations are strongly supported by economic liberalism and free market system in a globalized international society. According to the economic realist view, individuals act in rational ways to maximize their self-interest and therefore, when individuals act rationally, markets are created and they function best in

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840-460: Is subject of ongoing discussions. The European Commissioner Andris Piebalgs may send inspectors to the sites to investigate recent events further. Other implications following the incidents resulted in a drop in the sale of wines from the Tricastin area. Acting on the wishes of the wine growers to change the name of the appellation to something without "Tricastin", to avoid being associated with

910-514: Is the third largest uranium producer in the world with 11% share in global uranium production. Orano operates uranium production sites in Canada , Kazakhstan , and Niger (the monopoly has been prorogated until 2040). The operations of Orano Canada include interests in the McClean Lake uranium mill , Cigar Lake mine, McArthur River mine , and Key Lake uranium mill. In Kazakhstan, Orano has

980-635: Is transported by train to the reprocessing plant, just as the new fuel is transported to the plant by train. Tests on 2 July 2004 by the Autorité de sûreté nucléaire (Nuclear Safety Authority) found that it would take 37 minutes to respond to a fire. In its initial report following the 1999 Blayais Nuclear Power Plant flood , the Institute for Nuclear Protection and Safety (now part of the Radioprotection and Nuclear Safety Institute ) called for

1050-865: Is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. MNCs may gain from their global presence in a variety of ways. First of all, MNCs can benefit from the economy of scale by spreading R&D expenditures and advertising costs over their global sales, pooling global purchasing power over suppliers, and utilizing their technological and managerial experience globally with minimal additional costs. Furthermore, MNCs can use their global presence to take advantage of underpriced labor services available in certain developing countries and gain access to special R&D capabilities residing in advanced foreign countries. The problem of moral and legal constraints upon

1120-848: The Dutch East India Company (VOC) founded in 1602. In addition to carrying on trade between Great Britain and its colonies, the British East India Company became a quasi-government in its own right, with local government officials and its own army in India. Other examples include the Swedish Africa Company founded in 1649 and the Hudson's Bay Company founded in 1670. These early corporations engaged in international trade and exploration and set up trading posts. The Dutch government took over

1190-645: The Gard (30) and Ardèche (07) departments, and lies near the communes of Saint-Paul-Trois-Châteaux , Pierrelatte (both Drôme department), Bollène and Lapalud (both Vaucluse Department). Tricastin is one of the most important nuclear technology sites in the world, along with the COGEMA La Hague site . It is spread out over 600 hectares with over 5000 employees. Some of the involved companies are: A small number of facilities in Pierrelatte belong to

1260-565: The International Nuclear Event Scale . In July 2008, approximately 100 employees were exposed to radioactive particles that escaped from a pipe in a reactor that had been shut down. Additionally, a nuclear waste leak that apparently had remained undiscovered since 2005 spilled into a concrete protective shell in Romans-sur-Isere. Areva , who owns the site, ensured that the leak had not caused harm to

1330-546: The Marcoule Nuclear Site . The site houses 4 pressurized water reactors (PWR) of 915 MW each, which were built mostly in the 1970s and brought online in the early 80s. These reactors produce about 25 TWh/year, or 6% of France's electricity. Three out of four reactors were used for powering the Eurodif Uranium enrichment factory until 2012, the year that Eurodif was closed. The close proximity of

1400-670: The 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from the Spanish government. Rio Tinto, now based in London and Melbourne , Australia, has made many acquisitions and expanded globally to mine aluminum , iron ore , copper , uranium , and diamonds . European mines in South Africa began opening in the late 19th century, producing gold and other minerals for

1470-551: The English language. Senior officials, although mostly still Swedish, all learned English and all major internal documents were in English, the lingua franca of multinational corporations. After the war, the number of businesses having at least one foreign country operation rose drastically from a few thousand to 78,411 in 2007. Meanwhile, 74% of parent companies are located in economically advanced countries. Developing and former communist countries such as China, India, and Brazil are

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1540-575: The International Energy Agency (IEA), enabling states to coordinate policy, gather data, and monitor global oil reserves. In the 1970s, OPEC gradually nationalized the Seven Sisters. The Kingdom of Saudi Arabia, as the only largest world oil producer, could leverage this. However, Saudi Arabia opted for the correct approach and maintained consistent oil prices throughout the 1970s. In 1979, the "second oil shock" came from

1610-664: The NUHOMS Matrix advanced used nuclear fuel storage overpack, a high-density system for storing multiple spent fuel rods in canisters, was launched. Orano provides nuclear recycling activities at the La Hague and Melox sites in France. Orano provides nuclear fuel cycle engineering services through its subsidiary Orano Projects. Its engineering sites are located in Equeurdreville , Saint-Quentin-en-Yvelines , and Bagnols-sur-Cèze , France. The subsidiary Orano Temis

1680-574: The Netherlands has become a popular choice, as its company laws have fewer requirements for meetings, compensation, and audit committees, and Great Britain had advantages due to laws on withholding dividends and a double-taxation treaty with the United States. Corporations can legally engage in tax avoidance through their choice of jurisdiction but must be careful to avoid illegal tax evasion . Corporations that are broadly active across

1750-558: The OLI framework. The other theoretical dimension of the role of multinational corporations concerns the relationship between the globalization of economic engagement and the culture of national and local responses. This has a history of self-conscious cultural management going back at least to the 60s. For example: Ernest Dichter, architect, of Exxon's international campaign, writing in the Harvard Business Review in 1963,

1820-464: The Third World colonies. That changed dramatically after 1945 as investors turned to industrialized countries and invested in manufacturing (especially high-tech electronics, chemicals, drugs, and vehicles) as well as trade. Sweden's leading manufacturing concern was SKF , a leading maker of bearings for machinery. In order to expand its international business, it decided in 1966 it needed to use

1890-636: The U.S. applies its corporate taxation "extraterritorially", which has motivated tax inversions to change the home state. By 2019, most OECD nations, with the notable exception of the U.S., had moved to territorial tax in which only revenue inside the border was taxed; however, these nations typically scrutinize foreign income with controlled foreign corporation (CFC) rules to avoid base erosion and profit shifting . In practice, even under an extraterritorial system, taxes may be deferred until remittance, with possible repatriation tax holidays , and subject to foreign tax credits . Countries generally cannot tax

1960-541: The United States sanctions against Iran ; European companies faced with the possibility of losing access to the U.S. market by trading with Iran. International investment agreements also facilitate direct investment between two countries, such as the North American Free Trade Agreement and most favored nation status. Raymond Vernon reported in 1977 that of the largest multinationals focused on manufacturing, 250 were headquartered in

2030-506: The United States scrutinizes foreign investments. In addition, corporations may be prohibited from various business transactions by international sanctions or domestic laws. For example, Chinese domestic corporations or citizens have limitations on their ability to make foreign investments outside China, in part to reduce capital outflow . Countries can impose extraterritorial sanctions on foreign corporations even for doing business with other foreign corporations, which occurred in 2019 with

2100-614: The United States as the largest consumer and guarantor of the existing oil security order. Since the Iraq War, OPEC has had only a minor influence on oil prices, but it has expanded to 11 members, accounting for about 40 percent of total global oil production, although this is a decline from nearly 50 percent in 1974. Oil has practically become a common commodity, leading to much more volatile prices. Most OPEC members are wealthy, and most remain dependent on oil revenues, which has serious consequences, such as when OPEC members were pressured by

2170-461: The United States from 2010. The USA became the leading oil producer, creating tension with OPEC. In 2014, Saudi Arabia increased production to push new American producers out of the market, leading to lower prices. OPEC then reduced production in 2016 to raise prices, further worsening relations with the United States. By 2012, only 7% of the world's known oil reserves were in countries that allowed private international companies free rein; 65% were in

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2240-629: The United States, 115 in Western Europe, 70 in Japan, and 20 in the rest of the world. The multinationals in banking numbered 20 headquartered in the United States, 13 in Europe, nine in Japan and three in Canada. Today multinationals can select from a variety of jurisdictions for various subsidiaries, but the ultimate parent company can select a single legal domicile ; The Economist suggests that

2310-766: The VOC in 1799, and during the 19th century, other governments increasingly took over private companies, most notably in British India. During the process of decolonization , the European colonial charter companies were disbanded, with the final colonial corporation, the Mozambique Company , dissolving in 1972. Mining of gold, silver, copper, and oil was a major activity early on and remains so today. International mining companies became prominent in Britain in

2380-507: The West to the post-colonial South and invest either in foreign expenditures or ostentatious economic development projects. After 1974, most of the money from OPEC members ceased as payments for goods and services or investments in Western industry. In February 1974, the first Washington Energy Conference was convened. The most significant contribution of this conference was the establishment of

2450-469: The behavior of multinational corporations, given that they are effectively "stateless" actors, is one of several urgent global socioeconomic problems that has emerged during the late twentieth century. Potentially, the best concept for analyzing society's governance limitations over modern corporations is the concept of "stateless corporations". Coined at least as early as 1991 in Business Week ,

2520-742: The collapse of the Shah's regime in Iran. Iran became a regional power due to oil money and American weapons. The Shah eventually abdicated and fled the country. This prompted a strike by thousands of Iranian oil workers, significantly reducing oil production in Iran. Saudi Arabia tried to cope with the crisis by increasing production, but oil prices still soared, leading to the "second oil shock." Saudi Arabia significantly reduced oil production, losing most of its revenues. In 1986, Riyadh changed course, and oil production in Saudi Arabia sharply increased, flooding

2590-654: The companies. This occurred in 1960. Prior to the 1973 oil crisis , the Seven Sisters controlled around 85 percent of the world's petroleum reserves . In the 1970s, most countries with large reserves nationalized their reserves that had been owned by major oil companies. Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies, such as Saudi Aramco , Gazprom (Russia), China National Petroleum Corporation , National Iranian Oil Company , PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). A unilateral increase in oil prices

2660-910: The company each. In September 2018, the United States Nuclear Regulatory Commission terminated the license of Orano to construct the Eagle Rock Enrichment Facility, which was to be built in Bonneville County, Idaho . The project had been suspended since December 2011. At the same time Orano opened the Philippe Coste uranium conversion plant in France. Orano is engaged in uranium mining, conversion and enrichment, spent fuel recycling, nuclear logistics, dismantling, and nuclear cycle engineering activities. Its main subsidiaries include Orano Cycle , COGEMA and Areva NC, which

2730-510: The conception was theoretically clarified in 1993: that an empirical strategy for defining a stateless corporation is with analytical tools at the intersection between demographic analysis and transportation research. This intersection is known as logistics management , and it describes the importance of rapidly increasing global mobility of resources. In a long history of analysis of multinational corporations, we are some quarter-century into an era of stateless corporations—corporations that meet

2800-643: The creation of a "world customer". The idea of a global corporate village entailed the management and reconstitution of parochial attachments to one's nation. It involved not a denial of the naturalness of national attachments, but an internationalization of the way a nation defines itself. "Multinational enterprise" (MNE) is the term used by international economist and similarly defined with the multinational corporation (MNC) as an enterprise that controls and manages production establishments, known as plants located in at least two countries. The multinational enterprise (MNE) will engage in foreign direct investment (FDI) as

2870-487: The current largest and most influential companies are publicly traded multinational corporations, including Forbes Global 2000 companies. The history of multinational corporations began with the history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were the British East India Company founded in 1600 and

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2940-662: The debate from a neo-liberal perspective in Storm over the Multinationals (1977). Tricastin Nuclear Power Plant#Tricastin Nuclear Site The Tricastin Nuclear Power Plant (French: Centrale Nucléaire du Tricastin ) is a nuclear power plant consisting of 4 pressurized water reactors (PWRs) of CP1 type with 915 MW electrical power output each. The power plant is located in

3010-458: The environment, but the issue sparked discussion about an old French army terrain, where nuclear waste was deposited in shielded dumps. The layer of dirt covering the waste is reported to have been thinned due to wind and rain erosion, directly exposing nuclear waste material to open air. Also, the speed with which the Tricastin incident was reported to the Autorité de sûreté nucléaire (8 hours) and subsequently to local authorities (another 6 hours)

3080-481: The firm makes direct investments in host country plants for equity ownership and managerial control to avoid some transaction costs . Sanjaya Lall in 1974 proposed a spectrum of scholarly analysis of multinational corporations, from the political right to the left. He put the business school how-to-do-it writers at the extreme right, followed by the liberal laissez-faire economists, and the neoliberals (they remain right of center but do allow for occasional mistakes of

3150-416: The hands of state-owned companies that operated in one country and sold oil to multinationals such as BP, Shell, ExxonMobil and Chevron. Down through the 1930s, about 80% of the international investments by multinational corporations were concentrated in the primary sector, especially mining (especially oil) and agriculture (rubber, tobacco, sugar, palm oil , coffee, cocoa, and tropical fruits). Most went to

3220-576: The international oil market. Iran was unable to sell any of its oil. In August 1953, the then-prime minister was overthrown by a pro-American dictatorship led by the Shah, and in October 1954, the Iranian industry was denationalized. Worldwide oil consumption increased rapidly between 1949 and 1970, a period known as the 'golden age of oil'. This increase in consumption was caused not only by the growth of production by multinational oil companies but also by

3290-415: The internationalization of production. For the first time in history, production, marketing, and investment are being organized on a global scale rather than in terms of isolated national economies. International business is also a specialist field of academic research. Economic theories of the multinational corporation include internalization theory and the eclectic paradigm . The latter is also known as

3360-460: The largest recipients. However, 70% of foreign direct investment went into developed countries in the form of stocks and cash flows. The rise in the number of multinational companies could be due to a stable political environment that encourages cooperation, advances in technology that enable management of faraway regions, and favorable organizational development that encourages business expansion into other countries. A multinational corporation (MNC)

3430-474: The laws and regulations of both their domicile and the additional jurisdictions where they are engaged in business. In some cases, the jurisdiction can help to avoid burdensome laws, but regulatory statutes often target the "enterprise" with statutory language around "control". As of 1992 , the United States and most OECD countries have the donot legal authority to tax a domiciled parent corporation on its worldwide revenue, including subsidiaries. As of 2019 ,

3500-494: The market with cheap oil. This caused a worldwide drop in oil prices, hence the "third oil shock" or "counter-shock." However, this shock represented something much bigger—the end of OPEC's dominance and its control over oil prices. Iraqi President Saddam Hussein decided to attack Kuwait. The invasion sparked a crisis in the Middle East, prompting Saudi Arabia to request assistance from the United States. The United States sent

3570-543: The marketplace such as externalities). Moving to the left side of the line are nationalists, who prioritize national interests over corporate profits, then the "dependencia" school in Latin America that focuses on the evils of imperialism, and on the far left the Marxists. The range is so broad that scholarly consensus is hard to discern. Anti-corporate advocates criticize multinational corporations for being without

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3640-495: The maximum temperature of 27 °C from the piping of waste heat water into the canal was exceeded on several occasions, totalling about 44 hours. In July 2008, 18,000 litres (4,755 gallons) of uranium solution containing natural uranium were accidentally released on the Tricastin Nuclear Site. Due to cleaning and repair work the containment system for a uranium solution holding tank was not functional when

3710-617: The nuclear power plant, in June 2010, INAO signalled its intention to allow a name change from Coteaux du Tricastin AOC to Grignan-Les Adhemar effective from the 2010 vintage. On 15 February 2007 the Le Soir newspaper announced that Suez was considering building a new European Pressurized Reactor at the Tricastin site, but the claim was denied by the SUEZ group. The Tricastin region where

3780-455: The power source and usage of the power allowed for smaller transmission losses to occur, which was done at 225 kV. The replacement of the Eurodif gas-diffusion plant by the new SET gas-centrifuge plant (also located at the Tricastin site) reduced the energy consumption of the uranium enrichment process by a factor of 50, freeing up approximately 2700 MWe for the French national grid. Spent fuel

3850-560: The price collapse in 1998–1999. The United States still maintains close relations with Saudi Arabia. In 2003, U.S. forces invaded Iraq with the aim of removing the dictatorship and gaining access to Iraqi oil reserves, giving the United States greater strategic importance from 2000 to 2008. During this period, there was a constant shortage of oil, but its consumption continued to rise, maintaining high prices and leading to concerns about "peak oil". From 2005 to 2012, there were advances in oil and gas extraction, leading to increased production in

3920-537: The production division of the French Alternative Energies and Atomic Energy Commission (CEA), the Compagnie générale des matières nucléaires (COGEMA, now Orano Cycle ) was created. In 2001, COGEMA was merged with Framatome and CEA Industrie  [ fr ] to form Areva . In 2016, due to financial difficulties, Areva initiated a restructuring process. As part of this, it created

3990-611: The realities of the needs of source materials on a worldwide basis and to produce and customize products for individual countries. One of the first multinational business organizations, the East India Company , was established in 1601. After the East India Company came the Dutch East India Company , founded on March 20, 1603, which would become the largest company in the world for nearly 200 years. The main characteristics of multinational companies are: When

4060-601: The releases were initially higher, up to 360 kg of natural uranium, but lowered later. Ground and surface water tests indicated that levels of radioactivity were 5% higher than the maximum rate allowed. In the near vicinity and above ground, the local watchdog group CRIIRAD has detected unusually high levels of radiation. French authorities banned the use of water from the Gaffière and Lauzon for drinking and watering of crops. Swimming, water sports and fishing were also banned. This incident has been classified as Level 1 on

4130-433: The risk of flooding at Tricastin to be re-examined due to the presence of the canal. From 27 September 2017 to December 2017 the reactors were temporary shutdown while repairs to the canal embankment were made. The regulator Autorité de sûreté nucléaire (ASN) had ordered the temporary shutdown because of the risk of embankment failure in the event of an earthquake. During the 2003 European heat wave from 12 to 22 July,

4200-597: The site. The Tricastin Nuclear Site (Site Nucléaire du Tricastin) is a collection of facilities run by Areva and EDF located on right bank of the Channel of Donzère-Mondragon (diversion canal of the Rhône River) south of the city of Valence (70 km upstream) and north of Avignon (65 km downstream). The site straddles the border between the departments Drôme (26) and Vaucluse (84), not far from

4270-619: The south of France ( Drôme and Vaucluse Department) at the Canal de Donzère-Mondragon near the Donzère-Mondragon Dam and the commune Pierrelatte . The power plant is part of the widespread Tricastin Nuclear Site (see below), which was named after the historic Tricastin region. Three out of the four reactors on the site had been used until 2012 to power the Eurodif Uranium enrichment plant, which had been located on

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4340-501: The strong influence of the United States on the global oil market. In 1959, companies lowered the price of oil due to a surplus in the market. This reduction dealt a significant blow to the finances of producers. Saudi oil minister Abdullah Tariki and Venezuela’s Juan Perez Alfonso entered into a secret agreement (the Mahdi Pact), promising that if the price of oil was lowered a second time, they would take collective action against

4410-406: The tank filled. The inflow exceeded the tank's capacity and 30 cubic metres of uranium solution leaked with 18 cubic metres spilled to the ground. Testing found elevated uranium levels in the nearby rivers Gaffière and Lauzon. The liquid that escaped to the ground contained about 75 kg of unenriched uranium which is toxic as a heavy metal while possessing only slight radioactivity. Estimates for

4480-496: The world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902) was one of the few businessmen in the era who became Prime Minister (of South Africa 1890–1896). His mining enterprises included the British South Africa Company and De Beers . The latter company practically controlled the global diamond market from its base in southern Africa. In 1945, the United States

4550-573: The world without a concentration in one area have been called stateless or "transnational" (although "transnational corporation" is also used synonymously with "multinational corporation" ), but as of 1992, a corporation must be legally domiciled in a particular country and engage in other countries through foreign direct investment and the creation of foreign subsidiaries. Geographic diversification can be measured across various domains, including ownership and control, workforce, sales, and regulation and taxation. Multinational corporations may be subject to

4620-503: The worldwide revenue of a foreign subsidiary, and taxation is complicated by transfer pricing arrangements with parent corporations. For small corporations, registering a foreign subsidiary can be expensive and complex, involving fees, signatures, and forms; a professional employer organization (PEO) is sometimes advertised as a cheaper and simpler alternative, but not all jurisdictions have laws accepting these types of arrangements. Disputes between corporations in different nations

4690-438: Was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for the seven multinational companies that dominated the global petroleum industry from the mid-1940s to the mid-1970s. The nationalization of the Iranian oil industry in 1951 by Iranian Prime Minister Mohammad Mosaddegh and the subsequent boycott of Iranian oil by all companies had dramatic consequences for Iran and

4760-448: Was fully aware that the means to overcoming cultural resistance depended on an "understanding" of the countries in which a corporation operated. He observed that companies with "foresight to capitalize on international opportunities" must recognize that " cultural anthropology will be an important tool for competitive marketing". However, the projected outcome of this was not the assimilation of international firms into national cultures, but

4830-546: Was labeled as "the largest nonviolent transfer of wealth in human history." The OPEC sought immediate discussions regarding participation in national oil industries. Companies were not inclined to object as the price hike benefited both them and OPEC members. In 1980, the Seven Sisters were entirely displaced and replaced by national oil companies (NOCs). The rise in oil prices burdened developing countries with balance of payments deficits, leading to an energy crisis. OPEC members had to abandon their plan of redistributing wealth from

4900-513: Was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore, the United States turned to foreign oil sources, which had a significant impact on the recovery of the West after World War II. Most of the world's oil was found in Latin America and the Middle East, particularly in the Arab states of the Persian Gulf. This increase in non-American production

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