National oil companies (NOCs) are expanding their influence in the oil and gas industry by establishing subsidiaries and other holding companies. However, managing large organizations can be challenging, and external factors such as market dynamics and low oil prices have led NOCs to reconsider their organization structures. Some NOCs organize themselves through business units, while others have separate legal entities for their subsidiaries. Establishing subsidiaries should be based on well-defined criteria, and there are multiple options for existing subsidiaries, including merging them into business units or privatizing them.
