 I'm Patrick Heller, I'm the Director of Legal and Economic Programs at the Natural Resource Governance Institute. Almost every country in the world that produces oil has some form of national oil company. There's two different sort of categories of national oil companies that have an impact in the developing world. The first are national oil companies from other countries that are operating within the domestic markets of countries in Africa, Asia and elsewhere. Where we tend to focus a lot of our energy are the other kind of national oil companies owned by, based in the oil producing country itself. Though there are quite a number of success stories, I would say a larger number of national oil companies have been unsuccessful. There is a tendency toward inefficiency. They are particularly prone to influence peddling, which in some cases can lead to corruption. What countries are starting to do more and more, but a lot of governments still haven't done it yet, is to look at companies from other countries that are still dealing with significant capacity constraints within government and to sort of see what can we learn from this. Oil is not going to dominate our economy, but it may be a significant portion of it. So let's look at the lessons learned from real, peer countries. I think the fundamental takeaways for governments in deciding how to govern their national oil companies are three. First, defining the role of the national oil company and its ambitions very carefully. And how will the state govern against or protect against conflicts of interest? So doing a real careful risk assessment and making decisions on the basis of that assessment are really important. Finally, really clear rules for who the national oil company reports to within government and the legislature, consistent reporting to the public and answering and responding to the concerns raised by the public. I think collectively these are the things that have set the most successful national oil companies apart from those that continue to struggle today.