BNOC

Upon completion of our course at Lackland, we went to Ft Benning and went through the US Army BNOC School.

Denny Roach Apology 2010

But, with the weakening oil price, BNOC found itself in the uncomfortable position of buying over a million barrels per day of oil at one price from North Sea operators and selling those same barrels at a lower price!

The Prize Daniel Yergin 2008

She saw no security reason to maintain BNOC, and in the spring of 1985 she simply abolished it.

The Prize Daniel Yergin 2008

“If BNOC, and by implication the British Government, were behaving like OPEC, who could expect OPEC to put an end to the oil price spiral?” asked one observer of the oil market.

The Prize Daniel Yergin 2008

Thus, BNOC had an important price-setting role in the world oil market, for it announced the prices at which it would buy and sell oil.

The Prize Daniel Yergin 2008

“If BNOC, and by implication the British Government, were behaving like OPEC, who could expect OPEC to put an end to the oil price spiral?” asked one observer of the oil market.

The Prize Daniel Yergin 2008

Thus, BNOC had an important price-setting role in the world oil market, for it announced the prices at which it would buy and sell oil.

The Prize Daniel Yergin 2008

The result was a significant loss for BNOC, and for the British Treasury.

The Prize Daniel Yergin 2008

She saw no security reason to maintain BNOC, and in the spring of 1985 she simply abolished it.

The Prize Daniel Yergin 2008

The elimination of BNOC removed one more important prop from the OPEC price; it was another victory for the market.

The Prize Daniel Yergin 2008