companies buy and sell oil not 'countries', correct? Nations lease and sell drilling rights to oil, but pruvate companies like exxon/mobil, royal dutch shell, bp, aramco, etc bring it up, refine, transport and sell it, right?
Then how does a country ask another country for oil? Please explain.
It appears that multinational corporations run the oil business, in which they have rughts ti the fields, but the oil they bring up is there's.
And after that, isn't it sold on the open market to and between oil companies, and not nation states? If so, how does a country decide who to buy/sell to? Is it not up to the descretion of the companies? How does a country become 'energy independant' re:oil when it already has long term drilling and exploration licenses and exploration rights with these oil companies whn then buy/sell/trade on a global market?
Please explain to a 5 year old