The Macrotheme Review A multidisciplinary journal of global macro trends The attributes of stakeholders regarding accounting for oil and gas upstream activities in Libya
Abstract The stakeholders of the financial statements information of oil and gas operating companies in Libya are different from developed countries such as the UK and the US. For instance, investors in developed market economies are one of the significant stakeholders of the financial statements information which help them in deciding how to invest their money . However, in Libya international oil and gas companies (IOCs) and national oil and gas companies (NOCs) do not have investors, because they are not listed in the Libyan Stock Market (LSM) (which was established in 2006). This is because NOCs are owned by the government and IOCs do not have shares in the LSE. Therefore, the difference in stakeholders due to the deference in their attributes (power, legitimacy and urgency). The research has sought to find out attributes of Libyan stakeholders regarding accounting for oil and gas upstream activities i
