Nobody downloaded yet

Legal Aspects of the Oil & Gas Industry - Essay Example

Comments (0) Cite this document
The paper “Legal Aspects of the Oil & Gas Industry” will present a judicial precedent in accordance with the decisions taken in the Iranian case and then will discuss in what ways it has affected the Libyan case and nationalization of the international oil corporations…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER93.8% of users find it useful
Legal Aspects of the Oil & Gas Industry
Read TextPreview

Extract of sample "Legal Aspects of the Oil & Gas Industry"

Download file to see previous pages The large multinational oil companies owing to their economies of scale as well as proper use of human capital have attained efficiency. But empirical evidence also reveals that nationalization of foreign assets hinders foreign investments and have resulted in the drop of output, national income for oil-dependent economies (Guriev, Kolotilin & Sonin, 2009, p.2). 2. Background Now with the nationalization of the international oil companies by the host countries many questions arise in the forefront. It can be questioned that whether the government of host countries achieves parity with the international oil companies while exercising their permanent sovereignty over the natural resources by nationalizing the operations of oil Companies who are exploring and exploiting oil and gas resources in their countries and thus bringing about socio-economic growth. The right of the host government for breaching terms of oil and gas transactions contracts between the countries and companies can be done at will which also questions the sanctity of contract in such cases. Libya and Iran are two oil-rich countries where nationalization of international oil companies have taken place with various legal problems where the International Court of Justice (ICJ) have intervened and have declared various decisions. The paper will present a judicial precedent in accordance with the decisions taken in the Iranian case and then will discuss in what ways it has affected the Libyan case. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Legal Aspects of the Oil & Gas Industry Essay Example | Topics and Well Written Essays - 3500 words”, n.d.)
Retrieved from
(Legal Aspects of the Oil & Gas Industry Essay Example | Topics and Well Written Essays - 3500 Words)
“Legal Aspects of the Oil & Gas Industry Essay Example | Topics and Well Written Essays - 3500 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Legal Aspects of the Oil & Gas Industry

Oil & Gas Operations Industry a strong competitive edge. Its large production operations reserves and diversity, possession of one of the largest E&P portfolios and its technological superiority are some of the benefits attributed to its efficiency and, which motivated me to invest with it. Chevron It is an American multinational energy Corporation with the presence in more than 180 nations. Its operations cover all aspects of gas, oil, and geothermal energy industries that include mining; refinement, marketing and transportation; sale and manufacture of chemicals; and also generation of power. Chevron is among the top 6 major oil companies. This being the largest...
12 Pages(3000 words)Research Paper

Lose Control in Gas and Oil Industry

...1. History of the Oil and Gas Industry Before the colonization of the New World, the Seneca Indians used to collect oily residue that they found on top of tailings in the northeast. They new that this triviality could be used to treat various ailments. The oil and gas sector of the current economy dates back to the early 19th century. Early European settlers gave little notice to oil seepages in western Pennsylvania and New York, up until the mid-1850’s. That is when scientists discovered that they could procure kerosene from the crude oil. For the most part, wells were initially hand dug, with salt producers of the time...
10 Pages(2500 words)Term Paper

Quality Assurance & Control in the Procurement Chain (Oil & Gas Industry)

...operations in the oil and gas companies largely depend on the suppliers and consumers related to various industries. Few of the common strategies adopted by the oil and gas companies in the UK are witnessed to be concerned with the contractual and partnership accord with the players in the supply chain of the organisation. However, this strategy to consider partnerships as a vital aspect to enhance efficiency in the supply chain management is subject to the legal formalities to a large extent (Bento, 2003). Evidences have further proved that “ chain in the oil and...
14 Pages(3500 words)Dissertation

United Kingdom Offshore Oil and Gas Industry

...and Climate Change Committee investigated many such aspects of environmental regulation. To a large extent it’s understood that the government has placed a high emphasis on moving to decarbonize the UK economy as a means of meeting the demands of climate change. Still, these measures are noted to occur in a dynamic context considering the strong revenue streams that are generated by the offshore oil and gas industry. Indeed, it’s noted that nearly 350,000 people are employed by the industry and immense tax revenues are generated by offshore oil and gas ("House of Commons Energy and Climate Change Committee," 2010). It...
3 Pages(750 words)Essay

Oil and Gas Management ineffective as the oil that has sunk still has impacts to the underwater sea lives. Since the floating oil has more impacts to water animals than the sinking oil, this method is used as a trade-off between the impacts noting that the oil spills afloat are much worse in consequences. Other commonly used procedures include burning, Sorbents, bioremediation techniques and shoreline clean-up procedures (Hocking, 2006, p.213). The figure below shows an oil-spill clean-up process: References Balson, T., Craddock, H. A., Dunlop, J. and Frampton, H. (2002).Chemistry in the OilIndustry VII. California: University...
6 Pages(1500 words)Essay

The oil and gas industry in China

...a business and stakeholders such as the board of directors, managers, and shareholders. Another reason that led to the plight of China’s oil and gas industry was the high governance standards set by foreign exchanges. China’s plight may have been averted. To start with, China government should have executed efficient corporate governance and guarantee that the oil and gas industry recognized it as a strategy for the government’s accountability to improve the legal, institutional and regular framework. Consequently, the corporations would ensure their operational performance and attract international capital in order to...
2 Pages(500 words)Case Study

The oil and gas industry in Canada

...Production Capa and Volume The oil and gas industry in Canada has been very important to its economy since the mid-19th century but many aspects of it have changed. Today, this industry provides hundreds of thousands of jobs for Canadians and contributes immensely to the national wealth and trade balance. Canada is ranked number six in the oil production countries in the world. An average of 438,000 cubic meters per day of crude oil, natural gas condensate and crude bitumen were produced in 2008 (National Energy Board, 2008). Of this amount produced, bitumen from oil sands was 49.5...
3 Pages(750 words)Research Paper

The Legal Policy In The Gas And Oil Industry

...The Legal Policy In The Gas And Oil Industry Table of Contents Table of Contents 1 Introduction 1 Implementation of Production-Sharing Agreements (PSAs) 3 Joint Ventures Agreement 5 Risk & Benefits Associated with Joint Venture Agreements 7 Legal Issues 8 Service Contracts 11 Critical Analysis 14 Conclusion 16 References 1 Introduction In relation to gas and oil industry, the legal provisions and the contractual agreements govern the production and distribution system of the same. Notably, there does not lay any consistent approach of contract, which can be commonly implemented by...
16 Pages(4000 words)Essay

Legal aspect of the gas and oil industry

...Product Sharing Agreement in the Oil & Gas Industry When it comes to allocating and managing risks in the Oil & Gas Industry, there are several ways in which both the host country and the international oil companies manage this. Discuss the different ways in which this is managed by the parties in a Product Sharing Agreement and comment on whether the status quo is satisfactory. The most popular contractual tool for managing risk and profit in oil exploration is the Product Sharing Agreement (PSA). It is the favoured system of the oil corporations (Muttitt, 2005). The agreement splits the...
8 Pages(2000 words)Coursework

Oil and gas industry

...Effect of the Oil and Gas Industry on the Environment The oil and gas sector is one of the leading industries across theglobe. Its revenues are enormous, so are the costs of giving the consumers with the energy they need. America consumes more than 19million oil barrels every daily (Scholastic and Crane 9). The oil and gas sector supplies more than 60 percents of the nation’s energy. It also plays a crucial part of the American economy. The U.S is among the leading producers of oil globally (Vassiliou 70). As of 2011, the sector accounted for 12.2 percent of the gross...
2 Pages(500 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Legal Aspects of the Oil & Gas Industry for FREE!

Contact Us