International Petroleum Transactions

International Petroleum Transactions

Course Description

International Petroleum Transactions provides an opportunity to learn more about one of the world’s most interesting and controversial industries. The course deals with the laws and practices that shape the business of exploring for, developing, and producing oil and gas in countries other than the United States and the transportation and sale of that production in the world market. Along the way, the course surveys some of the typical petroleum laws of host countries, the extraterritorial effects of the laws of the home state of the multi-national oil company, and principles of international law that are applicable to issues in the petroleum industry.

More specifically, the course will examine the various ownership regimes used for mineral resources around the world; the international rules and practices governing the ownership and development of minerals within disputed territories; the rights of aboriginal peoples to mineral resources; the rights and duties of occupying military forces; the different procedural models used for the issuance of licenses and concessions to multi-national oil companies for exploration and development of petroleum resources within the host country; the basic forms and provisions of these international petroleum agreements; interaction with state oil companies; methods of, and legal issues affecting, international dispute resolution between foreign governments and international companies; the international law on expropriation and nationalization; contracts for joint operations among several companies designed to spread investment risk; applicable environmental laws and regulations, including the problem of disposing of offshore platforms; and international oil trading and shipping contracts.