Reflections on the law applicable to international oil contracts



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Otero García-Castrillón, Carmen (2013) Reflections on the law applicable to international oil contracts. Journal of World Energy Law and Business, 6 (3). pp. 1-34. ISSN Online ISSN 1754-9965 - Print ISSN 1754-9957

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Business activity in the hydrocarbon sector, involving the extraction of natural resources essential to maintain our modern lifestyle, begins with the negotiation of oil and gas exploration and exploitation contracts. Apart from the traditional role of the parties’ contractual autonomy, determining the legal regime of these contracts necessitates considering the role of international law, the development of oil sector-specific international rules (lex petrolea), and the impact of the imperative norms of national legal systems, especially in expropriation cases and in those situations in which investments or commercial transactions in a particular State are subject to limits or prohibitions relating to economic coercion measures.

Item Type:Article
Uncontrolled Keywords:oil contracts, applicable law, lex mercatoria, lex petrolea, imperative rules, economic coertion measures, expropriation, nationalization,
Subjects:Social sciences > Law > International law
Social sciences > Law > Private international law
Social sciences > Law > Commercial law
ID Code:20470
Deposited On:20 Mar 2013 08:40
Last Modified:07 Feb 2014 10:14

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