The law applicable to Petrolume contract
Autor(a) principal: | |
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Data de Publicação: | 2020 |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/11328/3175 https://doi.org/10.47277/JETT/8(3)1246. |
Resumo: | As the oil industry is the largest industry in the world, and with the oil contract as the object of these activities, it is imperative to discern some of the issues surrounding it. Producing countries intend to maximize profits from the exploitation of their natural wealth, while consuming countries want to guarantee supply at the lowest possible price. It is important to understand the focus of conflicts in this sector.These are linked, on the one hand, to the need for oil, the decrease in new reserves and the increase in its exploitation. Onthe other hand, we have the political instability of the producing countries, the disrespect for the environment and social rights of the population on the producing States. This contract has the State and the investor as protagonists. They are often concluded under the aegis of bilateral or multilateral investment agreements between the producer country and the investor's country of origin. Since they are strategic natural resources, the producing State seeks to safeguard the interests of its population. Thus, it is common to include special clauses, maximestabilization clauses and arbitration clauses. In its regulation, whether in the negotiation or conclusion stages of the contract or even in the dispute resolution phase, an appeal to International Commercial Law is required, covering both UNIDROIT principles and Lex mercatoria, configured here in Lex Petrolia. |
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The law applicable to Petrolume contractAgreementClausesConflictsLex PetroliaRegulationAs the oil industry is the largest industry in the world, and with the oil contract as the object of these activities, it is imperative to discern some of the issues surrounding it. Producing countries intend to maximize profits from the exploitation of their natural wealth, while consuming countries want to guarantee supply at the lowest possible price. It is important to understand the focus of conflicts in this sector.These are linked, on the one hand, to the need for oil, the decrease in new reserves and the increase in its exploitation. Onthe other hand, we have the political instability of the producing countries, the disrespect for the environment and social rights of the population on the producing States. This contract has the State and the investor as protagonists. They are often concluded under the aegis of bilateral or multilateral investment agreements between the producer country and the investor's country of origin. Since they are strategic natural resources, the producing State seeks to safeguard the interests of its population. Thus, it is common to include special clauses, maximestabilization clauses and arbitration clauses. In its regulation, whether in the negotiation or conclusion stages of the contract or even in the dispute resolution phase, an appeal to International Commercial Law is required, covering both UNIDROIT principles and Lex mercatoria, configured here in Lex Petrolia.2020-09-02T16:19:43Z2020-09-022020-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfMimoso, M. J. (2020). The law applicable to petrolume contract. Journal of Environmental Treatment Techniques, 8(3), 2020, (pp. 1242-1246). DOI: https://doi.org/10.47277/JETT/8(3)1246. Disponível no Repositório em: http://hdl.handle.net/11328/3175http://hdl.handle.net/11328/3175Mimoso, M. J. (2020). The law applicable to petrolume contract. Journal of Environmental Treatment Techniques, 8(3), 2020, (pp. 1242-1246). DOI: https://doi.org/10.47277/JETT/8(3)1246. Disponível no Repositório em: http://hdl.handle.net/11328/3175http://hdl.handle.net/11328/3175https://doi.org/10.47277/JETT/8(3)1246.eng2309-1185http://creativecommons.org/licenses/by/4.0/info:eu-repo/semantics/openAccessMimoso, Maria Joãoreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-11-16T02:16:03Zoai:repositorio.upt.pt:11328/3175Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T22:42:20.331906Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
The law applicable to Petrolume contract |
title |
The law applicable to Petrolume contract |
spellingShingle |
The law applicable to Petrolume contract Mimoso, Maria João Agreement Clauses Conflicts Lex Petrolia Regulation |
title_short |
The law applicable to Petrolume contract |
title_full |
The law applicable to Petrolume contract |
title_fullStr |
The law applicable to Petrolume contract |
title_full_unstemmed |
The law applicable to Petrolume contract |
title_sort |
The law applicable to Petrolume contract |
author |
Mimoso, Maria João |
author_facet |
Mimoso, Maria João |
author_role |
author |
dc.contributor.author.fl_str_mv |
Mimoso, Maria João |
dc.subject.por.fl_str_mv |
Agreement Clauses Conflicts Lex Petrolia Regulation |
topic |
Agreement Clauses Conflicts Lex Petrolia Regulation |
description |
As the oil industry is the largest industry in the world, and with the oil contract as the object of these activities, it is imperative to discern some of the issues surrounding it. Producing countries intend to maximize profits from the exploitation of their natural wealth, while consuming countries want to guarantee supply at the lowest possible price. It is important to understand the focus of conflicts in this sector.These are linked, on the one hand, to the need for oil, the decrease in new reserves and the increase in its exploitation. Onthe other hand, we have the political instability of the producing countries, the disrespect for the environment and social rights of the population on the producing States. This contract has the State and the investor as protagonists. They are often concluded under the aegis of bilateral or multilateral investment agreements between the producer country and the investor's country of origin. Since they are strategic natural resources, the producing State seeks to safeguard the interests of its population. Thus, it is common to include special clauses, maximestabilization clauses and arbitration clauses. In its regulation, whether in the negotiation or conclusion stages of the contract or even in the dispute resolution phase, an appeal to International Commercial Law is required, covering both UNIDROIT principles and Lex mercatoria, configured here in Lex Petrolia. |
publishDate |
2020 |
dc.date.none.fl_str_mv |
2020-09-02T16:19:43Z 2020-09-02 2020-01-01T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
Mimoso, M. J. (2020). The law applicable to petrolume contract. Journal of Environmental Treatment Techniques, 8(3), 2020, (pp. 1242-1246). DOI: https://doi.org/10.47277/JETT/8(3)1246. Disponível no Repositório em: http://hdl.handle.net/11328/3175 http://hdl.handle.net/11328/3175 Mimoso, M. J. (2020). The law applicable to petrolume contract. Journal of Environmental Treatment Techniques, 8(3), 2020, (pp. 1242-1246). DOI: https://doi.org/10.47277/JETT/8(3)1246. Disponível no Repositório em: http://hdl.handle.net/11328/3175 http://hdl.handle.net/11328/3175 https://doi.org/10.47277/JETT/8(3)1246. |
identifier_str_mv |
Mimoso, M. J. (2020). The law applicable to petrolume contract. Journal of Environmental Treatment Techniques, 8(3), 2020, (pp. 1242-1246). DOI: https://doi.org/10.47277/JETT/8(3)1246. Disponível no Repositório em: http://hdl.handle.net/11328/3175 |
url |
http://hdl.handle.net/11328/3175 https://doi.org/10.47277/JETT/8(3)1246. |
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eng |
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2309-1185 |
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http://creativecommons.org/licenses/by/4.0/ |
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openAccess |
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application/pdf |
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