Hossain - Law and Policy in Petroleum Development

full all chapter5 chapter6 chapter7 chapter8 chapter9

chapter4 chapter5 chapter6 chapter7 chapter8 chapter9

Transparency and Accountability

Policy, Legal and Contractual Framework

Sector Organization and Institutions

Fiscal Design and Administration

Revenue Management and Distribution

Sustainable Development

Hossain, K., Law and Policy in Petroleum Development – Changing Relations between Transnationals and Governments (London: Frances Pinter Publishers Ltd, 1979)

This book examines the peculiar and emerging issues relating to the development of petroleum with the objective of providing useful information on developing issues in the field to legislators, policy-makers, administrators and negotiators in developing countries. The book is divided into six chapters. Chapter 1 considers the historical background of global petroleum development. Chapter 2 looks at the interests of multinational oil companies in exploration policy and performance, e.g. the rate and extent of exploration/development, transfer of skills and sharing of financial returns.

Chapter 3 considers policy objectives, options and strategies open to governments in the course of developing petroleum resources. Issues relating to corporate strategies and government options, assessment of geological prospects, demarcation and allocation of blocks are among the issues discussed.

The choice of legal mechanisms for the development of petroleum is considered in chapter 4. Whether to adopt a general legislative, individually negotiated or a hybrid system are considered along with the choice of legal instruments like joint venture, production sharing contracts and service contracts. In chapter 5 the author notes the financial provisions used in petroleum development arrangements such as discounted cash flow, rate of return and alternative fiscal and financial mechanisms to government take.

The book concludes in chapter 6 with a discussion of options and prospects for developing countries in petroleum development in the 1980s.

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