International Petroleum Transactions

• Semester: Spring 2025
• Course ID: 382F
• Credit Hours: 3
• Unique: 28905

Description

Course content and description: International Petroleum Transactions considers the legal issues and transactions relating to the exploration, production, and marketing of petroleum—the most important commodity traded worldwide and hence the most politically charged. Coverage includes how countries establish and allocate sovereignty over petroleum, how countries settle competing claims to oil and gas reserves, how host governments or state-owned oil companies contract with private companies to explore and develop oil and gas resources, how companies contract with each other to share risk, how companies contract with drilling contractors and services providers; how petroleum is marketed; and how disputes are resolved. The course offers a unique mix of both public and international private law.

Professor's goals: Help students develop better analytical skills--especially the ability to critically evaluate contracts and host government law. Help students gain a basic understanding of how crude oil and gas are exploited and marketed worldwide. Help students learn about the unique aspects of acquiring valid exploration and development rights in a foreign country, about pursuing those rights, and the legal ramifications of, and risks associated with, an upstream petroleum investment in a foreign country.

Prerequisites, co-requisites, and sequencing: None.

Course requirements: Regular class attendance, class preparation, and participation (including thoughtful responses to questions posed).

Materials: Anderson, Weaver et al., International Petroleum Transactions (RMMLF [FNREL] 2020). Additiona materials will be posted on Canvas.