Fact or fiction: harmonising and unifying legal principles of local content requirements

Asiago, Berryl Claire

doi:10.1080/02646811.2016.1183431

Cited by 7 publications

(1 citation statement)

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“…This did not actually materialize in practice, as most subsoil users kept purchasing Kazakh goods or services at their discretion. In turn, the government introduced the "Law of Subsoil and Subsoil Use" making LC purchases obligatory, and ever since almost all subsoil users have carried out their procurement under the state-regulated procedure [45]. Furthermore, in Nigeria, the government initially opted for an LC policy introduced in the year 2006.…”

Section: Substantive Petroleum Lawmentioning

confidence: 99%

Rules of Engagement: A Review of Regulatory Instruments Designed to Promote and Secure Local Content Requirements in the Oil and Gas Sector

Asiago

2017

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Abstract:Regulatory interventions, such as Local Content (LC) requirements, have been incorporated to counter market forces to maximise petroleum revenues. This has been undertaken with the hypothesis that the governments of petroleum-producing countries depend heavily on petroleum sectors for development, yet energy markets inadequately allocate these resources. Thus, governments revise existing, and often out-of-date, petroleum laws and introduce new petroleum legislation to specifically promote socio-economic objectives. This article explores the key legislative instruments of LC as developed and implemented in the oil and gas sectors both from developed and developing countries' perspectives. In assessing the overall policy approach, this article evaluates instruments used to secure Local Content requirements in the oil and gas industry. In conclusion, governments must identify appropriate frameworks that consider the political and regulatory challenge of striking a balance between incentivising upstream investors and fulfilling national interests, such as creating jobs.

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Section: Substantive Petroleum Lawmentioning

confidence: 99%