The System of Ownership of Oil and Oil Assets (a Comparative Study between Iraqi and American Law)

Volume 5 , Issue 2 , December 2017 , Pages 35-61

Authors

Rewaz Faiq Hussain 1

1 Iraqi Kurdistan Parliament

DOI logo 10.17656/jlps.10110

Keywords

Abstract

"Legal regulation of the ownership of oil and gas assets, Fixed and movable, Constitute are a real challenge to the legislature In terms of the need to be careful and accurate in the legislation of laws, Guarantor, The interest of the oil producing state and achieved the balance between their rights and the rights of the oil investor. While it is complicated for the competent authority to conclude the oil contract, Whenever the legislative system of the state suffers from a legislative vacuum regarding to the regulation of the ownership of oil and gas assets between the parties to the oil contract, Through explicit and accurate texts.
  In this sense, due to the confusion experienced by the system of the ownership in the oil sector, In Iraq and in the Kurdistan region-Iraq, As a result of the absence of legally binding and universal legal provisions, protects the rights, owners of surface lands, and oil companies, The idea of this research was inspired, Through making careful companies between the incomplete and distorted legal system of Iraq and the Kurdistan region and the legal system of the United States of America, due to the presence of large number detailed texts and various provisions which differ from the legal and contractual reality in Iraq and Kurdistan region.
 This difference is due to the recognition by the US legislator of individuals and private individuals of the ownership of mineral rights."

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  • Published at4 December 2017

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