International Arbitration
Introduction
Most of the oil exploration and exploitations done are conducted not by the governments of the countries these explorations are conducted in but by multinational corporations and other international oil companies. Because petroleum and other oil products are among the most sort after commodities and therefore attract great interests among both the consumers and producers of the oil and the fact that the governments of the host countries enter into risky and complex investments, governments and oil companies making agreements on oil provide for arbitration as the method of choice in dispute settlement. The main objective of this paper is to provide several key issues that take place in arbitration between international oil companies and the host government.
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