A Comparative Analysis of the Contractual and Regulatory Framework of the Oil Industry: Global Changes and Practices

The oil and gas industry is an ever shifting paradigm with new happenings which is not only represented through its exploration practices, the inception of new technology, the corresponding implementation of this technology, but is also represented by subsequent and corresponding changes in the techno legal framework as well, which is also needed to be fully appreciated in order to understand the global demand of petroleum and its subsequent by-products which clearly are the driving force of any economy today, hereby enabling even the weakest of countries to determine the political, economic and trade related fate of other Developed countries.