f The Petroleum Law/Regulation Systems of Turkey and the World and Its Importance

In today’s world, the fierce competition witnessed in petroleum sector can only be coped with a petroleum policy and financial policy systems having well designed legal basis. The governments and the petroleum investors may achieve the development goals through long lasting and durable relations in a comprehensible, stable and reliable legal ground. Energy is the leading factor among the most important factors that determine a country’s economy, and the basic purpose of all these efforts is to carry the public welfare to the highest level by increasing the economic strength of the country. The day by day increase of energy requirement in our country, the global changes and the liberal market regulations as well as the requirement for determination of the players, rules, audit processes and the authorities during the process from exploration and production of Petroleum until it reaches to the consumer have revealed the need for introduction of a new legal regulation. In this context, understanding the legal development of the Petroleum Sector in our country and in the world is extremely important for comprehending the innovations experienced and for finding legal solutions to the problems encountered in the sector.