...are highly complex, capital-intensive and require state-of-the-art technology. Though efforts are being made to develop alternative sources of energy the world over, Oil and Gas will no doubt remain the largest fuel in the international energy market for some time and demand for the resources will continually create transactions and the attendant disputes. We all know that big business means big problems! The focus of this paper is to highlight the types of disputes which arise in the Oil and Gas industry, the type of Dispute Settlement/Resolution mechanisms available for resolving such disputes, issues of jurisdiction vis a vis private international law, consideration of the enabling instruments and laws and a practice guide to commencing/defending oil and gas related suits and finally a consideration of the Petroleum Industry Bill. 1. TYPES OF DISPUTES IN THE OIL AND GAS INDUSTRY. Disputes in the oil and gas sector the world over can span a range of subject matter, involving diverse parties. Some of these areas of disputes are outlined as follows: | * International and Local Maritime Boundary Disputes:...
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...Russia Attractiveness Report Overview Russia is a country located in northern Eurasia bordering the Arctic Ocean between Europe and North Pacific Ocean. Neighboring countries include Azerbaijan, Belarus, China, Estonia, Finland, Georgia, Kazakhstan, North Korea, Latvia, Lithuania, Mongolia, Norway, Poland, and Ukraine. The geography is diverse and includes vast forests and tundra in Siberia and mountains along the southern borders. The government system is a federation. The chief of state is the President and the head of government is the Premier. Russia has transitioned from a centrally planned economy to a more market-based economy in which many state-controlled firms have been privatized and sectors of the economy are liberalized. Russia is a member of the Eurasian Economic Community (EAEC), Asian Pacific Economic Cooperation (APEC), and Black Sea Economic Cooperation (BSEC). With a population of 142 million people and a place within the top 10 economies of the world, Russia is, without a doubt, an emerging economic powerhouse. Since late 1999 and the beginning of high oil prices and the arrival of President Putin, the economic situation in Russia has stabilized and in many cases even flourished. On the back of revenues from oil and gas the economy has been given the chance to consolidate and diversify and Russia has climbed to become the EU’s third trading partner, with growth rates of around 6-7% over the last 10 years and Foreign Direct Investment per capita exceeding...
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...groups. Religious disparities are also evident in these two economies. The Russians are largely unbelievers with the Russian Orthodox being the dominant religion whereas Kenyans are largely Christians. Despite these differences, the Muslim population in both countries is significantly represented but their marginalization makes them insignificant on an investment front. Finally, the social norms and values in both countries are quite similar, with the similar concepts of family, societal upbringing and gender roles. When evaluating both countries at the administrative level we encounter that they do not share a common trading bloc, but they separately participate in distinct blocks like EAC, COMESA and AGOA (Kenya) and Eurasian Federation (Russia). The currency in both countries is different (Kenyan Shilling and the ruble for Russia) and they do not share any common colonial link (Russia was never colonized as Kenya under the UK) and no common legal origin. In addition, both countries do suffer...
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... NATIONS UNIES DEPARTMENT OF ECONOMIC AND SOCIAL AFFAIRS Division for Social Policy and Development Co-organizers Secretariat of the Permanent Forum on Indigenous Issues Government of Khabarovsk Krai and the Russian Association of Indigenous Peoples of the North (RAIPON) INTERNATIONAL EXPERT GROUP MEETING ON INDIGENOUS PEOPLES AND PROTECTION OF THE ENVIRONMENT KHABAROVSK, RUSSIAN FEDERATION AUGUST 27.-29, 2007 The Adverse Impacts of Oil Pollution on the Environment and Wellbeing of a Local Indigenous Community: The Experience of the Ogoni People of Nigeria Paper by LEGBORSI SARO PYAGBARA MOVEMENT FOR THE SURVIVAL OF THE OGONI PEOPLE (MOSOP) OF NIGERIA Introduction Crude oil has had profound impact on the world civilization than any single natural resource in recorded history. Oil has become a very decisive element in defining the politics, rhetoric and diplomacy of states. This fact is adumbrated in a public lecture entitled “Oil in World Politics” delivered by a former secretary of the Organization of the Petroleum Exporting Countries (OPEC), the late Chief M.O.Feyide, when he asserted that “All over the world, the lives of people are affected and the destiny of nations are determined by the result of oil explorations. Oil keeps the factors of the industrialized countries working and provides the revenues, which enable oil exporters to execute ambitious national and economic development plans. The march of progress would...
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...Identification Number which became effective since February 2008), automated tax system that facilitates tracking of tax positions and issues by individual taxpayers, e-payment system which enhances smooth payment procedure and reduces the incidence of tax touts, enforcement scheme (Special Purpose Tax officers), these are special tax officers in collaboration with other security agencies to ensure strict compliance in payment of taxes. The tax authority now has autonomy to assess, collect and record tax. This enabling environment which came into being on the basis of (Section 8(q) of FIRS Establishment Act 2007) has led to an improvement in tax administration in the country. The Nigerian tax system has undergone significant changes in recent times. The tax laws are consistently being reviewed with the aim of repealing obsolete provisions and simplifying the main ones. Under current Nigerian law, taxation is enforced by the 3 tiers of government, i.e. federal, state, and local governments, with each having its sphere clearly spelt out in the Taxes and Levies (approved list for Collection) Decree, 1998. Despite this improvement, there are still a number of contentious issues that require urgent attention and among them is the issue of the appropriate tax authority to administer several taxes. The crisis between Lagos State and the federal government on the tax jurisdiction of VAT in the state is still a contentious issue that has been taken to the courts. Other states like Ogun, Oyo and...
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...Hydraulic Fracturing Course Project DeVry University LAWS-310-62220 Professor Stephens August 17, 2014 Abstract This paper will cover the legal and environmental issues raised by hydraulic fracturing. It will discuss state and federal regulations as well as proposed federal laws. This paper compares and contrasts stat law approaches, establishes and understanding for the place of hydraulic fracturing as it relates to the United States energy needs, and examines Frances laws and regulations on hydraulic fracturing. Hydraulic Fracturing Hydraulic Fracturing, also known as fracking, is a controversial oil and gas extraction process introduced in the late 1940s, which stimulates the movement of oil and natural gas trapped between rocks deep underground (ConocoPhillips, 2013). A large number of water, sand, and chemicals are pumped into the ground to break the rocks and release gas (Publica, 2013). This method increases the output of oil and natural gas. “This process, along with new innovations in horizontal drilling, has opened up new natural gas development opportunities across the country, especially in the mid-Atlantic region” (Law, 2011). Hydraulic fracturing is currently underway in the United States in Ft. Worth, TX, Fayetteville, AR, and the Appalachians (USGS, 2014). Internationally, hydraulic fracturing is currently taking place in Russia; however fracking is forbidden in France (Chu, 20104). Venezuela holds the largest gas and oil reserve in South America...
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...to fully determine the setbacks and the efforts to attract willing international players in the local electric power market. Companies that commit to long term investments in Nigeria’s power sector may very well benefit from laws, regulations and policies implemented to drive the sector forward. Notwithstanding the practical and legal challenges that are symptomatic of pioneer privatization mechanisms in developing countries, proponents of Nigeria’s reform in the electricity sector have been able to identify clear advantages for long-term investors. The advantages for investors are mapped out in numerous provisions in the Electric Power Sector Reform Act Cap (“The Act”) while other benefits can be found in various tax, environment, finance and customs laws in Nigeria. Committed parties would generally fall into two categories: the direct participants (foreign power companies, their suppliers and other companies that would provide services to the main players) and the international financiers to the project. An analysis of the setbacks and advantages of both groups is imperative for a broader viewpoint. POWER PLAYERS The passing of the Electric Power Sector Reform Act (“The Act”) is the biggest mark in the development of the industry. The aim of the Act is to unbundle the former...
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...the Civil War that changed the country forever. Many of these innovations led to vast amount of new jobs for minorities and other Americans. The first major change was the vast expansion of the railroads. With the full weight of the Federal Government the railroads leapt from approximately 30,000 miles of track to more than 350,000. Railroads spanned the nation, making the movement of goods, products, reasonable and reliable. Also, many people moved north to live near cities where the rail roads were being run. The United States changed to the better after the Civil War and during the industrialization revolution era families sold their farms to move closer to city life. After the Civil War the use and breakthrough of petroleum was established in 1853, Professor Schulman of Yale University discovered Kerosene, was considered a “useless” by product of crude oil, a powerful illuminate. (Schultz, P294) They needed a leader in marketing and drilling for oil and that man was John D. Rockefeller. Since John D. Rockefeller was from New York, the northeast benefit from railroads and big oil during this period. The economy in the northeast was striving and people were happy. The third important innovation which is still felt in today’s society and that was the incandescent light bulb invented by Thomas Edison. After many...
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...HISTORICAL BACKGROUND Early Years: The United Arab Emirates (UAE) was formed from the group of tribally organized Arabian Peninsula sheikhdoms along the southern coast of the Persian Gulf and the northwestern coast of the Gulf of Oman. This area was converted to Islam in the seventh century and for Library of Congress – Federal Research Division Country Profile: United Arab Emirates, July 2007 centuries afterward was embroiled in dynastic disputes. Most UAE nationals are descended from two tribal groupings, the Qawasim and the Bani Yas, which emerged as leading powers in the eighteenth century. The Qawasim, mainly land and sea traders, dominated what are today the emirates of Ras al Khaymah and Sharjah. The Bani Yas, who were agricultural and pastoral, lived in what are today the emirates of Abu Dhabi and Dubai. From the seventeenth to the nineteenth century, the area became known as the Pirate Coast, as both European and Arab pirates attacked foreign ships. The British mounted expeditions against the pirates during this period, culminating in an 1818 campaign against the pirate headquarters of Ras al Khaymah and other harbors along the coast. This action ostensibly was taken to safeguard British maritime routes, particularly those of the British East India Company, but some historians have noted that the war was in fact motivated by the British desire to establish supremacy in the region against the claims of other European powers. British Rule: In 1820 Britain...
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...Law Environment and Development Journal LEAD REVIEW OF NESREA ACT 2007 AND REGULATIONS 2009-2011: A NEW DAWN IN ENVIRONMENTAL COMPLIANCE AND ENFORCEMENT IN NIGERIA Muhammed Tawfiq Ladan COUNTRY LEGISLATION 8/1 VOLUME LEAD Journal (Law, Environment and Development Journal) is a peer-reviewed academic publication based in New Delhi and London and jointly managed by the School of Law, School of Oriental and African Studies (SOAS) - University of London and the International Environmental Law Research Centre (IELRC). LEAD is published at www.lead-journal.org ISSN 1746-5893 The Managing Editor, LEAD Journal, c/o International Environmental Law Research Centre (IELRC), International Environment House II, 1F, 7 Chemin de Balexert, 1219 Châtelaine-Geneva, Switzerland, Tel/fax: + 41 (0)22 79 72 623, info@lead-journal.org Country Legislation REVIEW OF NESREA ACT 2007 AND REGULATIONS 2009-2011: A NEW DAWN IN ENVIRONMENTAL COMPLIANCE AND ENFORCEMENT IN NIGERIA Muhammed Tawfiq Ladan This document can be cited as Muhammed Tawfiq Ladan, ‘Review of NESREA Act 2007 and Regulations 2009-2011: A New Dawn in Environmental Compliance and Enforcement in Nigeria’, 8/1 Law, Environment and Development Journal (2012), p. 116, available at http://www.lead-journal.org/content/12116.pdf Muhammed Tawfiq Ladan, Professor of Law, Department of Public Law, Faculty of Law, Ahmadu Bello University, Zaria, Nigeria, Email: mtladan@gmail.com Published under a Creative Commons Attribution-NonCommercial-NoDerivs...
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...think this disaster is going to shape how we think about the environment and energy for many years to come”, said Obama (Telegraph, 2010). We will use the four well-known moral frameworks discussed throughout the semester (utilitarianism, contractualism, ethics of virtue and deontology) to analyse why and how heavy the impact that disaster had on society under different points of view across international actors and the BP company itself. I. The Facts On April 20, 2010, the methane gas from the well, under high pressure, shot all the way up and out of the drill column, expanded onto the platform, and exploded. According to the global views, BP’s oil spill in Mexico was the biggest and the worst environmental disaster in the petroleum industry (even worse than 1989 Exxon Valdez Case). The explosion polluted hundreds of miles of coast, seriously affected local residents and communities and...
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...allocation cum resource control. The paper takes a cursory look at virtually all previous attempts at arriving at equitable formula. The paper however, infers that in a deeply plural and divided society like Nigeria a polity that ‘robs Peter to pay Paul’ may eventually be both counter-productive and dysfunctional. The clarion call however is a federal system with fiscal policy that can imbue in the citizenry sense of justice, equity and fairness visà- vis revenue allocation. To do otherwise according to the findings of this paper is to jeopardize all efforts at national cohesion and integration. Keywords: Federalism, fiscal federalism, revenue, resource, Grants-in-aid Federal Governance ISSN 1923-6158 www.federalgovernance.ca Forum of Federations 325 Dalhousie Street, Suite 700 Ottawa, Ontario K1N 7G2 Canada ♥ Ojo About Federal Governance Federal Governance is an online graduate journal on theory and politics of federalism and multilevel governance. Its mandate is to engage the global federalism community and reach out to outstanding graduate students interested in federalism and multi-level governance. By providing a platform for graduate students to have early success in their careers, Federal Governance seeks to promote and sustain interest in federalism and multi-level governance research among graduate students. Allied with the Forum of...
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...125 [pic]GHANA TRADES UNION CONGRESS MEDIUM TERM POLICIES FOR THE QUADRENNIAL 2008 -2012 [DRAFT] GHANA TRADES UNION CONGRESS Contents PART 1 3 INTRODUCTION AND BACKGROUND 3 Challenges at the International Level 3 Challenges at the National Level 4 Challenges at the workplace 8 PART 2 10 GHANA TUC’S PERSPECTIVES ON HUMAN DEVELOPMENT AND DEMOCRACY 10 Human Development Objectives 12 Democratic Participation in Decision-Making 14 PART 3 17 POLICIES 17 POLICY ON LABOUR RELATIONS AND SOCIAL DIALOGUE 17 POLICY ON EDUCATION AND TRAINING 20 POLICY ON ORGANISATION, INTERNAL DEMOCRACY AND SOLIDARITY 22 POLICY ON EMPLOYMENT 28 POLICY ON INCOMES 30 POLICY ON INFORMAL ECONOMY 32 POLICY ON SOCIAL PROTECTION 35 POLICY ON HOUSING 38 POLICY ON GENDER EQUALITY 40 POLICY ON CHILD LABOUR 42 POLICY ON OCCUPATIONAL SAFETY, HEALTH AND ENVIROMENT 44 POLICY ON HIV/AIDS 46 POLICY ON ENERGY AND POWER 49 POLICY ON INTERNATIONAL RELATIONS 52 POLICY ON THE YOUTH ……………………………………………………………… PART 1 _________________________________________________________ INTRODUCTION AND BACKGROUND The Ghana Trades Union Congress (TUC) has gone through very difficult challenges since it was established in 1945. Nevertheless, it has maintained its identity and continues to grow stronger. Currently, Ghana TUC has seventeen affiliates with an estimated membership...
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...Commercial law Name Institution Course Date Question 1 Introduction This is a case emanating from the corporations Act 2001 where the authorized financial advisor acted unprofessionally according to the Australian corporations Act. The breach of law led this financial advisor to jail. The judge issued his verdict basing on the provisions in the corporations Act 2001 to safeguard the plaintiffs from the negative impacts caused by the financial advisor Mr. weaver who gave false information to his clients. Motives of the financial advisor (Mr. Weaver) From the case, we are informed that Mr. Weaver (the defendant) pleaded guilty for 3 counts of failing to have a reasonable basis for the advice he gave and one count of making a false or misleading statement. He admitted that the advice he offered to his clients did not have a reasonable basis thus, it is as if he offered blind advice that affected the clients negatively. The clients followed his advice presuming that he is a trusted professional who has extensive knowledge in matters of financial investments. The defendant Mr. Weaver did not have any ulterior motive by giving this false advice but seems he acted this way due to assumptions. He did not take time to analyze the underlying facts so as to come up with credible advice that would benefits his clients; thus, he acted carelessly. Legal tools used by Judge Wall QC In making his ruling, judge Wall capitalized on section 1041E of the Australian corporations Act 2001...
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...(5): 102 - 115 The impact of petroleum on economic growth in Nigeria Michael Baghebo Niger Delta University, Bayelsa State, Nigeria baghebomichael@yahoo.com Timothy Okule Atima Niger Delta University, Bayelsa State, Nigeria Abstract The study examines the impact of petroleum on economic growth of the Nigerian economy. Data covering the period 1980-2011 was collected from the Central Bank of Nigeria Statistical Bulletin, and transparency international Agency annual publications and analyzed using econometric approach. The stationary status of the time series data was examined using Augmented Dickey Fuller test. The regressand is Real Gross Domestic Product (RGDP), The regressors are Foreign direct investment (FDI), Oil revenue (OIL), Corruption index (CI), External debt (EXDEBT). The series attained stationary after differencing. The Johansen cointegration test was conducted to ascertain the long run equilibrium condition of the variables in the model. The variables were cointegrated because four cointegrating equations were found. The Parsimonous model was established to account for the short run dynamic adjustments required for stable long run equilibrium. It was discovered that the variables: oil revenue and corruption index impacts negatively on Real GDP, while FDI and EXDEBT have positive impact on the growth of the economy. This means that the resource curse theory is proven to be true in Nigeria. The study concludes that, if the petroleum industry bill is passed and implemented...
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