Contracting and Regulatory Issues in Libya’s Oil Extraction Industry
This article examines the contractual affairs and fundamental regulation in Libya’s oil extraction industry. It permits analysis of contract classifications and presents various avant-garde matters. In conferring contract kinds, firstly, it administers a succinct historical context. Then, the discussion leads to prime contract categorizations. Both the itemize contemporary contract and narrative of traditional concessions are typical to oil extraction. Among up-to-date concerns are (1) contract rebargain, chiefly in regards to Libya, and (2) the environmental dilemmas and management of human rightness and by projects. The results of this article will facilitate the industry to narrow down the gap of academic research, especially in the oil regulation and contractual issues of extraction industries.