The Nature of Oil Laws

The Libyan oil law as a model: An analytical study

Abstract

This research aims to analyze the Libyan Petroleum Law issued in 1955 and its philosophy upon which it was based as an economic project that the country was in dire need of. This philosophy was partly flexible in the nature of the law. At the beginning, the research touched on a glimpse of the Middle East region and how oil companies dealt with it, starting with the oil project Iranian and the contracts on which it was based. He also focused on the cognitive aspect of building the structure of this law and keeping pace with the stages of development across successive stages globally in the mechanisms of work of international companies, especially since Libya, after its independence, had no experience in the field of research Oil. Libya, after its independence, had no experience in oil research and exploration. To understand the nature of this law, a study was conducted in key areas, including concession contracts, how they were signed, their subsequent development, and the amendments made to them during two distinct periods: the period of the Libyan Kingdom's government and the period of the September 1996 Revolution. Despite all the amendments, this law remains in effect to this day