Readings in the International Oil and Gas Agreements: the Governance of Petroleum Resources

Abstract

This paper explores different understandings of the concepts of rent and economic rent applied to the oil and gas industry in the light of different types of oil and gas contracts. This in turn will be an essential step to understanding how a mineral resources owner behaves, why he behaves in a certain way, and what does he target when charging his tenant for the use of his land and/or sea. In other words, it will help in understanding different forms of mineral resources governance, and hence explain how oil producing countries govern their oil and gas resources by using certain types of oil and gas agreements.