Incorporated Joint Ventures in the Nigerian Petroleum Industry: Examining the Legal Implications & Regulatory Risks
Article from: OGEL 2 (2013), in Risks and Responses to Risk in the Energy Sector
Introduction
Laws and regulations are often designed to isolate or guard stakeholders against plausible risks apart from outlining the framework in which State policies and objectives are to be effected in a given industry. In the petroleum industry, the stakeholders are often the State or custodians of State interests on one hand and private (local and multinational) corporations on the other. The process of changing or reforming the underlying legal regime within the industry also brings to life certain risk elements. Regulatory risks entails the threat to earnings, capital and business ...