Printable Version

Fall 2012
5371 International Petroleum Transactions (formerly known as Int'l Energy Trans.) - WEAVER- 18004

Professor(s): Jacqueline Weaver (EMERTI)

Credits: 3

Course Areas: Energy, Natural Resources and Environmental Law 
International Law

Time: 9:00a-10:30a  TTh  Location: 3  BLB

Course Outline: International Petroleum Transactions provides an overview of the laws, contracts, and legal issues that arise between host governments and oil companies that seek to invest in and develop oil and gas owned by the host governments. The course includes: an overview of National Oil Companies (the largest reserve owners today), ascertaining title to the minerals, especially in federalist countries or countries with indigenous tribes; resolving boundary disputes between nations; a comparison of the most commonly used granting contracts (licenses, production-sharing contracts and service contracts); issues arising under the international Joint Operating Agreement; sustainable development in resource development, including social impact assessment, human rights issues and litigation, and liability for transboundary pollution and oil spills; anti-corruption laws and codes; international arbitration; and other issues as time permits. The course also provides a good background to the future of the western majors in the global context of international energy. The class will have several guest lecturers who are leading practitioners in specialized areas of international petroleum transactions, such as arbitration and the Foreign Corrupt Practices Act.

Course Syllabus: Syllabus

Course Notes:   

Prerequisites: No  It is interesting to contrast international contracts with the private oil and gas lease system studied in Oil and Gas Law (which is largely Texas oil and gas law, including Texas regulation of oil and gas). But Oil and Gas Law is not a prerequisite and the system of private ownership is quite different from the international world.

First Day Assignments: The casebook (CB) is Smith, Dzienkowski et al, International Petroleum Transactions (3d ed. 2010). Additional material is in a Supplement at the Copy Center where it is sold at cost.

IPT SUPP. ITEM 1: “The Future of the Petroleum Industry under Global Warming” (10 pp, including lists of new technologies) Discussion of Peak Oil, geopolitics, Flags and Open Doors, Scramble and Blueprints--and energy forecasts, esp. for oil and gas. I will present a Powerpoint in class on these themes.

IPT SUPP. ITEM 2: Graphics of int’l petroleum markets and industry.

CB Ch. 1. World Energy Resources. Much of this chapter is self-explanatory, and will not be covered in class discussion. The basic geology on pp. 5-16 is usually covered in the Oil and Gas law course. Note 4 on p. 12 describes unconventional oil and pp. 14-16 describe unconventional gas. Know what these sources are. Omit the note on hard minerals on pp. 16-17. Be sure to read pp. 17-21 on reserves, especially the graphic on page 20. Omit pp. 24-28 because the reading in Item 1 covers this. Do read pp. 28-29 on renewables and review the coal data on p.23. The US is the king of coal!

Final Exam Schedule: 12/11 9am-noon  144 TU2    

This course will have:

Satisfies Skills Course Requirement: No
Satisfies Senior Upper Level Writing Requirement: No

Experiential Course Type:

Bar Course: