Summary

This study focuses on the law and practice with respect to renegotiation of long-term international investment agreements - particularly in the natural resources and energy sector. The study analyses the concept of renegotiation in the context of long-term international commercial contracts - particularly in the upstream petroleum industry. It discusses the reasons governments and companies have for insisting on, and accommodating, renegotiation. It provides a survey of legal issues which are relevant to renegotiation - first, naturally, the question of what law is applicable, ...