Libyan nationalizations: TOPCO/CALASIATIC vs Libya arbitration
Nine international oil companies operating in Libya were informed in 1973 and early 1974 that their interests and properties would be nationalized. This event followed four years after a military takeover of the Libyan government by Colonel Muammar el-Qadhafi, whose actions led to a major international arbitration. This article describes the background of the Libyan nationalization, the steps toward arbitration, the arbitration proceeding, the awards of the Sole Arbitrator, and the significance of those awards. The TOPCO/CALASIATIC vs Libya arbitration not only provides an excellent example of the process of arbitration, but also it confirms the effectiveness of the process in leading to eventual settlement of the dispute. Basic fundamental principles of law were considered, articulated, and reaffirmed throughout the process, adding percedent to the small body of international case law. 38 references.
- Research Organization:
- Debevoise, Plimpton, Lyons and Gates, New York, NY
- OSTI ID:
- 5569918
- Journal Information:
- Nat. Resour. Lawyer; (United States), Vol. 12:2
- Country of Publication:
- United States
- Language:
- English
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29 ENERGY PLANNING
POLICY AND ECONOMY
INTERNATIONAL LAWS
CASE LAW
LIBYA
PETROLEUM INDUSTRY
LEGAL ASPECTS
MULTINATIONAL ENTERPRISES
AFRICA
INDUSTRY
LAWS
021000* - Petroleum- Legislation & Regulations
294002 - Energy Planning & Policy- Petroleum
293000 - Energy Planning & Policy- Policy
Legislation
& Regulation