Some important new issues in petroleum licensing
Article from: OGEL 1 (2003), in Roundup of Articles
Summary
In the early days of the oil industry in Imperial Russia in the 1840s the state, vested with the property in petroleum in situ , took powers to license private entrepreneurs to seek for and to obtain petroleum. Elsewhere, in the Carpathians and across the Atlantic in North America and Trinidad, the situation was different. There the landowner himself held title to petroleum and minerals under his land. He was able to lease it to private entrepreneurs for petroleum exploration and production in a private transaction without the involvement of the state. In England, under ...