Buy-Back Contracts and Asymmetric Information
Article from: OGEL 1 (2009), in Middle East, Buy Back Contracts
Introduction
The debate over the buy-back oil contracts is still topical in Iran. It was announced lately by Iranian Ministry of oil that a new revised version of these contracts have been presented. The author has always been of the view that some of the problems attributed to buy-back contracts, type of the contracts or the solutions searched within the oil contracts are not issues and problems within the contract itself but they are in fact issues of the context of the contracts. Hence, this paper aims to indicate the main roots of the criticisms towards buy-back contracts in Iran and to propose ...