Materialization of Political Risk in the Oil & Gas Industry: The Case of Egypt in the Turmoil of the Arab Spring
Article from: OGEL 3 (2012), in OGEL Ten Years Special Issue: Internationalisation of Energy Law
Abstract
The aim of this paper is to shed some light on how the Arab Spring has affected the petroleum industry in Egypt. The paper will summarize the events that have been unfolding since winter 2011 and provide some key information about the oil & gas landscape in Egypt. It will then show how political risk has materialized in the petroleum industry after the fall of Hosni Mubarak. First, it will explain that while the interim government has been supporting investors, and, in some instances, even taken their side against local opposition, nevertheless the transition, marked by legal ...