Ownership of Petroleum Resources in Islam (Twelver Shia) and The Iranian law
Article from: OGEL 3 (2017), in Middle East, Buy Back Contracts
Abstract
The ownership of petroleum resources in Islam has been debated for many centuries. While some Islamic jurists believe that they are one example of Anfal, others believe that they are communal properties. Also, a minority is of the opinion that private owners are capable of owning petroleum resources. Initially, the Iranian rules and regulations stated that petroleum reservoirs could be owned by people. Following nationalization of petroleum industry in Iran which took place in 1951, petroleum resources were considered as communal properties. This status continued ...