Are Local Content Requirements in Developing Petroleum Sectors Sustainable? Managing Expectations while Aligning Sustainable Principles with Regulatory Policy
Article from: OGEL 4 (2018), in Africa
Abstract
Proponents of Local Content (LC) policies often argue that LC mandates are intrinsically sustainable especially when introduced within the latitude of socio-economic developments. This argument is probably accurate to the extent that such mandates contemplate not only the economic advantages that may arise as a result of their introduction but also consider appropriate legal and regulatory frameworks for their implementation. This proposition however, stands in absolute contrast to the surge of LC rules in the oil and gas sectors. LC either in form of policies, laws, regulations, ...