THE ROLE OF INTERNATIONAL ARBITRATION IN RESOLVING OIL DISPUTES WITH FOREIGN INVESTMENT COMPANIES: CASE STUDY OF THE NATIONAL COMPANY FOR RESEARCH, PRODUCTION, TRANSPORT, TRANSFORMATION AND MARKETING OF FUELS (SONATRACH)

Abstract

This study aims to shed light on the role of international arbitration in resolving disputes with foreign oil companies and what the National Company for Research, Production, Transportation, Transfer and Marketing of Hydrocarbons (Sonatrach) has played in achieving a balance between what Algeria seeks to promote investments by hosting foreign oil companies and not prejudice their rights and create a clear climate to reassure the investor and the movement of his capital. If the state has the power to issue various legislations within its territory and take whatever measures it deems necessary to cancel or amend its contractual obligations and affect the rights of foreign companies contracting with it, then petroleum agreements have repeatedly included what is known as the condition of international arbitration to resolve oil disputes with foreign companies.