Petroleum Legislation and Regulations

2. Key forms of upstream legislation

There are two key forms of petroleum legislation:

The key actors of the petroleum industry

The key petroleum industry players include:

  • Government authorities, such as a ministry or a petroleum directorate;

  • National oil companies (NOCs) (for example the State Oil Company of the Azerbaijan Republic);

  • International oil companies (IOCs) (for example Chevron, Shell, or BP), as well as

  • Independent companies and service companies.