scholarly journals The Total S.A. Case: Meaning of “Investment” under the ILSA

1998 ◽  
Vol 92 (3) ◽  
pp. 539-548 ◽  
Author(s):  
Rex J. Zedalis
Keyword(s):  
United States ◽  
Clinton Administration ◽  
The United States ◽  
Oil Field ◽  
Executive Order ◽  
Oil Companies ◽  
Petroleum Resources ◽  
Petroleum Development ◽  
Oil Company ◽  
The U.S

On March 7, 1995, Conoco oil company of Houston, Texas, announced that it had entered into a contract with Iran to have a Netherlands-based affiliate assist in the development of the Sirri Island oil field. In response, the Clinton administration issued Executive Order No. 12,957, prohibiting participation by U.S. entities in the development of Iranian petroleum resources. Eventually, Conoco withdrew from its contract, but in early May of 1995 the administration stepped up its pressure on Iran by issuing Executive Order No. 12,959, prohibiting U.S. entities from using foreign entities they owned or controlled to make investments in or conduct trade transactions with Iran. On July 13 of that year, the French oil company Total S.A. entered into an agreement with Iran to replace Conoco in developing the Sirri Island field, and over the next several months Iran struck nearly a dozen petroleum development agreements worth in excess of $50 million each with other foreign oil companies. Within a couple of months, both Houses of the U.S. Congress took up consideration of proposals to complicate Iran’s ability to develop its hydrocarbon resources. By the end of 1995, the proposals, which even extended to wholly foreign entities organized and operating outside the United States, had come to include Libya as well. Final passage of one of the proposals, specifically, H.R. 3107, took place in the Senate and the House in July 1996. It was signed into law as the Iran and Libya Sanctions Act (ILSA) on August 5.

scholarly journals Canada and the Manhattan Crisis in the Arctic (1968–1970)

2021 ◽  
pp. 0
Author(s):  
Dmitry Volodin
Keyword(s):  
United States ◽  
The United States ◽  
Oil Field ◽  
The Arctic ◽  
Canadian Government ◽  
Northwest Passage ◽  
Oil Companies ◽  
Southern States ◽  
The U.S

The discovery of a giant oil field in Alaska in 1968 sparked great interest in the United States in the Northwest Passage as a possible route for the delivery of Alaska's oil to the more southern states of the United States. In 1969-1970 American oil companies with the support of the U.S. authorities organized two voyages of the tanker Manhattan across these waters to test the viability of this route. Although Canada supported this project and took part in it, but at the same time the Canadian government of P. Trudeau adopted two new laws, which sharply strengthened Canada's control over shipping in the Northwest Passage. In an effort to prevent an open conflict with the United States, Canada did not declare all the waters of the Arctic Archipelago as its internal waters, but made a choice in favor of the so-called functional sovereignty, that is, the ability to exercise a certain set of rights over a specific territory.

Significant Differences in Proved Reserves Estimates Using SPE/WPC Definitions Compared to United States Securities and Exchange Commission (SEC) Definitions

2005 ◽  
Vol 8 (06) ◽  
pp. 520-527 ◽  
Author(s):  
D.R. Harrell ◽  
Thomas L. Gardner
Keyword(s):  
United States ◽  
Oil And Gas ◽  
The United States ◽  
Securities And Exchange Commission ◽  
Classification Systems ◽  
Direct Function ◽  
Oil Companies ◽  
Publicly Owned ◽  
Hydrocarbon Reserves ◽  
The U.S

Summary A casual reading of the SPE/WPC (World Petroleum Congresses) Petroleum Reserves Definitions (1997) and the U.S. Securities and Exchange Commission(SEC) definitions (1978) would suggest very little, if any, difference in the quantities of proved hydrocarbon reserves estimated under those two classification systems. The differences in many circumstances for both volumetric and performance-based estimates may be small. In 1999, the SEC began to increase its review process, seeking greater understanding and compliance with its oil and gas reserves reporting requirements. The agency's definitions had been promulgated in 1978 in connection with the Energy Policy and Conservation Act of 1975 and at a time when most publicly owned oil and gas companies and their reserves were located in the United States. Oil and gas prices were relatively stable, and virtually all natural gas was marketed through long-term contracts at fixed or determinable prices. Development drilling was subject to well-spacing regulations as established through field rules set by state agencies. Reservoir-evaluation technology has advanced far beyond that used in 1978;production-sharing contracts were uncommon then, and probabilistic reserves assessment was not widely recognized or appreciated in the U.S. These changes in industry practice plus many other considerations have created problems in adapting the 1978 vintage definitions to the technical and commercial realities of the 21st century. This paper presents several real-world examples of how the SEC engineering staff has updated its approach to reserves assessment as well as numerous remaining unresolved areas of concern. These remaining issues are important, can lead to significant differences in reported quantities and values, and may result in questions about the "full disclosure" obligations to the SEC. Introduction For virtually all oil and gas producers, their company assets are the hydrocarbon reserves that they own through various forms of mineral interests, licensing agreements, or other contracts and that produce revenues from production and sale. Reserves are almost always reported as static quantities as of a specific date and classified into one or more categories to describe the uncertainty and production status associated with each category. The economic value of these reserves is a direct function of how the quantities are to be produced and sold over the physical or contract lives of the properties. Reserves owned by private and publicly owned companies are always assumed to be those quantities of oil and gas that can be produced and sold at a profit under assumed future prices and costs. Reserves under the control of state-owned or national oil companies may reflect quantities that exceed those deemed profitable under the commercial terms typically imposed on private or publicly owned companies.

scholarly journals THE BEGINNING OF THE ROYAL DUTCH/SHELL AND STANDARD OIL COMPANY RIVALRY IN THE DUTCH INDIES 1865-1910

2018 ◽  
Vol 1 (1) ◽  
Author(s):  
Agus Setiawan
Keyword(s):  
United States ◽  
Early Stage ◽  
The United States ◽  
American Government ◽  
Oil Companies ◽  
Stage Of Development ◽  
Royal Dutch Shell ◽  
Economic Relationship ◽  
Standard Oil Company ◽  
Oil Company

This paper describes the beginning of the oil rivalry in the Dutch Indies. It begins with an overview of the political and economic relationship between the United States, The Netherlands and the Dutch Indies since the mid-19th century, namely the period when the oil industries in the United States and the Dutch Indies were still at an early stage of development. Since the independence of the United States of America, the two countries had very good relations which were evident from their various co-operations, including the Treaty of Alliance which was ratified in 1782. However, the Dutch colonial government’s policies which sought to restrict the American oil companies’ investment in the Dutch Indies caused discontent amongst the American government and American oil companies, straining their relationship with the Dutch Indies.

scholarly journals New Challenges to Transboundary Unitization in the Gulf of Mexico

2020 ◽  
Vol 6 (4) ◽  
Author(s):  
Isaac Olson
Keyword(s):  
United States ◽  
Oil And Gas ◽  
New Technology ◽  
The United States ◽  
Oil Field ◽  
Joint Commission ◽  
Boundary Line ◽  
Oil Companies ◽  
Oil Reserves ◽  
The Joint Commission

In the last two decades, the search for untapped oil reserves led to many innovations in oil and gas exploration. As new technology continues to open new horizons, oil companies are increasingly able to drill at deeper ocean depths to tap offshore reserves. Offshore drilling poses problems where oil reserves hundreds of miles from shore cross an international boundary line. While American courts typically apply the rule of capture to determine who owns the subsoil resources, international law requires countries to work together to maximize the efficient, safe extraction of the resources. In 2012, the United States and Mexico drafted a treaty that would govern the unitization of an offshore transboundary oil field. Today, Mexico’s energy laws are very different. A new administration threatens to unravel recent liberal reforms, and the United States has become more hostile to Chinese investment in the region. With these political challenges in mind, the treaty is very vague on critical issues, particularly its dispute resolution clause, which the United States and Mexico must strengthen if the treaty is to be effective and shared transboundary resources develop efficiently to the benefit of both nations. The treaty creates a body called the Joint Commission to create much of the treaty’s policy and procedure. In order to maintain good relations and a healthy energy sector, the Joint Commission needs to create subsidiary committees subject to its control and comprised of various experts to ensure the treaty is implemented impartially.

An American Language

2018 ◽  
Author(s):  
Rosina Lozano
Keyword(s):  
United States ◽  
National Policy ◽  
The United States ◽  
Spanish Language ◽  
Spanish Speakers ◽  
Language Recognition ◽  
Political Language ◽  
Political Issue ◽  
History Of ◽  
The U.S

An American Language is a political history of the Spanish language in the United States. The nation has always been multilingual and the Spanish language in particular has remained as an important political issue into the present. After the U.S.-Mexican War, the Spanish language became a language of politics as Spanish speakers in the U.S. Southwest used it to build territorial and state governments. In the twentieth century, Spanish became a political language where speakers and those opposed to its use clashed over what Spanish's presence in the United States meant. This book recovers this story by using evidence that includes Spanish language newspapers, letters, state and territorial session laws, and federal archives to profile the struggle and resilience of Spanish speakers who advocated for their language rights as U.S. citizens. Comparing Spanish as a language of politics and as a political language across the Southwest and noncontiguous territories provides an opportunity to measure shifts in allegiance to the nation and exposes differing forms of nationalism. Language concessions and continued use of Spanish is a measure of power. Official language recognition by federal or state officials validates Spanish speakers' claims to US citizenship. The long history of policies relating to language in the United States provides a way to measure how U.S. visions of itself have shifted due to continuous migration from Latin America. Spanish-speaking U.S. citizens are crucial arbiters of Spanish language politics and their successes have broader implications on national policy and our understanding of Americans.

Palestine Unbound

2018 ◽  
Vol 47 (3) ◽  
pp. 130-134
Keyword(s):  
United States ◽  
Human Rights ◽  
Task Force ◽  
The United States ◽  
Donald Trump ◽  
Tel Aviv ◽  
The Us ◽  
Intention To Move ◽  
Arab Israeli Conflict ◽  
The U.S

This section, updated regularly on the blog Palestine Square, covers popular conversations related to the Palestinians and the Arab-Israeli conflict during the quarter 16 November 2017 to 15 February 2018: #JerusalemIstheCapitalofPalestine went viral after U.S. president Donald Trump recognized Jerusalem as the capital of Israel and announced his intention to move the U.S. embassy there from Tel Aviv. The arrest of Palestinian teenager Ahed Tamimi for slapping an Israeli soldier also prompted a viral campaign under the hashtag #FreeAhed. A smaller campaign protested the exclusion of Palestinian human rights from the agenda of the annual Creating Change conference organized by the US-based National LGBTQ Task Force in Washington. And, UNRWA publicized its emergency funding appeal, following the decision of the United States to slash funding to the organization, with the hashtag #DignityIsPriceless.

The French Way

2011 ◽  
Author(s):  
Richard F. Kuisel
Keyword(s):  
United States ◽  
The United States ◽  
French Language ◽  
French Cinema ◽  
Free Markets ◽  
Technology Sector ◽  
Aids Epidemic ◽  
Political Reality ◽  
Politics And Culture ◽  
The U.S

There are over 1,000 McDonald's on French soil. Two Disney theme parks have opened near Paris in the last two decades. And American-inspired vocabulary such as “le weekend” has been absorbed into the French language. But as former French president Jacques Chirac put it: “The U.S. finds France unbearably pretentious. And we find the U.S. unbearably hegemonic.” Are the French fascinated or threatened by America? They Americanize yet are notorious for expressions of anti-Americanism. From McDonald's and Coca-Cola to free markets and foreign policy, this book looks closely at the conflicts and contradictions of France's relationship to American politics and culture. The book shows how the French have used America as both yardstick and foil to measure their own distinct national identity. France has charted its own path: it has welcomed America's products but rejected American policies; assailed Americ's “jungle capitalism” while liberalizing its own economy; attacked “Reaganomics” while defending French social security; and protected French cinema, television, food, and language even while ingesting American pop culture. The book examines France's role as an independent ally of the United States, but he also considers the country's failures in influencing the Reagan, Bush, and Clinton administrations. Whether investigating France's successful information technology sector or its spurning of American expertise during the AIDS epidemic, the book asks if this insistence on a French way represents a growing distance between Europe and the United States or a reaction to American globalization. Exploring cultural trends, values, public opinion, and political reality, this book delves into the complex relationship between two modern nations.

Latino Catholicism

2011 ◽  
Author(s):  
Timothy Matovina
Keyword(s):  
United States ◽  
Sixteenth Century ◽  
Catholic Church ◽  
Social Life ◽  
Social Issues ◽  
The United States ◽  
Societal Impact ◽  
Comprehensive Overview ◽  
Public Debates ◽  
The U.S

Most histories of Catholicism in the United States focus on the experience of Euro-American Catholics, whose views on social issues have dominated public debates. This book provides a comprehensive overview of the Latino Catholic experience in America from the sixteenth century to today, and offers the most in-depth examination to date of the important ways the U.S. Catholic Church, its evolving Latino majority, and American culture are mutually transforming one another. This book highlights the vital contributions of Latinos to American religious and social life, demonstrating in particular how their engagement with the U.S. cultural milieu is the most significant factor behind their ecclesial and societal impact.

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