International Law and the Ownership Structure of Petroleum Resources in Nigeria

Abstract

The international legal regime of the ownership structure of petroleum resources has some influence on Nigeria’s petroleum ownership structure. The paper examines the roles of the international legal regime on the ownership structure of petroleum resources in Nigeria. It discusses the influence of various international sea conventions like the United Nations Law of the Sea (UNCLOS), the Exclusive Economic Zone, Territorial Waters, and the Continental Shelf on the Nigerian ownership regime. The paper employed a doctrinal approach by using a qualitative research method and content analysis of relevant literature on the subject matter. Findings summarize that the international law regime has positively impacted ownership and control of petroleum resources in Nigeria even though there is a need to adopt mixed-ownership/control obtainable in other systems like the United States, Australia, and Canada to cool down fray nerves in the Niger Delta.