Odumosu, Ibironke --- "The Settlement of Investor–State Oil and Gas Disputes in Africa" [2011] ELECD 413; in Botchway, N. Francis (ed), "Natural Resource Investment and Africa’s Development" (Edward Elgar Publishing, 2011)

Book Title: Natural Resource Investment and Africa’s Development

Editor(s): Botchway, N. Francis

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781848446793

Section: Chapter 12

Section Title: The Settlement of Investor–State Oil and Gas Disputes in Africa

Author(s): Odumosu, Ibironke

Number of pages: 28

Extract:

12. The settlement of investor­state oil
and gas disputes in Africa*
Ibironke Odumosu

1 INTRODUCTION

African states are fertile ground for the continuous discovery of oil and
gas. From the new discoveries in Ghana1 to Angola's contention for the
position of the biggest African oil producer,2 and the introduction of Chad
and Sudan to oil production, Africa's place in the international oil market
continues to grow.3 Angola became a full member of the Organization
of Petroleum Exporting Countries (OPEC) in 2007, signalling its entry
into the big leagues of oil production and exporting in Africa and OPEC
circles.4
In spite of the move towards other sources of energy, oil and, invari-
ably, the settlement of oil and gas disputes in Africa remain important
due to several factors.5 First, although oil is being supplemented by other
fuels, it will remain the largest fuel in the international energy market
for some time. Second, the energy needs of states like China and India
will continue to drive the demand for the resource. Third, members of
OPEC will continue to assume significant positions in the international
energy market because it is contended that non-OPEC oil production will
peak in a decade.6 The settlement of disputes arising from investment in
oil production will, therefore, involve African states and Western inves-
tors in the almost century-long dynamic that has prevailed. However, it
will also incorporate large consumers like China and India. In Sudan,
Chinese, Indian and ...