Dispute Resolution in the Oil and Gas Industry

Dispute Resolution in the Oil and Gas Industry

International Commercial Arbitration as the Most Preferred Method of Dispute Resolution

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The international commercial arbitration gained prominence in the post World War II era and particularly with the coming into force of the New York Convention on 7 June 1959. The inclusion in the investment agreements and into the national legal framework in general of an effective means of dispute resolution mechanism is considered as a necessary condition for countries to attract foreign direct investments. Today, even the countries which were strongly opposed to opening up their economies to global competition including China have embraced international commercial arbitration as an effectiv...