《PROPERTY RIGHTS AND SOUEREIGN RIGHTS THE CASE OF NORTH SEA OIL》

1.Introduction1

2.The Sovereign State and the State of Nature9

From Concession to Contract10

The International Oil Companies21

OPEC and the Scramble for Natural Resources34

3.Ownership and Control of North Sea Oil41

Questions of Property42

Sovereign Rights46

The Licence50

Regulation: Private and Public56

Sovereign Power and the Role of BP63

4.Oil Companies and the British State, 1960-197369

The Creation of a Legal Framework70

Licensing as a Mode of State Regulation76

State Participation80

Origins of the Crisis85

5.The Crisis of Legality92

A Question of Legality93

Quasi-nationalization100

Tactics: Negotiations and Threats104

‘Voluntary’ Negotiations112

6. Renegotiation and Legislation116

The Power to Control the Rate of Production117

Other Regulatory Powers123

‘Unilateral’ Alteration125

Security of Tenure130

Conclusion134

7. The British National Oil Corporation138

The Constitution of BNOC139

The Participation Agreements144

State Oil, 1976-1979156

Privatization: Principle and Practice163

8. The New Property: Past, Present and Future172

The New Property174

The Decisive Decade181

Alternatives184

Appendix 1. UK Petroleum Taxation: An Outline190

Appendix 2. UK Licence Rounds: Summary192

Bibliography194

Index203

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