Clause of oil legislation stability between legal law consolidation and execution condition change

Abstract

Legislation stability principle or principle of Legislation constantly is one of the most significant principles that consolidate legal law sought law by The foreing investing oil companies, for it make the realized investing project governed by a static and ditermined law since oil contract is concluded to its expiration. However, there might be some considerably changing economical, social and political conditions in which this contrat is concluded within, in a way that makes the continuity of enforcing oil legislation clauses and its prior provisions before such condition, leading to instability of contractual relation and an imbalance in its partie’s commitment, the fact that leads to implement the principle of renegotiation to ensure the continuity of contractual relation amid changing conditions