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Renegotiation and Contract Adaptation in International Investment Projects
Abstract
This study focuses on the law and practice with respect to renegotiation of long-term international investment agreements-particularly in the natural resources and energy sector. It analyses the concept of renegotiation in the context of long-term international commercial contracts, and in particular in the upstream petroleum industry. It discusses the reasons governments and companies have for insisting on, and accommodating, renegotiation.