BALANCING ENVIRONMENTAL RULES WITH THE FUTURE OF OIL AND GAS
DOI:
https://doi.org/10.29121/shodhkosh.v5.i6.2024.6471Keywords:
Exploration and Production, International Organizations, Environmental Challenges, Global Cooperation, Shared ResponsibilityAbstract [English]
The oil and gas industry plays a pivotal role in the global economy but poses significant environmental risks through pollution and climate impacts during exploration and production. Nations have enhanced their energy sector operations to balance economic growth with environmental conservation.
This study examines global regulatory frameworks governing oil and gas exploration and production (E&P), focusing on environmental concerns. It analyzes policies and decision-making processes of key international organizations like the UNFCCC, OPEC, and IEA, emphasizing sustainability in resource extraction.
Challenges in implementing international agreements include weak enforcement, varying national regulations, data transparency issues, and inadequate monitoring systems. The study concludes that achieving sustainability requires collaborative efforts, standardized practices, enhanced monitoring, and increased financial support. A sustainable future in energy E&P depends on global cooperation and shared responsibility.
References
Adeleke F. 2017. The Extractive Industries Transparency Initiative and Africa’s Mineral Governance Regime. South African Institute of International Affairs. Occasional Paper, 266: 7-10
Aylor B, Gilbert M., Lang N, McAdoo M., Öberg J, Pieper C., Sudmeijer B, Voigt N. 2020. How an EU Carbon Border Tax Could Jolt World Trade.
Baram M, Renn O, Lindoe PH. 2014. Modes of Risk Regulation for Prevention of Major Industrial Accidents. Risk Governance of offshore Oil and Gas Operations. Cambridge University Press, UK DOI: https://doi.org/10.1017/CBO9781139198301.005
Boulos A. 1990. Mutuality of interests between Company and Government- Myth and Fact? Energy and Natural Resources Law (SERL) of International Bar Association (IBA). Proceedings of 9th Advanced Seminar on Petroleum, Mineral and Energy Resources Law. 12-13, Netherlands, London
Cahill B, Swanson K. National Oil Companies, Climate Commitments, and Methane. Center for Strategic and International Studies (CSIS). https://www.csis.org/
Cooney R. 2004. The precautionary principle in Biodiversity Conservation and Natural Resources Management: An issues Paper for Policy –Makers, Researchers and Practitioners. IUCN
Drapier M., Sutton C, Morillon A. 2000. Environment Protection in Oil and Gas Industry: A Gateway To Sustainable Development. Spe 87271. Abu Dhabi International Petroleum Exhibition and Conference. Abu Dhabi, United Arab Emirates DOI: https://doi.org/10.2118/87271-MS
Eberspaecher K. 2017. Sustainable Development in Oil and Gas. Advisian’s Worley Group. https://www.advisian.com/en/global-perspectives/sustainable-development-in-oil-and-gas
Gao Z. 1994. International petroleum exploration and exploitation agreements: A comprehensive environmental appraisal. Journal of Energy & Natural Resources Law, 12(2): 240-256. DOI: 10.1080/02646811.1994.11432990. DOI: https://doi.org/10.1080/02646811.1994.11432990
Gao Z. 1998. Environmental Regulation of Oil and Gas in twentieth Century and Beyond: An Introduction and Overview. Environmental Regulation of Oil and Gas. Kluwer Law International, USA Goel S. 2011. Global Crude Oil Business. Pentagaon Energy Press, USA
Greenfieid D, Rooney B. 1999. Aspects of international petroleum agreements. Alberta Law Review, 37(2): 353 DOI: https://doi.org/10.29173/alr526
IMO.1967.INT’LMAR.ORG.http://www.imo.org/en/About/HistoryOfIMO/Pages/Default.aspx International Energy Agency. 2017. The World Energy Outlook. OECD/IEA, Paris, France
IPIECA-UNDP-UNFCC.2017. Sustainable Development Goals Atlas.
Marrakesh Agreement, 1994. World Trade Organization. https://www.wto.org/
Nliam SO. 2014. International oil and gas environmental legal framework and the precautionary principle: The implications for the Niger Delta, African Journal of International and Comparative Law, 22(1): 22-39 DOI: https://doi.org/10.3366/ajicl.2014.0078
OPEC Bulletin Commentary. 2016. OPEC embraces adoption of historic Paris Agreement on Climate Change. OPEC
Pickbourn LJ, Nkurunziza JD, Ndikumana L. 2022. Growing the good and shrinking the bad: Outputemissions elasticities and green industrial policy in commodity-dependent developing countries. UNCTAD Research Paper, No. 84 UNCTAD/SER.RP/2022/4
Sarangi GK. 2018. Green Energy Finance in India: Challenges and Solutions. ADBI Working Paper 863. Tokyo: Asian Development Bank Institute. https://www.adb.org/publications/green-energy-financeindia-challenges-and-solutions DOI: https://doi.org/10.1007/978-981-13-0227-5_4
Shihata IFI. 1980. Organization of the Petroleum Exporting Countries: Agreement Establishing the OPEC Fund for International Development, International Legal Materials. International Legal Materials, 19(4): 879-885. Doi: 10-1017/S0020782900039243 DOI: https://doi.org/10.1017/S0020782900039243
Smith Ernest E. 1993. International Petroleum Development Agreement, Natural Resources & Environment, International Natural Resources, Energy, And Environmental Law (Vol. 8, No. 2). American Bar Association, USA
Symon A. 2007. Petroleum And Mining In Southeast Asia: Managing The Environmental And Social Impacts, Southeast Asian Affairs. Iseas - Yusof Ishak Institute DOI: https://doi.org/10.1355/SEAA07D
UNCTAD (TDR). 2021. Trade and Development Report 2021: From Recovery to Resilience: The Development Dimension. Sales No.E.22. Ii.D.1. United Nations Publication, New York, USA
UNCTAD (TDR) 2019.Trade and Development Report 2019: Financing a Green New Deal. Sales No.E.19. II.D.15. United Nations Publication, New York, USA
United Nations Conference on Trade and Development. 2021. Trade and development report. From Recovery to Resilience: The Development Dimension. United Nations, New York, USA
United States Environmental Protection Agency. 2022. Global Greenhouse Gas Emissions Data. https://www.epa.gov/ghgemissions/global-greenhouse-gas-emissions-data
United Nations Conference on Trade and Development, Trade Agreements, Petroleum and Energy Policies. 2000. Executive Summary, United Nations, New York, USA
United Nation Climate Change. 2015. The Paris Agreement. United Nations Publication, New York, USA
United Nations. 2015. The Sustainable Development Goals. United Nations, New York, USA UNCTC. 1983. Main Features and Trends in Petroleum and Mining Agreements. UN Doc ST/CTC/29, 44-45
UNCTAD. 2021. Green industrial policies key for developing countries to adapt to climate change. https://sdg.iisd.org/commentary/policy-briefs/wto-members-assess-mc12-options-for-tradeenvironmental-sustainability-work/
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Meghna Singh, Dr. Mahendra Kumar
This work is licensed under a Creative Commons Attribution 4.0 International License.
With the licence CC-BY, authors retain the copyright, allowing anyone to download, reuse, re-print, modify, distribute, and/or copy their contribution. The work must be properly attributed to its author.
It is not necessary to ask for further permission from the author or journal board.
This journal provides immediate open access to its content on the principle that making research freely available to the public supports a greater global exchange of knowledge.
