Middle East Economic Survey

VOL. LI

No 10

10-March-2008

MEES Agenda

Changing The Rules Of The Game

The issue of government appropriation of energy assets took center stage last week when further disputes with Venezuela over Caracas continuing efforts to takeover upstream oil projects became the topic of discussion at the OPEC ministers meeting in Vienna (see page 1). Venezuelas renationalization drive is just the latest example of a trend towards forced renegotiation of energy contracts around the...