ghazal ramezani sarbandi

The extractive industry in most developing countries is in conflict with the interests of its subjects (governments and investors) due to the growing global demand for fossil fuels. Efforts have been made to harmonize and diversify economic activities, investment policies, strengthen governance, public-private partnerships, raise public awareness, and improve general standards through binding and non-binding international regulations on transnational issues Which may lead to a moderation of the conflict of interest of oil-producing governments in developing countries and foreign investors. Imposing environmental and human rights obligations on international oil companies (IOCs) through bilateral investment treaties, transparency in the transactions and conduct of multinational corporations within the legal framework, and non-discrimination at all levels among investors are solutions based on judgmental procedure and the opinions of arbitral tribunals in achieving these goals have been suggested. This paper examines the legal personality of multinational oil companies, the challenges posed by international instruments and regulations, and finally offers mechanisms for adjusting these obligations between the parties.