Source: Reuters

By Barbara Lewis

LONDON (Reuters) - International oil companies are looking to lawyers to fight their battles against a growing trend of resource nationalism as high prices and the lack of other opportunities raise the stakes.

At their disposal are some 2,300 bilateral investment treaties (BITs) and a multinational Energy Charter Treaty (ECT).

Foreign operators have successfully fought back against illegal expropriation by governments and may endeavor to prove resource nationalism -- producers seeking more control and revenue from foreign investors -- amounts to coercive seizure.

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Posted by pichu at December 7, 2006 11:55 PM