ABSTRACT
This chapter evaluates the legal and institutional frameworks adopted by states for the advancement of local content in the petroleum industry. At the legal level, it compares and contrasts the legislative approach with the contractual approach, highlighting the merits and demerits of each, as well as the circumstances under which they may be suitably applied in advancing local content. At the institutional level, the chapter analyses the strategy of furthering local content through national oil companies, which is quite popular with developing countries, and contrasts same with the administrative regulatory agency model, which is adopted by Australia, the United Kingdom, and Canada. Lastly, it scrutinizes the out workings of some of these strategies in the Brazilian and Norwegian petroleum industries.
