The concept of lex petrolea from a dispute resolution perspective: when further development is not possible

The argument has been made that there is a specialist body of law that has emerged from the practices of the international petroleum industry, a separate body of lex mercatoria, referred to as ‘lex petrolea’. The article examines the literature on this and the supporting arguments, ultimately rejecting them, since, among other reasons, the absence of a specialist dispute resolution platform that could ensure a continuous and coherent elaboration, application and interpretation of petroleum principles and customs is sufficiently serious to undermine academic and practical development of the concept.