Preliminary Scope for the Application of the Lex Petrólea in Peru

Abstract

In the following paper, the authors explore an alternative variation of Lex Mercatoria, the “LexPetrólea”, mentioning some of its rules and principles used in international arbitral jurisprudence. Furthermore, the authors encourage the addition of the “LexPetrólea” to our legal system, in order to nurture and complement the regulation of petrol operations by large enterprises in Perú. Thus, they analyze several proposals detailing the potential ways in which it could be incorporated and become applicable to contractual relationships related to petrol operations.