Legal analysis of the Independent Regulatory Agency in Iran's oil industry

Regulatory is used as one of the powers of governments to ensure the public interests of society and guide a part of an industry or a specific market. Therefore, regulatory as an effective approach for legislation and macro policy in the country's oil industry is very important. Because attracting foreign investment in the oil industry and creating a balance between the interests of host countries and foreign investors requires a legal framework. This article seeks to answer the question of which institution is responsible for regulatory in the oil industry and what are the regulatory models in the legal systems governing the oil industry and what are the advantages and disadvantages of each model. In order to find the answer, after explaining the competent regulatory authorities in the oil industry of the countries, including the Ministry of Oil or Energy, the National Oil Company and the Independent Regulatory Agency, the experience of different countries and the regulatory legal system governing Iran's oil industry and legal challenges of establishing an independent regulatory Agency in this industry were examined.