Region
High-income OECD
Income group
High income
Most populous city
New York City

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Disclaimer: Note that the following information is not part of the score that the country receives on the Investing Across Sectors indicators. This information is provided as complementary to the data on the foreign ownership restrictions, and is based on the survey respondents’ comments and assessments. The World Bank Group does not guarantee accuracy of this information.

Sector group:
Mining, oil & gas
Sector:
Oil and gas: A foreign company seeking to develop and exploit a medium-size gas or oilfield.
Market structure:
 
Survey respondents' answer to the following question, "Define the market structure in your economy for this sector."
Competitive market, i.e. Many firms
Regulatory license:
 
Survey respondents' answer to the following question, "If a foreign company wanted to obtain a sector-specific regulatory license (or a concession contract) to open and operate a new business in that sector, how likely would the government be to issue such a license, provided that the foreign company meets all legal and regulatory requirements?"
Very likely
Name of regulatory authority
Bureau of Land Management (Department of the Interior)
Additional comments:
Mineral Leasing Act of 1920. For the answer in the far left column we have assumed that the newly established company is a corporation under U.S. law. In addition, for both the answer in the left column and the answer in the right column we have assumed that the participating foreign company's home country is a 'reciprocital country' (see explanation below).

The Mineral Leasing Act bars foreign companies from directly acquiring leases under the Mineral Leasing Act. The Mineral Leasing Act does generally permit foreign companies to hold interests in leases granted under the Mineral Leasing Act by owning stock in a U.S. corporation that is otherwise qualified to hold such leases or interests therein, provided that 'citizens of another country, the laws, customs, or regulations of which deny similar or like privileges to citizens or corporations of this country, shall not by stock ownership, stock holding, or stock control, own any interest in any lease acquired under the provisions of this Act'. In other words, a certain degree of reciprocity is required. It appears that no countries are presently considered 'non-reciprocital'. In case the home country of the relevant investor would not be reciprocital: there have been judicial and administrative decisions limiting the scope of the prohibition to foreign companies that
(i) own stock in a lessee or applicant under the Mineral Leasing Act or
(ii) own a sufficient amount of stock in a parent corporation to control stock in a subsidiary corporate lessee or applicant.
There are foreign firms currently operating in this sector