mineral rights

(redirected from Oil rights)

mineral rights

The right to take things beneath the soil. One may sell land and mineral rights separately from each other,which works a severance of the interests.In some states,sand,gravel,and clay are not considered minerals, even if they exist below the surface. One frequently contentious issue is whether a grant of mineral rights includes the ability to take them by strip mining or other open-air operations,such as quarrying.(The answer differs from state to state and also depends on the precise language of the deed.)

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Among those still under negotiation was the state's oil rights which were being discussed directly by Prime Minister Tun Dr Mahathir Mohamad and the chief ministers of Sabah and Sarawak.
Permanent Representative of the Kingdom to the United Nations Ambassador Abdullah bin Yahiya Al-Mualami said that despite the protest notes addressed to the Government of the Islamic Republic of Iran and to the UN Secretary-General, Iran increasingly repeats violations and abuses through boats and vessels, in the Kingdom's waters and restricted areas of oil rights announced as its coordinates and explained on the global navigational maps, located in the territorial sea of the Kingdom and its exclusive economic zone, in the Arabian Gulf.
"The unified Lebanese position has had a significant impact in this regard, and it will continue to confirm that Lebanon has oil rights that it will never give up," the lawmaker told the Voice of Lebanon radio station.
He refused the policy of axes, which manifested itself in Iraq's commitment to the positive policy of neutrality and withdrawal from the Baghdad Pact and the issuance of the law (80), who returned to Iraq its oil rights, and its recognition of the national rights of the Kurdish people and issued for CCS and the law of the agrarian reform and many other .national achievements.
He further said: "No country can prevent Iran from restoring its oil rights and Tehran will never cease to persist in the strategy of regaining its oil market share."
It was the first time that a Japanese firm is acquiring a stake in overseas oilfields since another firm gained oil rights in Iraq in 2009.
A vote for independence would also raise uncertainty for national banking and oil rights, membership in the European Union and London's standing as a global financial capital.
would offer its assistance to establishing such boundaries, and that the plan would ensure oil rights were equally dispersed and Iraq would remain intact while putting strain on ISIS.
A board member of Brazil's state-run Petrobras lashed out at the government and said he may ask the country's securities regulator to sanction the oil company for failing to inform him and other board members of a 15 billion real ($6.8 billion) oil-rights purchase plan.Board members Silvio Sinedino and Mauro Cunha told Reuters that they knew nothing of a government plan to sell as much as 15.2 billion barrels of offshore oil rights to Petroleo Brasileiro, as Petrobras is formally known, until it was announced in a securities filing.Sinedino said he is considering a complaint to securities regulator CVM because of the government's heavy hand in the company's affairs under President Dilma Rousseff.
Production in February reached 3.5 million bpd, and Shahristani blamed the shortfall on the Kurds, who are at odds with the Iraqi central government over oil rights and stopped exporting via the national network more than one year ago.
But if Scotland decides to become independent and acquires the oil rights, field abandonment could be a big issue."