Comparative study on the ownership and sovereignty of the state oil and gas resources

History of oil contract and national movments always has been associated with remaining of ownership of oil and gas resources for host government and oil Companies that are reperesentative of Capital-exporting countries just have obligation against host government for their contractual obligations. These concerns have led to restrictions on ownership of foreign oil companies on oil and gas resources, particularly in the Middle East region (Lo, 2003, p30). Sovereignty of state on these resources is equal to prevention of explotation of other countries on these resources and it gives the owner of resources an exclusive right. In this paper by surveying Iran's regulations, international law, Arbitration awards and Opinions of religious jurists, finally we will see that all of these sources agree on the host government's ownership on these resources and for foreign companies also right to compensation is recognized.