Part I of the book comprises of two chapters that provide the scope and context for the ensuing sector analysis. This introductory part explores the underlying macroeconomic environment for Petroleum resources, institutions and politics. Analysis of both the empirical and theoretical literature on Petroleum resources forces the authors to review the concept of a “resource curse” and the conditions under which it is likely to prevail. The introduction then revolves to charting the evolution of the Petroleum sector in Tanzania. Here the book analyzes the contribution of Petroleum to Tanzania’s economy and reviews the evolution of the nascent value chain. The Part concludes by inviting reflections on the prospects and challenges for the sector in Tanzania.