The UK Government has today (24 March 2021) announced its commitment to the landmark North Sea Transition Deal with the UK oil and gas sector. The deal provides a blueprint for Government and sector cooperation to decarbonise North Sea production in line with the Government’s net zero agenda. The Government’s announcement that future licensing rounds … Read more

For decades, pressure has been building on the energy sector to decarbonise. In 2020, we witnessed a paradigm shift in the sector. Offering investors a low carbon future Pressure to decarbonize has been driven by growing evidence and awareness of the link between burning hydrocarbons and climate change, and the prevalence of hydrocarbons in our … Read more

What are the key features of the Russian refining and petrochemical industry? While Russia takes a leading position in gas and oil production, the same cannot be said about the processing and petrochemical industry. Russia holds only 2.5% of the global refined products market. In 2019, roughly only 11% of gas and 50% of oil … Read more

“Take or pay” and “price review” arrangements are generally agreed for the benefit of both the seller and the buyer, to guarantee a regular income and supply. With market volatility, however, the parties may not agree on their operation or effect. Is a win-win outcome possible when these clauses bite? Rachel Lidgate and James Robson … Read more

Decommissioning was already a ‘hot topic’ before the oil price crash, with an increasing number of assets around the world expected to enter the decommissioning phase in the next few years. In the latest episode of our Navigating the Low Oil Price Environment podcast series Irina Akentjeva and Susan Field discuss how the low oil … Read more

The Court of Appeal has dismissed an appeal against a decision interpreting the provisions of a Farm-Out Agreement for the sale of an interest in two oil production licences: Apache North Sea Limited v (1) Euroil Exploration Limited & (2) Edison S.p.A [2020] EWCA Civ 1397. Herbert Smith Freehills LLP represented the successful defendants/respondents, Euroil … Read more

1. Plastics: a changing landscape Increasing awareness of the environmental impacts caused by human consumption has led to increased societal pressure on governments and industry to modify practices to lessen their impact on the environment. One area this has occurred which is of particular concern to downstream market participants, is single use plastics. According to … Read more

Supply chain difficulties are at the heart of pressures facing many businesses. How does low the oil price create supply chain pressure points, and what is being done and can be done to alleviate them? Our Construction Disputes specialists Craig Shepherd (Partner), Emma Schaafsma (Partner) and Karan Talwar (Associate) discuss how the oil and gas … Read more