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Petroleum Contracts: English Law and Practice

Petroleum Contracts: English Law and Practice

Author: Peter Roberts
Publisher: Oxford University Press
ISBN: 9780199659784
Published In: May 2013
Format: Hardback , 496 pages
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Explains the relevant principles of English law as they are applied to and used in the key provisions of petroleum contracts worldwide
Highlights the unique commercial and technical features that set petroleum contracts apart from general commercial contracts
Combines a practical, sector-focused approach with the detailed analysis and comprehensive referencing to provide an accessible and in-depth resource
Sets out the governing legal principals, chapter by chapter, before demonstrating their application with extensive examples to aid practitioners in their research

In response to the primacy of English law as the lingua franca governing petroleum transactions, and the increased global demand for new sources of oil and gas, this work analyses the application of English law to contracts for project investment, financing, and development. The scope extends, unusually, beyond petroleum contracts made in the UK to cover all petroleum contracts worldwide, delivering exceptionally extensive coverage of this ever-growing sector.

This book covers the essential operational detail practitioners and parties need, as well as advising on the implications of English law on the interpretation of relevant provisions.

This work is a stand-alone practical guide on the application of English law to petroleum contracts, and provides a detailed and scholarly level of analysis, with reference to all relevant contracts and case law. Beginning with an introduction to the English legal system and the law of general contract, the author goes on to distinguish those characteristics that set petroleum contracts apart from others, including distinction between upstream, midstream, and downstream agreements. The contracts considered include those for the financing, management, sale, purchase and exchange of petroleum assets and interests (collectively called interest contracts), and contracts for the management, sale, purchase and exchange of petroleum quantities and petroleum storage, transportation and capacities (collectively called commodity contracts). Subsequent chapters introduce preliminary petroleum contracts and the obligation to negotiate, conditions precedent and subsequent, joint ventures, and the involvement third parties and the implications for privity in this context. Breaches and doctrines triggered by the impossibility of performance are set out in detail, alongside legal advice on damages, termination, liability allocation and equitable remedies. All relevant provisions are analysed in a final chapter of miscellaneous analysis, ensuring a truly comprehensive treatment of the sector.

Readership: Practitioners and academics specializing in the energy sector (oil companies, utilities, government, law firms) from both inside and outside the UK; financiers and commercial managers of petroleum contracts; energy law students; reference libraries in the UK and across the globe.

1: Introductory Principles
1: Principles of English Law and Petroleum Contracting
2: Contract Formation
3: Joint Ventures
4: Third Party Involvement
5: Trusts and Fiduciary Duties
6: Commodity Contracting
2: Operational Principles
7: Finance and Security
8: Impossibility of Performance
9: Breach of Contract
10: Termination
11: Liability Allocation
3: Administrative Principles
12: Transfers of Interest
13: Law and Jurisdiction
14: Miscellaneous

Peter Roberts, Partner, Energy, Transport and Infrastructure Group, Ashurst LLP

Peter Roberts is a partner with Ashurst LLP based in London, with a particular focus upstream and midstream oil and gas project development, financing and M&A. He has advised clients across a wide range of jurisdictions, including Asia, Africa, Europe, and South America. He is a past chairman of the International Bar Association (IBA)'s oil and gas law committee, a past general editor of the "International Energy Law Review" (IELR), and is presently the general editor of the "Journal of World Energy Law and Business" (JWELB), published by the Association of International Petroleum Negotiators (AIPN) and the Oxford University Press. Prior to joining Ashurst, Peter was the General Counsel for Centrica Energy, in London, and has previously worked for other leading law firms in London, Hong Kong and Singapore.