The discovery of significant hydrocarbon reserves in 2007 heralded a new era for Ghana’s economic fabric. As the oil and gas industry wove its narrative into Ghana’s development story, there is a need to understand the intertwined dynamics of government policy, existing legislation, and potential legislative shifts. This article delves deep into the short-to-medium term landscape of the oil and gas industry and concludes with insights into an aim to secure a sustainable future for Ghana’s oil and gas industry.
Released on Oct 2, 2023
Ghana is heavily reliant on its hydrocarbon resources for generating income. While there is continuing demand for energy resources, there is also a call for reductions in emissions and the petroleum sector is under pressure to clarify how energy transitions will affect its activities and organisational frameworks, as well as explain the ways in which it can contribute to mitigating greenhouse gas emissions. This transition to renewable sources has an impact on the petroleum market in Ghana as the landscape for oil and gas companies has profoundly shifted due to the countries and international organisations establishing climate change obligations. The effect of the transition is however yet to be greatly felt within the jurisdiction as hydrocarbons remain a major focus.
Released on Oct 2, 2023
The introduction of the competition framework is reshaping how oil and gas transactions are operated in Angola. Although recent practice by the Angolan Competition Authority appears to be consistent, a formal position can help to bring clarity. Parties should adjust completion conditions accordingly to strike the right balance between execution and compliance risks.
Released on Oct 2, 2023
Energy transition is a high priority on the European Union’s agenda. It has led to Italy introducing a radical reform to its energy supply system. This has taken place in the threefold political and regulatory direction of maximising the use of renewable energy sources, increasing domestic natural gas production and reducing the use of hydrocarbons.
Released on Oct 2, 2023
In the last few years, we have experienced changes making it possible for CEOs to create sustainable business strategies in emerging markets. The question has been: how can an Oil and Gas General Counsel (GC) influence news or updated business strategies – namely when going to Angola or to Sub-Saharan Africa and create successful new joint ventures or a local supplier development model? Legal roles have transformed from a legal advisor to a business partner. There is a need to transform current business strategy.
Released on Sep 13, 2023
In the current global context, caused by the spread of SARS-CoV2 coronavirus, the oil and gas sector is facing a massive challenge, the scale of which is still to be seen. The coronavirus pandemic, and the drastic measures taken worldwide to counter the spread of coronavirus infections, has strongly affected oil demand demonstrated by a price war between Riyadh and Moscow and the price of oil barrels dropping significantly.
Released on Mar 8, 2020
At the time of writing (early March), the economic and practical impacts of coronavirus on the oil and gas sector continue to play out and are moving at a pace that quickly renders any commentary on the situation out of date.
Released on Mar 8, 2020
This article discusses the impact of the Covid-19 pandemic on the Nigerian oil industry by presenting the current situation and comparing it to other states in the same region.
The four categories that subsoil users’ court disputes often fall into are: tax, customs, ecological and contractual. The vast majority of these cases involve investment disputes between investors and government agencies in the course of investment activity. The following article analyses court practice in Kazakhstan in recent years to identify trends in resolving disputes over contractual obligations.
This article analyses the royalties that upstream companies operating in the deep offshore are now required to pay, particularly upstream companies who operate at water depths of greater than 1,000 metres. It explains what upstream companies will have their contracts reviewed as a result of stabilisation clauses in their agreements, and the reason why some IOCs will not have the same benefit. It also examines the introduction of the payment of withholding tax on dividends of shareholders
Oil companies need to find alternatives to reinvent their business and ensure their future when fossil fuels become less important as an energy source. Finding synergies, integrating renewable energy with their developments and resorting to other effective solutions are likely to enable achievement of energy transition goals. As offshore wind power generation emerges as a promising alternative, synergic with oil and gas activities, Brazil offers great potential and opportunity for players in that segment.
The United Nations Convention on the Law of the Sea (UNCLOS) restricts the maritime sovereignty of coastal countries regarding their rights to explore natural resources. According to UNCLOS, jurisdiction goes up to 200 nautical miles, with the possibility to be extended up to 350nm after approval by a UN commission. Brazil has requested such extension, but it has not been fully granted yet. Nonetheless, Brazil decided to include oil and gas exploration and production areas beyond the 200nm in the next bid
This article analyses the main legal issues facing the oil and gas industry in Kazakhstan, detailing how it is possible to achieve comfort and positive law enforcement for investors, and where legislation still needs to be significantly improved.