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oil and gas sector continue to play out and are moving at a pace that quickly renders any commentary on the situation out of date.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
IBA Global Insight, Aug/Sept 2016 - A year ago, Global Insight assessed the impact of volatile energy markets, asking ‘what if the price of oil stays low?’ Here, we explore some of the answers, including how the sector’s response to the short-term shock could turn out well in the long run
Released on Aug 1, 2016
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.