Decommissioning: beyond the challenges of oversupply, pandemic and recession

After weathering the storm that was the price collapse of 2014, the oil industry has again been hit in recent months by two new blows almost simultaneously: oversupply (caused by the failure of negotiations between Saudi Arabia and Russia to agree on production cuts and the aggressive response of the former); and a demand shock (reflecting the economic impact of the Covid-19 lockdown).


CMS: Intricacies of interim terms

Reviewing the past year is made much easier for me by our annual publication on legal developments in oil and gas, the latest edition of which came out in September.


A US privacy law would be good news for the UK oil and gas sector

The end of October was a busy spell in the world of data protection and privacy law. Facebook was fined £500,000 for data sharing with app developers in a way that wasn't transparent and secure. Morrisons was found liable in a group action raised by employees after a rogue employee stole employee data. However, controversially, the even bigger news was the speech by Apple's Chief Executive Tim Cook, praising the EU's General Data Protection Regulation (GDPR) and called for a US equivalent.

Oil & Gas

Opinion: Let’s talk money

Confidence and determination are important, but cash pays the wage bill. The industry has already witnessed some casualties of the downturn, and we are not out of the woods yet. What does “through cycle investing” really mean? First, let’s acknowledge that not everyone is in the same predicament. If you have a monopoly on an essential product or service you can boast how many requests for rate reductions you have politely declined or ignored. Some call these “begging letters”, but the form and substance varies widely. Some are well considered, with a tailored personal message from named senior executive to named senior executive. Perhaps even uncomfortably comparing published customer and suppliers profit margins!