Petroleum Contracts: English Law and Practice

Hardcover | August 27, 2016

byPeter Roberts

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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 fully updated new edition analyses the application of English law to contracts for project investment, financing, anddevelopment. The book provides practitioners and other parties with essential operational detail, as well as advising on the implications of English law on the interpretation of relevant provisions. The scope extends, unusually, beyond petroleum contracts made in the UK to cover all petroleumcontracts worldwide, delivering exceptionally extensive coverage of this ever-growing sector for an international market.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 generalcontract, 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 ofpetroleum 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 preliminarypetroleum 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 legaladvice 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.This new edition has been updated with new chapters on contract architecture and related issues and new sections on the Limitation Act and tolling, further assurances, quantum meruit and estoppel. Chapters have been updated in light of key cases on good faith and relational contracts, fiduciaryduties and consequential loss recognitions, amongst others. As English law continues to grow in international importance, this is a key text for practitioners in a number of jurisdictions who are looking to draft contracts or handle international transactions under the umbrella of Englishlaw.

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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 fully updated new edition analyses the application of English law to contracts for project investment, financing, anddevelopment. The book provides practitioners and other...

Peter Roberts is Partner with Orrick, Herrington and Sutcliffe (Europe) LLP.

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Format:HardcoverDimensions:496 pagesPublished:August 27, 2016Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0198723997

ISBN - 13:9780198723998

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Table of Contents

Preface1. English Law and Practice2. Contract Architecture and Interpretation3. Petroleum Contracts4. Preliminary Contracts5. Conditional Contracts6. Parties, Third Parties, Joint Ventures and Partnerships7. Equitable Rights and Remedies8. Commodity Sales Contracts9. Collateral Support and Security Interests10. Impossibility and Impracticability of Performance11. Damages for Breach of Contract12. Termination13. Liability Allocation14. Transfers of Interests15. Law and Disputes16. The Boilerplate