It gives me great pleasure to present the seventh issue of the
International Arbitration 1/3LY. In this issue, we take a look at
an industry which has seen some of the biggest challenges in the
global market over the last two years: oil & gas. Following a
prolonged period of oil price volatility, companies in the
upstream, midstream and downstream sectors have had to adapt their
businesses to the changing landscape, resulting in job losses and
cuts to projects. As we emerge from this downturn, we assess how
disputes have affected the industry and provide practical tips for
in-house lawyers to assist them in dealing with such issues.
Has the low oil price had an impact on the day-to-day issues
faced by in-house counsel? Has there been an increase in the number
of disputes in the oil & gas industry? We put these questions
to General Counsel of Total S.A., Maarten Scholten and find out how
life has changed inside Big Oil. We also take a look at the market
through the lens of a forensic accountant and discuss insolvency,
fraud and international disputes with Diane Hughes, Managing
Director at AlixPartners.
Elsewhere in this publication, partner Richard Power discusses
alternative dispute resolution mechanisms in price reopener
provisions with a detailed analysis of expert determination and
We also summarise recent case law and assess the implications
for the oil & gas industry: Richard Devine outlines what you
need to know about drop or drill and carry provisions; Stewart
Perry discusses the current position on the primacy of insolvency
law over agreements to arbitrate; and I take a closer look at
Finally, in a special report, we turn our attention to doing
business against the backdrop of political intervention and
sanctions. John Whittaker outlines practical considerations for
investing in Iran, with a discussion on the governing law and forum
for dispute resolution with Iranian counterparties; and Maurice
Kenton looks at upstream oil & gas disputes in Sub-Saharan
On behalf of Clyde & Co, I would like to express my
gratitude to Maarten Scholten and Diane Hughes for sharing their
expert opinions and providing us and our readers with a unique
insight into the oil & gas market. I also wish to thank my
colleagues from the firm's global arbitration group and oil
& gas group for their interviews and articles.
This new water mark makes clear that the EU is seeking to cut down on greenhouse gas emissions by replacing fossil fuel plants with new forms of renewable energy in line with the Paris Agreement on climate change.
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