Oil, one of the world’s most traded commodities, presents many challenges, not least the close association between the oil price and the politics of some of the world’s most volatile regions. This instability continues to contribute to the high level of market speculation in relation to pricing and future availability.
We have many years of experience working with government owned producers, leading oil traders and energy multinationals, giving us critical insight into how to put together deals, assess risks and advise on trading issues and the financing, transport and supply of oil and gas. We advise on trading and operational disputes (quality and quantity, contamination, shortage), letter of credit disputes and contracts for physical sale and purchase.
Our derivatives practice has grown out of our traditional strengths in the international trading market. Management of commodity price, freight. Currency exchange and interest risks have become an everyday part of this sophisticated market. We also advise on a wide range of derivatives products. The energy sector continues to face many unique challenges. As global energy supplies have become scarce and competition for energy has increased the significance of energy trading has grown.
We thrive on helping our clients meet these challenges. Our pragmatic and commercial advice helps our clients succeed, finding solutions in difficult jurisdictions and getting deals done.
We provide support for traders in the global and European trading markets. We advise on long term contracts for sourcing energy and energy trading on and off exchange.
Our clients include oil and gas multinationals, power utilities, international trading companies, independents. banks and finance houses.
We have experience of advising on all energy and environmental products including power from conventional and renewable sources, gas. LNG, oil, coal and emissions allowances, traded on spot, and futures markets. We also advise on the associated infrastructure including pipelines, gas and power networks, refineries and storage facilities.
Our expertise in order to assist oil and gas trading clients in their activities, it is essential that our lawyers are experts in the areas of both shipping and international sale of goods; in the majority of situations when problems occur, issues arise both in relation to the underlying sale contract and the transport of the cargo concerned. A number of our partners and solicitors have, over the years, developed this dual expertise and are able to provide clients with the well-rounded, comprehensive advice they require. We advise clients on an extensive range of trading, shipping and trade finance issues including:
- quality determination, contamination and “off–spec” claims
- late shipment/delayed arrival
- letters of credit and documentary compliance
- demurrage under both charters and sale contracts
- bills of lading and LOIs
- contract negotiation and formation
- standard trading terms/GT&Cs
- crisis management and emergency response
- revolving credit facilities
- export prepayment financing facilities
- joint ventures
- safe port issues
- on- and off-shore storage contracts.