ConocoPhillips’ acquisition of Burlington Resources may be an indication that the super majors are contemplating moving back into the US upstream energy sector, much of which has long since been taken over by independents.
In a very competitive environment where making profits means a combination of massive investments and keeping the fingers crossed for a favorable commodity price, national oil companies and international oil companies have been internationalizing their assets progressively and broadening across the oil and gas value chain.
Attorneys and the legal services they provide represent an essential element in the oil and gas industry, just as they do in the business community as a whole.
As the oil industry continues to benefit from record profits, high energy prices have created worldwide political difficulties for the industry. Not only have the higher prices boosted government revenues and provided some governments with a heightened sense of economic self reliance, but they have also made the oil industry an attractive political target in the eyes of the general public.
The New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards provides a recognized method for enforcement of international arbitration awards.
Everyone from Al Gore to George W. Bush concedes the need to diversify our energy resources, improve energy efficiency, and reduce the dependency of the United States on foreign oil supplies.
Independent Canadian oil and gas exploration company TAG Oil Ltd. has signed a conditional purchase and sale agreement to acquire 100% of Cheal Petroleum Ltd., PEP 38757 Ltd., and PEP 38758 Ltd. from parent company South Pacific Lease Operations Ltd.
