Over the last 10 years, the oil and gas industry has experienced terrific highs and terrifying lows. The search for increasingly scarce energy resources has brought new players to the field competing on development projects with the well-known cast of regulars. Political tensions and internal state agendas have further complicated the exploration, development, transportation and marketing of these natural resources, and have contributed to the volatility of oil and gas prices. Oil and gas are increasingly used as bargaining chips between nations, and are even the subject of hostilities between countries. As a result of these competing pressures and interests, disputes between the major players and sovereign nations continue to arise before arbitral institutions.
This seminar will cover current topics in oil and gas international arbitrations including price revisions, the political and economic context of these disputes, and the key considerations in calculating damages. It will conclude with a roundtable discussion by in-house counsel on effectively managing and winning international arbitrations in the oil and gas sector