(Source: IBA - International Bar Association) Back to Oil and Gas Law Committee publications Falling oil prices: is it possible to revise the contract price? Mercedes Romero, Pérez-Llorca, Madrid Luis López, Pérez-Llorca, Madrid The recent fall in oil prices and the possible effects on long-term energy contracts Some prices of long-term energy contracts (ie,gas, electricity, steam, etc) are connected to the oil market. One of the main features of the oil market during the 1990s was the relative stability of the long-term oil price.1 However, oil prices have fallen sharply since the middle of 2014. The fall has materially affected a wide range of energy companies, with many players forced to...
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