scholarly journals An Overview of the New Competition Law: Issues for the Oil and Gas Industry

1987 ◽  
Vol 26 (1) ◽  
pp. 59
Author(s):  
Lawson A. W. Hunter ◽  
John F. Blakney
Keyword(s):  
Joint Ventures ◽  
Oil And Gas ◽  
Competition Law ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Dominant Position ◽  
Abuse Of Dominant Position ◽  
Restraint Of Trade

This paper reviews the major changes to Canada's competition law enacted in 1986, including new merger and abuse of dominant position provisions, the establishment of a Competition Tribunal, mandatory pre-notification of certain transactions, and revisions of the prohibition against agreements in restraint of trade. Special attention is given to joint ventures, export agreements and vertically integrated resource companies.

scholarly journals Competition Law Issues in the Upstream Oil and Gas Industry

1993 ◽  
Vol 31 (1) ◽  
pp. 72
Author(s):  
Harry Chandler
Keyword(s):  
Law Enforcement ◽  
Oil And Gas ◽  
Competition Law ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Restraint Of Trade ◽  
Enforcement Policies

The Competition Act has many implications for Canada's oil and gas industry. To assist the industry in understanding the application of the Act, the author reviews the treatment of horizontal agreements in restraint of trade and describes some of their statutory and jurisprudential defences. The enforcement agency's Program of Compliance and current law enforcement policies are also detailed.

How to avoid aches and pains in your joint ventures

2016 ◽  
Vol 56 (2) ◽  
pp. 559
Author(s):  
Brent Steedman
Keyword(s):  
Joint Ventures ◽  
Joint Venture ◽  
Oil And Gas ◽  
Cost Savings ◽  
Oil And Gas Industry ◽  
Capital Allocation ◽  
Operating Efficiency ◽  
Global Business ◽  
Gas Industry ◽  
The Right

The Australian oil and gas industry is in a period of substantial challenges, including a significant decline in oil prices, fluctuating spot gas prices, a relentless drive for operating efficiency, and tight capital allocation, together with increased regulatory scrutiny and a reputation for below-standards productivity. On the upside, these market challenges provide significant opportunities for companies to bring in new investors, implement new operating models, apply innovation to update processes and practices, and restructure activities. Making material step-changes, requires companies to review, amend, and update joint venture operating agreements (JVOAs). KPMG has worked with many of Australia’s leading oil and gas companies on a range of joint venture engagements. This extended abstract outlines why JVOAs need to be reviewed with respect to the following key opportunities and challenges: Fast-changing global business operating models. Available cost savings by eliminating inconsistent management and operating models between joint ventures. Planning for potential restructuring, including separation of infrastructure (e.g. plants, pipelines, support) from reserve ownership. Sharing of services (e.g. maintenance and logistics) between unrelated joint ventures. Transparency of costs and asset performance. Improved joint venture governance (not more or over-governance) between participants to attract investment. Effective resourcing, noting the right transition of capabilities between deal-makers and joint venture operators. With this extended abstract the authors aim to provide ideas for consideration. Each of these ideas will impact JVOAs. The authors’ proposition is that now is the right time to complete a comprehensive review of JVOAs to enable organisations to move fast as new and innovative opportunities arise.

scholarly journals KAZAKH-TURKISH RELATIONS: TRADE AND ECONOMIC ASPECT

2021 ◽  
Vol 68 (1) ◽  
Author(s):  
А.Е. Ibrayeva ◽  
Keyword(s):  
Central Asia ◽  
Joint Ventures ◽  
Soft Power ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Legal Framework ◽  
International Markets ◽  
Present Stage ◽  
Gas Industry ◽  
Solid Foundation

The article examines the trade and economic cooperation between the two countries at the present stage. Given the fact that Turkey is actively expanding its presence not only in Kazakhstan, but also in Central Asia, this issue is of urgent importance.Turkish business is represented in various sectors of the Kazakh economy: construction, transport, and communications. At the same time, we note that Turkey invests in the strategic sectors of our economy. Joint-stock companies and joint ventures have been established that produce products for domestic and international markets. Over the years, a legislative and legal framework has been formed in all areas of cooperation. The Turkish presence is noticeable not only in Kazakhstan, but also in Central Asia. Ankara has managed to put economic and humanitarian cooperation between our countries on a solid foundation. Among the priorities of Turkey's "soft power" are joint projects in the oil and gas industry, education and culture

scholarly journals Securities Aspects of Specialized Financing

1981 ◽  
Vol 19 (1) ◽  
pp. 43
Author(s):  
Bruce R. Libin
Keyword(s):  
Joint Ventures ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Securities Law ◽  
Flow Through ◽  
Limited Partnerships ◽  
Capital Intensive ◽  
Equity Securities

This paper reviews the securities aspects of specialized financing that is, increasingly, required to mount the capital-intensive projects being un dertaken by the oil and gas industry. It reviews selected aspects of securities law, and factors to consider in the utilization of the "quasi-equity' securities of joint ventures, 'deduction flow-through* share offerings, and limited partnerships.

scholarly journals Fiduciary Relationships in Oil and Gas Joint Ventures

1970 ◽  
Vol 8 (2) ◽  
pp. 233 ◽  
Author(s):  
D. A. MacWilliam
Keyword(s):  
Joint Ventures ◽  
Joint Venture ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Fiduciary Duty ◽  
The Other ◽  
Gas Industry ◽  
Full Disclosure ◽  
Fiduciary Relationships ◽  
The Many

A party to a joint venture agreement in the oil and gas industry is often faced with the problem of determining whether or not he owes a fiduciary duty to his joint venturer. This article examines the many factual situations in oil and gas joint ventures which, could give rise to a fiduciary duty and concludes that the extent to which the fiduciary principle is applicable to various relationships involving interests in oil and gas has not yet been determined by the courts. As such, the author suggests that in addition to attempting to provide in the agreement for those circumstances which could give rise to a fiduciary duty, a party to a joint venture who desires to avoid a breach of a fiduciary duty should make full disclosure to and attempt to get the consent of the other contracting party.

Three Stages of Justice in the Fossil Fuel Industries

2021 ◽  
Vol 2 (2) ◽  
pp. 136-163
Author(s):  
Mohammad Hazrati
Keyword(s):  
Fossil Fuels ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Energy System ◽  
Current Data ◽  
Gas Industry ◽  
Dominant Position ◽  
Theory Of Justice ◽  
Zero Carbon ◽  
Energy Justice

The importance of assessing energy industries through a justice framework has widely become recognised in recent years. Creating and using the energy justice framework by different scholars is a manifestation of this recognition. Much of the scholars' attention is, however, currently being applied to the energy justice framework on the renewable energy industry and attempting to design a ‘perfect’ and ‘just’ energy system. This author believes, as set out in this article, that a theory of justice must address and reduce injustices in any circumstances, rather than aiming only at the characterisation of so-called ‘perfect justice’. Over-emphasising on a zero-carbon future and overlooking the present reality means that we accept many other injustices that are associated with fossil fuels until the time when we can dispose of fossil fuels, which are ‘future-uncertainty’. In this article, the author, by analysing current data and information regarding the production of oil and gas and its consumption and reserves, as well as different scenarios towards the future of energy, argues that the dominant position of fossil fuels is not going to change anytime soon. Based on this reality, and recognising what are considered to be some inherently unjust features of the oil and gas industry, the author proposes three complementary stages for justice in the oil and gas industry; a perfect and just energy system that has zero-carbon and is decentralised is the final stage. The second stage is fair energy transitions, which emphasises a ‘just transition’ towards that desired future. The first stage, however, which is often overlooked, is applying the energy justice framework in the oil and gas industry to identify any injustices that can be reduced or limited.

scholarly journals Area of Mutual Interest Agreements and Canadian Competition Law Considerations

2016 ◽  
Author(s):  
Frank Alexander ◽  
Erik Arnold
Keyword(s):  
United States ◽  
Oil And Gas ◽  
Technical Information ◽  
Competition Law ◽  
Oil And Gas Industry ◽  
Case Law ◽  
The United States ◽  
Gas Industry ◽  
Mutual Interest ◽  
The Subject

Area of Mutual Interest Agreements (AMIAs) are a common feature within the Canadian oil and gas industry. These agreements are usually entered into for the purposes of sharing technical information between two or more parties. This article explores the implications of the various types of AMIAs in relation to the Competition Act. While there is essentially no applicable Canadian case law on the subject, this article examines the potential civil and criminal penalties that the Competition Act may impose. In addition to detailing the statutory landscape in Canada, this article looks at how this issue has unfolded in the United States.

scholarly journals A Practical Guide to Competition Act Compliance in the Oil and Gas Industry

2008 ◽  
Vol 45 (3) ◽  
pp. 691 ◽  
Author(s):  
John Lowman ◽  
Susan Boughs ◽  
Jo'Anne Strekaf ◽  
Beth Riley
Keyword(s):  
Oil And Gas ◽  
Competition Law ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Practical Guide ◽  
Compliance Programs ◽  
Practical Guidance ◽  
The Impact

Compliance with the Competition Act is important to the oil and gas industry. The authors provide an overview of select issues under the Act and practical guidance on how to manage these issues. The article provides a framework for the oil and gas industry to use in dealing with competitors, customers, and the Competition Bureau. The authors provide an overview of competition law compliance programs and note the impact of regulation.

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