Contracts and The Great Stagflation
Article from: OGEL 4 (2009), in Contract Management, International Petroleum Contracts
Introduction
In the next few years, the oil and gas industry is likely to endure the most volatile market environment since the industry began, and that volatility is likely to make contracts or other agreements very difficult to negotiate and execute. While it is usually the case that oil and gas producers, consumers and related agents can create contracts and agreements that take account of all kinds of eventualities, such as oil price rises or pipeline cost reductions, still it is the case that complex contracts and agreements work best if prices and costs are relatively stable and ...