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Downstream

Downstream refining and marketing of petroleum and petrochemical products is a dynamic business driven by the shift in economic prosperity of developing nations and changing energy demand patterns globally.

Many of the traditional downstream players are divesting their assets in developed markets, whilst new projects are beginning to be developed in the higher growth markets of Asia. Developments in the Middle East, particularly in petrochemicals (including ethylene, propylene, aromatics, acetyls and fertilizers), continue to generate significant opportunities.  All these factors make this an exciting industry to work in, and one that requires its advisers to have sector–specific knowledge backed up by a global resource capability. 

Allen & Overy has been at the forefront of this market, advising IOCs, NOCs and host governments, sponsors, funders (equity and debt), and contractors on market leading transactions globally.  

News & insights

Large oil rig in the ocean at dusk

News: 17 FEBRUARY 2021

Allen & Overy has advised on PT Pertamina (Persero)’s latest global offering of USD1.9 billion bonds under the company’s USD20 billion Global MTN Programme

Allen & Overy has advised the arrangers and dealers on PT Pertamina (Persero)’s global offering of USD1billion 1.40% bonds due 2026 and USD900million 2.30% bonds due 2031 under the company’s USD20bn…

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Close up of industrial valves

News: 09 FEBRUARY 2021

ANOH midstream gas processing plant in Nigeria – A&O advising the lenders

Allen & Overy has advised a consortium of banks on the USD260 million limited recourse debt financing to fund ANOH Gas Processing Company’s (AGPC) Assa North-Ohaji South (ANOH) midstream gas…

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City, sun reflecting from the glass buildings

Publications: 19 JUNE 2020

European Commission targets foreign subsidies causing market distortions

As part of a broader effort to reshape the EU’s trade policy, the European Commission (EC) proposes to expand its toolbox to tackle foreign subsidies undermining the level playing field in the EU’s…

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Crashing waves

Publications: 22 APRIL 2020

Private equity’s upstream journey

Private equity interest in the E&P industry soared in the wake of the 2014 oil price crash. However, renewed appetite for upstream assets was not only predicted on exploiting commodity cycles.

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