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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

Publications: 25 FEBRUARY 2020

Oil and gas joint venture parties not bound by good faith or rationality when discharging operator

Parties to an unincorporated oil and gas joint venture were free to act in their individual best interests in deciding whether to discharge another party from its operator role.  No duty of good faith or rationality applied: (1) Taqa Bratani Ltd; (2) Taqa Bratani LNS Ltd; (3) JX Nippon Exploration and Production (UK) Ltd; and (4) Spirit Energy Resources Ltd v Rockrose UKCS8 LLC [2020] EWHC 58 (Comm).

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News: 06 FEBRUARY 2020

Allen & Overy advised APICORP on two facilities for an aggregate value of USD250m

Allen & Overy advised The Arab Petroleum Investments Corporation (APICORP), a multilateral development financial institution, on two facilities for an aggregate value of USD250m to Sonatrach Petroleum Investment Corporation (SPIC), a subsidiary of Sonatrach S.p.A., the Algerian state-owned national oil company.

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Landscape view of electricity pylons

News: 03 FEBRUARY 2020

Top rankings for A&O’s Projects, Energy, Natural Resources and Infrastructure group

A&O’s global Projects, Energy, Natural Resources and Infrastructure group has finished top of the IJGlobal and Dealogic league tables, making 2019 another highly successful year. 

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Pink and gold confetti

News: 07 JANUARY 2020

A&O rounds off 2019 with stellar performance in global M&A league tables

A&O has marked the end of Q4 2019 with a stellar performance in the M&A league tables; the result of advising on a number of complex, high-value transactions in a wide range of sectors and markets, around our global network in 2019. 

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