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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 and insights

A cloudy sky seen through a modern metal sculpture

News: 13 March 2023

A&O advises the underwriters on the USD2.5bn IPO and listing of ADNOC Gas on the ADX - Abu Dhabi’s largest-ever market debut and the largest IPO globally to date this year

Allen & Overy has advised the underwriters on the initial public offering (IPO) and listing of ADNOC Gas Plc (ADNOC Gas) on the Abu Dhabi Securities Exchange (ADX).

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Inside of an ethylene cracker plant

News: 22 February 2023

Allen & Overy advises lenders on INEOS’ EUR3.5bn financing

London – A&O advised the lenders and export credit agencies on a greenfield project financing for the construction of an olefin complex in the Port of Antwerp, Belgium.

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Publications: 18 November 2022

UK sanctions against Russia: the pressure intensifies

The UK Government has introduced two further packages of sanctions against Russia in quick succession. 

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Reflection of clouds and sky on modern glass building

Publications: 19 October 2022

Introduction to the EU’s Emissions Trading System

The EU Emissions Trading System (the EU ETS) is one of the key pillars of the EU’s policy to combat climate change and to reduce greenhouse gas emissions from regulated sectors.

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