Corporate oil and gas transactions

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Introduction

This is an overview of the key content to be found in the Corporate oil and gas transactions subtopic. It briefly explains the nature of this content and provides links to it.

For more information on Oil and Gas licensing and regulation, see subtopic: Oil and gas licensing and regulation—overview.

Exploration and production (upstream)

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    Practice Note: An introduction to EU law and competition law issues for take-or-pay clauses in energy contracts introduces take-or-pay clauses in the energy sector and considers some of the regulatory and competition law issues regularly encountered when considering take-or-pay clauses in the energy contracts

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    Practice Note: Drafting take-or-pay clauses in energy contracts introduces the common features of take-or-pay clauses in energy contracts and provides some example clauses. It also considers the distinction between take-or-pay clauses and take-and-pay clauses

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    Practice Note: Take-or-pay clauses in energy contracts: the rule on penalties introduces the English Court’s attitude to take-or-pay clauses and a thorough consideration of take-or-pay clauses and the rule on penalties

  1. •

    Practice Note: Force majeure and frustration in offshore oil and gas drilling, decommissioning and service contracts

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Latest Energy News

Ofgem consults on licence modifications to implement RESP

Ofgem has launched a consultation on proposed licence modifications designed to implement the Regional Energy Strategic Plan (RESP). The focus is on four specific licence areas: the electricity system operator licence, the gas system planner licence, the standard conditions of the electricity distribution licence, and part D of the standard special conditions of the gas transporters licence. The consultation will close on 28 November 2025.

EA concludes consultation on radioactive waste disposal facilities guidance

The Environment Agency (EA), alongside with the Natural Resources Wales (NRW) and the Northern Ireland Environment Agency (NIEA), has concluded a consultation on updated guidance for regulating near-surface and geological disposal facilities for solid radioactive waste. The consultation, which ran from 12 November 2024 to 28 February 2025, invited stakeholders to comment on the draft Guidance on requirements for authorisation (GRA) for England, Wales and Northern Ireland and the Staged Regulation Guidance for England, with a separate Scottish consultation addressing near-surface disposal only. The updated guidance replaces the 2009 GRAs and 2012 supplements, providing concise, accessible requirements for environmental permitting, aligning with current UK government policy, international standards and regulatory experience, and clarifying the expectations for operators throughout the development, operation and closure of disposal facilities. A total of 43 responses were received from industry, public bodies and community stakeholders, all published with personal information removed, and these will inform amendments to the guidance, which is expected to be published in 2026 alongside a summary of consultation outcomes. The guidance supports the safe, secure and environmentally protective disposal of solid radioactive waste and reflects the agencies’ commitment to transparency, public engagement and consistent regulation across the UK.

Energy weekly highlights—16 October 2025

This week's edition of Energy weekly highlights includes: News Analyses on key insights from the Review of Electricity Market Arrangements (REMA) Summer Update and the UK government's Clean Energy Industries Sector Plan. We also cover several announcements from Ofgem, including: (1) publishing the Long Duration Electricity Storage (LDES) cap and floor financial model and accompanying handbook, setting out the financial framework applicable to LDES projects under Window 1 of the cap new subsidy scheme; and (2) and publishing two decisions approving the National Energy System Operator (NESO)'s proposed amendments to the terms and conditions related to balancing services in the power system. Also this week, the Welsh Government has published its strategic policy on carbon capture and storage (CCS), establishing a framework to support the deployment of CCS infrastructure.

No Set-Off Clause Effective Against Defence of Circuity of Action (Alaska Airlines v Virgin Aviation)

Commercial analysis: The court granted summary judgment in favour of Virgin Aviation (Virgin) on a claim for sums due under a contract with Alaska Airlines (Alaska), notwithstanding a defence of circuity of action based on a claim in unjust enrichment. The court found that the basis for the unjust enrichment claim was flawed as a matter of construction. However, in the alternative, the court held that the no set off clause would have precluded Alaska from relying on a defence of circuity to resist summary judgment. Written by Joshua Crow, barrister at One Essex Court.

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