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GLOSSARY

Downstream definition

/daʊnˈstriːm/

Published by a LexisNexis Energy expert

What does Downstream mean?

The ‘downstream’ segment of the oil and gas industry is loosely comprised of the processing/refining of petroleum (crude oil) and the processing and purifying of raw natural gas and condensates into marketable products the selling and distribution of natural gas and oil based products.

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EU Floods Directive 2007/60/EC—snapshot

EU Floods Directive 2007/60/EC—snapshot Key information Floods Directive Title Directive 2007/60/EC of the European Parliament and of the Council of 23 October 2007 on the assessment and management of flood risks (the Floods Directive) Entry into force 26 November 2007 (art 18) Transposition deadline 25 November 2009 (art 17) National transposition See Eur-Lex information on national transposition measures, as provided by Member States Amendments None Subject Flooding Purpose of the Floods Directive The purpose of the Floods Directive is to establish a common framework for assessing, managing and reducing the risk that floods, particularly along rivers and in coastal areas, pose to human health, the environment, property and economic activity in the EU. It provides for the assessment of the risk of flooding in river basins, the mapping of flood hazards and risks in all regions where there exists a serious flood risk and the drawing up of flood risk management plans by Member States. The Directive’s prevention and management measures are organised by river basin districts (which...

Waste duty of care—classification and coding

Waste duty of care—classification and coding Introduction The duty of care for waste under section 34 of the Environmental Protection Act 1990 (EPA 1990) (as variously amended) places an obligation on all ‘holders’ of waste to meet certain requirements that help to ensure protection of the environment from the point of waste production to its final recovery/disposal. One of the key requirements of the duty of care is to provide a written description of waste so that all waste holders can use this to ensure legal compliance with other aspects of the duty of care. For more information, see: Waste duty of care—overview. Special rules apply for dealing with hazardous waste or dealing with POPs waste (waste with a high level of persistent organic pollutants, ‘POPs’). For more information on POPs, see Practice Note: Persistent organic pollutants (POPs). The Waste Framework Directive 2008/98/EC (WFD 2008), Annex III lists the properties of waste that would render it hazardous. This Practice Note refers to EU legislation and...

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Ireland—Anti-slavery policy

General Modern slavery and human trafficking is a global crime which affects individuals and businesses worldwide. The risk to reputation and profit is real. Any organisation could be implicated in instances of exploitation and human trafficking if they do not make the necessary checks or take appropriate precautions. This Precedent Anti-slavery policy will help you ensure you have effective systems and controls to identify and avoid slavery. It includes recommendations from the following guidance: • Home Office: Transparency in Supply Chains, etc—A practical guide • British Standards Institute, BS 25700: 2022 Organisational responses to modern slavery guidance For further information about managing modern slavery and human trafficking risks see Practice Notes: How to manage modern slavery and human trafficking risk, Modern slavery risk management guide and How to prepare a slavery and human trafficking statement. Ireland—Anti-slavery policy Anti-slavery policy The Modern Slavery Act 2015 (MSA 2015 (UK)) is a UK Act which requires commercial organisations of a certain scale, and which are carrying on business or part of their business...

Data protection by design and default—policy

Data protection by design and default—policy 1 Data protection by design and default—the concept 1.1 Data protection by design and default (DPbDD) is a requirement of the UK General Data Protection Regulation (UK GDPR). 1.2 In essence, DPbDD involves considering data protection and privacy issues upfront in everything we do. This means we have to integrate or ‘bake-in’ data protection into our processing activities and business practices, from the design stage right through the lifecycle. 1.3 Taking a DPbDD approach when designing or reviewing projects, policies, products or systems will help us to: 1.3.1 ensure our actions are less likely to be intrusive or have a negative privacy impact on individuals; 1.3.2 identify privacy risks and requirements at an early stage—when addressing them will often be simpler and less costly; 1.3.3 increase awareness of privacy and data protection across the organisation; and 1.3.4 improve our general levels of compliance with data protection law. 2 DPbDD—key principles 2.1 [Insert organisation’s name] considers data protection issues as...

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In what circumstances do I really need to worry about commercial (or corporate) benefit?

In what circumstances do I really need to worry about commercial (or corporate) benefit? This Q&A explains when it is necessary to analyse whether an obligor in a banking transaction is receiving a commercial benefit (also called a corporate benefit) for participating in the transaction and why that might be important. For an explanation of how this matter arises in connection with guarantees which is the most common context in which the issue of commercial benefit arises in finance transactions, see Practice Note: Guarantees—commercial benefit. Summary Assessing whether an obligor in a finance transaction is receiving a commercial benefit is necessary where guarantees, third-party security or some other form of co-payment obligation is imposed on a party and that party is not the recipient of any funds being advanced either directly or indirectly eg by way of the borrower on-lending the money advanced to it. A lack of commercial benefit can invalidate a transaction or lead to it being challenged by shareholders or an insolvency officeholder. Consequences of...

Does a claimant have to follow the statutory compensation scheme for loss caused by flood defence works, or can an action can be brought in negligence?

Does a claimant have to follow the statutory compensation scheme for loss caused by flood defence works, or can an action can be brought in negligence? The starting point for loss and injury caused by flooding is that there is no common law legal right to be protected from flooding and its effects. At common law, landowners are primarily responsible for safeguarding their land and property from flood risks. The default legal position is that it is for landowners to adopt flood defences in order to protect their land. There are a number of bodies vested with statutory powers to manage flood risks, depending on whether these arise from the coast or rivers. The same basic legal principles will govern all flood defence works and this answer focuses on the powers of the Environment Agency (EA) under Part VII of the Water Resources Act 1991 (WRA 1991), as amended by the Flood and Water Management Act 2010. As regards certain rivers, the statutory body responsible for flood defences is the EA. WRA...

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Competition weekly highlights—22 May 2025

This week's edition of Competition weekly highlights includes, from a UK perspective: (1) the CAT issues judgment approving settlement in Mastercard collective damages action, (2) the government publishes its response regarding consultation on updating the media mergers regime, (3) the government publishes 2025 strategic steer setting out priorities for the CMA, and (4) the government publishes its response regarding consultation on the Enterprise Act 2002 (Mergers Involving Newspaper Enterprises and Foreign Powers) Regulation 2024. This week’s highlights also includes, from an EU perspective: (1) the Commission consultation on commitments offered by Microsoft in ‘Teams tying’ investigation, (2) three separate AG opinions concerning national references from Germany and Portugal suggesting sports governing bodies are limited in their self-regulation if there is a significant impact on matters governed by EU law, (3) an AG opinion recommending the Court of Justice should dismiss an appeal against the Commission’s decision to conditionally clear PKN/Gupto Lotos merger at phase II, (4) the Commission adopts proposals to sign EU-UK Competition Cooperation Agreement, and (5) the General...

EU Competition law—daily round-up (15/05/2025)

A round-up of EU competition law developments, including (1) an AG opinion recommending the Court of Justice should dismiss an appeal against the Commission’s decision to conditionally clear PKN/Gupto Lotos merger at phase II, and (2) three separate AG opinions concerning national references from Germany and Portugal suggesting sports governing bodies are limited in their self-regulation if there is a significant impact on matters governed by EU law.

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