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Nicholas Ross-McCall


CMS Cameron McKenna Nabarro Olswang LLP
Cannon Place
78 Cannon Street
United Kingdom
Languages English

Nick Ross-McCall is a partner with over ten years’ experience representing sponsors and lenders on the development and financing of energy projects, both in the UK and globally. He focuses on upstream oil & gas (including reserve based lending where he has advised on deals including assets in most of the major oil & gas basins), and power projects, both thermal (including nuclear) and renewables.

Nick also has significant experience across the midstream and downstream sectors (including LNG, pipelines and petchems), of oil & gas M&A and commercial work (including field decommissioning arrangements), and of infrastructure projects (including PFI/PPP). He was seconded to the project finance team of a leading commercial bank in 2011-2.

Nick’s clients include oil & gas majors and independents, energy project developers, and commercial and international development banks. He has experience of all the major debt finance solutions available to E&P companies including corporate and reserve based senior facilities, junior debt, high yield/convertible/Norwegian bonds, prepayment facilities, structured/project finance facilities, and commodities trading. He also has expertise in multi-source financings and Islamic finance.

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“superb…capable of leading a complex project finance transaction”.

Legal 500, 2015


  • 2002 – M.A. (Law) (first class honours), Oxford University
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  • Nick has written extensively on energy finance matters with over ten externally published works including chapters on upstream finance in several practitioners’ guides (and in particular the upstream finance chapter in the current edition of Daintith and Willoughby, the leading UKCS legal practitioners’ guide). Nick has also written on oil & gas JOAs and decommissioning, LNG trading, the Incoterms and synthetic M&A structures in oil & gas transactions. He presents regularly at conferences.
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17 September 2019
CMS ad­vises Noreco in re­la­tion to the RBL debt fin­an­cing...
16 Mar 20
Up­stream (RBL) oil & gas fin­ance - Man­aging debt ex­pos­ure through...
Fol­low­ing dra­mat­ic falls in oil and gas prices in 2008-9, and 2014-6, the mar­ket is right now ex­per­i­en­cing a more un­ex­pec­ted shock driv­en by a myri­ad of factors, not least COV­ID19 and the OPEC meet­ing...
1 February 2019
CMS ad­vises in re­la­tion to the sale of a 50% stake...
20 May 19
Brazil: ANP res­ol­u­tion seeks to en­cour­age trans­fers of oil fields...
On 16 May 2019, the ANP pub­lished Res­ol­u­tion Nº 785 (Res­ol­u­tion) in­tro­du­cing new rules aimed at pro­mot­ing the trans­fer of in­terests in oil and gas fields and re­serve based lend­ing. This is an im­port­ant...
25 January 2019
CMS ad­vises seni­or lenders on Ver­us Pet­ro­leum’s RBL...
27 Jul 18
Oil and Gas - "Hanged on a Comma"? Punc­tu­ation in Fin­an­cing Agree­ments
Sum­mary In Vit­ol E&P Lim­ited v New Age (Afric­an Glob­al En­ergy) Lim­ited [2018] EWHC 1580 (Comm), the Com­mer­cial Court was asked to con­sider the re­la­tion­ship between a cor­por­ate lend­ing fa­cil­ity and a re­serve...
27 July 2018
CMS ad­vises cred­it­ors to Green In­vest­ment Group on...
10 Aug 16
Re­serve-based lend­ing fa­cil­it­ies com­par­at­ive study – debt and alive
In­tro­duc­tion and over­view Re­serve-based lend­ing (RBL) fa­cil­it­ies are the main means by which small and mid-sized in­de­pend­ent E&P com­pan­ies raise debt fin­ance to fund their up­stream oil & gas op­er­a­tions....
10 November 2017
CMS ad­vises GE and Macquar­ie Group on land­mark Nor­d­ic...
13 February 2017
CMS ad­vises Ned­bank in re­la­tion to a re­serve based...
13 January 2017
Ship­ping & Mari­time 2016
CMS Bel­grade: Con­fer­ence on the new PPA pack­age in...