Riding out the storm

Although another super-cycle can never be discounted in the oil industry, market analysts currently consider it unlikely that the oil and gas industry will ever experience the conditions that immediately preceded the 2008 financial crisis.

In that period, businesses were able to generate significant profits thanks to skyrocketing oil prices and significant global demand. As the green economy gains further traction, buoyed by political and societal support, inevitably oil and gas players will face challenges. It will not always be easy to preserve cordial relationships with joint venture partners, contractors, supply chains and host states.

Where tensions build, it will be essential to have the right methods in place to mollify friction and unease.

Organisations that are process-led tend to be extremely effective at managing disputes.
Phillip Ashley, Partner

With in-house legal departments becoming more integrated into the wider business, and with more targeted use of technologies and external counsel to predict and prevent disputes, businesses can be better prepared for the post-COVID climate.

Key contacts

Phillip Ashley
T +44 20 7367 3728
Valerie Allan
T +44 1224 267 149
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