Mexico’s oil reforms: transparency now or never?

A few weeks ago we released the Spanish translation of Oil contracts: how to read and understand them, which we hope will bring some degree of clarity to the subject for our friends in Latin America and elsewhere. The publication is timely, coming just as one of the region’s most important petroleum producers, Mexico, pushes more »

Libya: oil and revolution – a tale of two generations

Young people started Libya’s revolution, young people fought and young people finished it. Now, almost two years after Tripoli’s liberation, their role in this new nation they helped create is unclear. Some of them have started radio stations to bring a little more exposure to the outside world. Others are active in a bustling civil more »

Category: Blogs, Contracts, Libya, OpenOil blogs · Tags:

Support the creation of open source financial models

We’ve just submitted a proposal to the Knight Foundation News Challenge, based on creating open source financial models for published contracts. Find out more about our proposal here — http://kng.ht/13UCfwJ – and if you think having access to open source spreadsheets, to help you and others model revenue flows based on key terms in oil more »

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Best practice as defined in Libya’s oil contracts

In case you were worried about best practice being followed in the oil industry around the world, we’ve been reviewing Libya’s contracts for some research and came across this, embedded in the main EPSA IV agreements between the Libyan state and all the major oil companies of the world. 1.33 Good Oilfield Practices means those practices, more »

(Re)-introducing OpenOil

Since our official beginning in September 2011, our way of fulfilling our mandate here at OpenOil has evolved considerably. The main principle is the same; we work on resource curse issues, trying to ensure that citizens of resource rich countries can see the benefits from their natural resources. However, despite beginning as a purely research more »

Petroleum Development Opportunities in Libya after the Arab Spring

Blog contributed by Jay Park, a partner at Norton Rose, and a contributing author of “Oil Contracts- How to read and understand them”. The echoes of the Arab Spring still resound in Libya.  At an oil conference I attended in Tripoli in late September, Libyan speakers began their presentations by honouring those who had been involved more »

Category: Blogs, Contracts, Libya, Middle East, OpenOil blogs · Tags:

How did we write a book in a week?

As you may already have seen, our “Understanding Contracts” booksprint was a success, and the book is now available for download from the OpenOil site. I had the chance to see the sprint from the start, and as you can imagine, it was a fascinating process.

Category: Blogs, Contracts, Oil 101, OpenOil blogs · Tags:

Oil Contracts- How to Read and Understand them- out now!

We are proud to announce that the first book about oil contracts for non-experts, “Oil Contracts – How to Read and Understand them” – is out now! Get your free copy of the book! It was written in a five-day booksprint by a group of corporate lawyers, government negotiators and development specialists. Please excuse typing more »

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Oil contracts in Uganda

Blog contributed by Lynn Turyatemba, a participant in next week’s contracts booksprint. Lynn is a lawyer by profession with a leaning towards social justice. She has for the last three years, while working with Africa Institute for Energy Governance (AFIEGO) as the Extractives Industries Governance Officer, worked closely with all stakeholders in the oil and more »

Upstream Petroleum Contracts: Where the “Rubber Hits the Road” in a Petroleum Regime

Blog contributed by Jay Park, a partner with Norton Rose, who will be one of the ‘sprinters’ in our booksprint initiative to write “How to Read and Understand Oil Contracts”. Zara Rahman’s recent blog post described OpenOil’s initiative to do a ‘booksprint’ to write a book about “How to Read and Understand an Oil Contract”.  more »

Why oil companies won’t get out of bed for less than 50 to 1

We often hear, in general terms, about how the oil industry is driven by the risk-reward dynamic. It lies behind the vexed question of what is a fair government and oil company take: governments say oil companies are ripping them off because they make billions on big fields, companies reply that they need those margins more »

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How to read and understand oil contracts

As some of you may know, at the end of October, we at OpenOil will be convening a group of world class experts to write a book on how to understand oil and gas contracts, aimed at the non specialist. We believe this will be the first book to open the process of oil and more »

Damn right it’s about the money!

So maybe our interest in contract negotiation business is about money after all. Last week, I read two different figures in such different contexts that at first I didn’t think to put them together. First, while sorting out some papers I was listening to an old lecture by Jeffrey Sachs from the middle of the more »

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