Risk Allocation and Distributive Justice in the Energy Industry: Law, Policy and Practice

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Smith I Azubuike

Risk Allocation and Distributive Justice in the Energy Industry

Law, Policy and Practice

Smith I Azubuike

$219

Hardback

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English

Edinburgh University Press
07 January 2025

Energy & natural resources law; Environment law

This book examines the practice of risk allocation in the offshore energy industry through the public policy lens and offers a novel perspective on the concept of gross negligence in risk allocation. This perspective is founded on the proportionality element of distributive justice in burden distribution. The assessment of how mutual indemnity clauses apply as an absolute shield against liability arising from gross negligence reveals that moral hazard can result from the practice. In the analysis, this book considers the risk allocation practice in PSC and Concession regimes and how parties' liability is determined in drilling contracts. This book considers gross negligence a sui generis risk and provides a definitional pathway for determining when gross negligence occurs and how it should apply to offshore drilling contracts. Thus, it advances an environmental sustainability approach to offshore petroleum drilling operations. This book will be useful to operators and contractors, resource-rich countries, insurance companies, practitioners, scholars, and academics interested in risk allocation in the petroleum industry.

By: Smith I Azubuike
Imprint: Edinburgh University Press
Country of Publication: United Kingdom
Dimensions: Height: 234mm, Width: 156mm,
ISBN: 9781399517706
ISBN 10: 1399517708
Pages: 288
Publication Date: 07 January 2025
Audience: Professional and scholarly , College/higher education , Undergraduate , Further / Higher Education
Format: Hardback
Publisher's Status: Active

Smith I. Azubuike is Assistant Professor in Energy Law at Durham University.