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Oil & Gas / Petrochemical

 
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Welcome to the Oil, Gas & Petrochemical Community.

Group Mission/Vision: Provide its members with insights to new trends and emerging practices in the fields of contracting, commercial and relationship management in the oil and gas sector. This community was started by the members of IACCM in the industry to talk about issues particular to them.

The Petrochemical, Oil and Gas Community of IACCM is a global group of contracts and commercial practitioners from companies in the Petrochemical, Oil and Gas industries. The Community will create and share knowledge, within legal and ethical boundaries. The group will provide help to solve problems raised by its members related to the activites associated with commercial and contract management in the Petrochemical, Oil and Gas industries. This will be done by sharing ideas, discussing challenges, exploring new directions and, where appropriate, initiating research or inviting experts to present on key topics in the oil and gas sector related to contract, commercial and relationship management. Since this is a highly regulated industry, please be mindful of that when making postings.

The Community will:

  1. Build a vibrant network of contracts and commercial practitioners in the Petrochemical, Oil and Gas industries.
  2. Offer networking events whenever possible to our community.
  3. Provide standards and best practices for use by our community.
  4. Provide Ask the Expert Calls.
  5. Review available training and provide quality IACCM training in the Petrochemical, Oil and Gas industries
  6. Provide Subject Matter Experts and a “body of knowledge” for our community.
  7. Provide breakout forums at IACCM conferences for Petrochemical, Oil and Gas industry subjects.
 
 
Community Updates

Bank guarantees in gas companies

I would like to know in which areas are oil and gas companies utilizing financial guarantees such as performance bond or parent company guarantee. The experience at other Major Oil companies is that these are mostly used for Major Capital projects where there is construction of facilities. For oil field services I have not seen it used that widely so looking to see if you have any supporting data/experience. It may also be region specific...i.e. European companies utilize them more than US based companies. • What else do companies usually use apart from 'performance bond' or 'parent company guarantees'? • What type of risks do these guarantees cover? In which circumstances? Thanks in advance. Alicia

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procurement,contract/commercial role

Hello, Is it a standard for Contract/ Commercial Manager /team in a Company to also handle procurement/purchases of items. Or do the Company need to have Manager/team for the procurement.

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Buyers & Risk

If buyers fail to understand the risks of post-contractual opportunism that can occur when they enter into long-term collaborative relationships, and if they allow suppliers to create high switching costs operationally, then the buyer may not receive the currently best available value for money deal in the market, but a sub-optimal offering from which it is difficult to exit. - The problem with win-win Why the notion of 'win-win' in collaborative long-term buyer-supplier relationships is as misguided as it is overused

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Community Members