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

Azubuike, Smith

Authors



Abstract

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.

Citation

Azubuike, S. (in press). Risk Allocation and Distributive Justice in the Energy Industry: Law, Policy and Practice. United Kingdom: Edinburgh University Press

Book Type Monograph
Deposit Date May 30, 2024
Publisher Edinburgh University Press
Pages 440
ISBN 9781399517706
Keywords Risk Allocation, Distributive Justice, Gross Negligence, Energy Industry, Offshore Contracts, Operator and Contractor.
Public URL https://durham-repository.worktribe.com/output/2468407
Publisher URL https://edinburghuniversitypress.com/book-risk-allocation-and-distributive-justice-in-the-energy-industry.html
Contract Date Mar 24, 2024