The Future of Contracts in the Energy Sector: A Legal Analysis of Smart Contracts within the Oil Industry

Candeias, Teresa De Jesus (2026): The Future of Contracts in the Energy Sector: A Legal Analysis of Smart Contracts within the Oil Industry.

Abstract

This paper investigates the legal challenges and potentialities arising from the implementation of smart contracts and blockchain technology in the oil industry. The research analyzes how these instruments may contribute to enhancing transparency, efficiency, and promptness in access to commercial data, as well as to simplifying regulatory compliance processes. Nevertheless, the study also examines the inherent limitations and risks of their adoption, including difficulties in contractual interpretation, the rigidity of pre-programmed rules, incompatibility with open-ended clauses, and the challenge of adapting to unforeseen circumstances.

• Item Type: MPRA Paper
• Language: English
• Keywords: Smartcontracts; Blockchain; Oil Industry; Petroleum Contracts; Upstream
• Subjects: K - Law and Economics > K1 - Basic Areas of Law > K12 - Contract Law; K - Law and Economics > K2 - Regulation and Business Law > K22 - Business and Securities Law; K - Law and Economics > K2 - Regulation and Business Law > K23 - Regulated Industries and Administrative Law; K - Law and Economics > K3 - Other Substantive Areas of Law; L - Industrial Organization > L7 - Industry Studies: Primary Products and Construction > L71 - Mining, Extraction, and Refining: Hydrocarbon Fuels

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