The Contract of Purchase and Sale of Oil and Gas

Oil and gas are the main natural energy resources in the world. Their most important strategic importance for each country is that they are resources from which it is possible to produce fuel and receive energy. The Russian Federation is not an exception, our country is rich in natural resources. Proper use of energy resources, especially such as oil and gas, determines the strategic position on the world stage. In connection with the realities of the modern economy of Russia, it seems relevant to study the contract of sale of oil, gas and oil products as the main type of transactions carried out in the oil and gas sector, and the key problem of this study is the identification of the features of this treaty, the obligations arising from it, and public relations, which related and regulated by this agreement. The purpose of this study is to identify the specifics of the contract for the sale of hydrocarbons and oil products, which implies a detailed consideration of the contract with a special subject, as a transaction and as a written document in general. In the course of this research, a special conceptual apparatus was developed, the type of contract used for the purchase of oil was identified, gas and oil products were determined. Key features of the contract used for the sale of oil, gas and oil products were disclosed. The obligations arising from the contract used for the sale of hydrocarbons were considered.