Alaska Round Supply Agreement

• Category: Corporations - Public - Supply
• State: Multi-State
• Control #: US-EG-9067
• Format: Word; Rich Text

Description

Round Supply Agreement between Republic Technologies International LLC, Lorain Tubular Company and USX Corporation dated August 1, 1999. 17 pages Alaska Round Supply Agreement (AREA), also known as the Alaska Regional Supplier Agreement, is a contractual agreement between oil companies to allocate production volumes and set certain conditions for supply within the Alaska region. This agreement plays a crucial role in the efficient and organized functioning of the oil industry in Alaska. The primary purpose of the Alaska Round Supply Agreement is to establish a framework for the equitable allocation of oil production from various fields in the region. It ensures that each participating oil company receives a fair share of the produced oil, avoiding disputes and promoting stability. Through this agreement, the participants agree upon the proportion of oil each company will supply to the market, taking into consideration factors such as field ownership, investment, and infrastructure. There are several types of Alaska Round Supply Agreements, each tailored to meet specific requirements and address unique challenges within the region. Some noteworthy types include: 1. Alaska Native Regional Corporations (ARC) Supply Agreements: These agreements involve partnerships between oil companies and Alaska Native Regional Corporations. They ensure that the indigenous communities have a voice in the allocation and distribution of oil production, leading to mutually beneficial outcomes. 2. Joint Venture Supply Agreements: In situations where multiple oil companies collaborate in joint ventures for oil exploration and production, this type of agreement outlines the supply and distribution responsibilities of each participant. It provides the necessary guidelines to prevent conflicts and ensure fairness among the joint venture partners. 3. Long-Term Supply Agreements: These agreements establish a fixed-duration contractual relationship between oil companies and purchasers, such as refineries or petrochemical facilities. They offer a stable supply arrangement, commonly spanning several years, which allows both parties to plan their production and operations efficiently. 4. Transportation and Storage Agreements: Apart from allocating production volumes, Alaska Round Supply Agreements may also include provisions related to transportation and storage of oil. Such agreements define the responsibilities, capacity limits, and costs associated with the transportation and storage infrastructure within the region. In conclusion, the Alaska Round Supply Agreement is a crucial mechanism that ensures fair distribution and allocation of oil production in the Alaskan oil industry. By establishing guidelines and obligations for participants, it facilitates harmonious collaboration and supports the region's overall economic and social development.

Alaska Round Supply Agreement (AREA), also known as the Alaska Regional Supplier Agreement, is a contractual agreement between oil companies to allocate production volumes and set certain conditions for supply within the Alaska region. This agreement plays a crucial role in the efficient and organized functioning of the oil industry in Alaska. The primary purpose of the Alaska Round Supply Agreement is to establish a framework for the equitable allocation of oil production from various fields in the region. It ensures that each participating oil company receives a fair share of the produced oil, avoiding disputes and promoting stability. Through this agreement, the participants agree upon the proportion of oil each company will supply to the market, taking into consideration factors such as field ownership, investment, and infrastructure. There are several types of Alaska Round Supply Agreements, each tailored to meet specific requirements and address unique challenges within the region. Some noteworthy types include: 1. Alaska Native Regional Corporations (ARC) Supply Agreements: These agreements involve partnerships between oil companies and Alaska Native Regional Corporations. They ensure that the indigenous communities have a voice in the allocation and distribution of oil production, leading to mutually beneficial outcomes. 2. Joint Venture Supply Agreements: In situations where multiple oil companies collaborate in joint ventures for oil exploration and production, this type of agreement outlines the supply and distribution responsibilities of each participant. It provides the necessary guidelines to prevent conflicts and ensure fairness among the joint venture partners. 3. Long-Term Supply Agreements: These agreements establish a fixed-duration contractual relationship between oil companies and purchasers, such as refineries or petrochemical facilities. They offer a stable supply arrangement, commonly spanning several years, which allows both parties to plan their production and operations efficiently. 4. Transportation and Storage Agreements: Apart from allocating production volumes, Alaska Round Supply Agreements may also include provisions related to transportation and storage of oil. Such agreements define the responsibilities, capacity limits, and costs associated with the transportation and storage infrastructure within the region. In conclusion, the Alaska Round Supply Agreement is a crucial mechanism that ensures fair distribution and allocation of oil production in the Alaskan oil industry. By establishing guidelines and obligations for participants, it facilitates harmonious collaboration and supports the region's overall economic and social development.