Position vacant: unpicking energy’s hidden contract risks
Complex, long-term supply deals present job opportunity for risk managers
One of the first projects I worked on after my transition from the financial markets to the energy industry 25 years ago was a long-term (around 20 years) fuel-supply contract. Although some details have been lost in the sands of time, two things stand out: not only was it devilishly complicated (about 300 pages, including appendices) but, more importantly, it was losing close to five million dollars a month for reasons nobody could fully comprehend.
I was given the task of analysing the
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