- There are some important changes of substance between the Shell 2023 GTCs and the previous, 2010 editions of the Shell GTCs that parties contracting on the new GTCs should understand.
- Shell’s 2023 GTCs have been separated by delivery terms, each of which now addresses both crude oil and petroleum product sales.
- The drafting of the 2023 Shell GTCs is concise and user-friendly, incorporating images to aid the reader’s understanding of the terms and timeframes for performance.
Shell recently published its General Terms & Conditions for Sales and Purchases of Products and Crude Oil, 2023 Edition (the Shell 2023 GTCs). Shell’s previous 2010 GTCs were published as two sets of GTCs: one for sales of crude oil and one for sales of products.