Although the European Union has talked about reducing its heavy reliance on Russian gas for years, the ongoing crisis in Ukraine has injected new urgency into the effort. But it won't be easy, energy project finance experts say, with plenty of political, legal and regulatory hurdles to overcome.
Oil tanker giant Overseas Shipholding Group Inc. asked a Delaware bankruptcy judge late Wednesday for the green light on a $935 million exit-financing package from Goldman Sachs Bank USA that the debtor calls the “final pillar” of its strategy to emerge from Chapter 11 protection.
The Florida Department of Environmental Protection on Thursday said it will not rescind a challenged permit for oil and gas drilling in southwest Florida that it granted to a Texas company last year, despite an advisory committee's finding of several issues with it.
As U.S. and European Union officials meet with their Ukrainian and Russian counterparts to ease the region's ongoing tension this week, momentum is building on both sides of the Atlantic to again expand sanctions on Russia, with EU lawmakers putting the nation's energy sector in their crosshairs.
The U.S. Environmental Protection Agency failed to meet Thursday's court-ordered deadline to finalize a long-delayed cooling water-intake rule for power plants, and the environmental group suing the agency over the regulation refused to give the agency more time.
A Texas appeals court on Tuesday refused to revise a recent decision that accused attorneys with Gardere Wynne Sewell LLP and a solo practitioner of violating ethical rules by raising a frivolous argument in a lease dispute involving an oil field saltwater disposal company.
Irish renewable energy investment group NTR PLC said on Thursday that one of its U.S. subsidiaries, Wind Capital Group LLC, has agreed to sell the 150-megawatt Osage wind farm in Oklahoma to TradeWind Energy Inc. for about $60 million.
The U.S. Securities and Exchange Commission on Thursday accused a former BP PLC employee of trading shares of the energy giant during the 2010 Deepwater Horizon oil spill based on inside information about the extent of the disaster.
An Ohio federal judge on Wednesday ruled that natural gas well owner Equitable Production Co., now known as EQT Production Co., must defend its drilling subcontractor in settled litigation over alleged fracking fluids contamination, finding that the drilling contract requires EQT to defend against any contamination claims.
The U.S. Department of Energy said Wednesday that it's putting up $15 million to help U.S. communities install more solar power at homes and businesses, part of the Obama administration's goal of doubling U.S. renewable energy generation by 2020.
BP America Production Co. said Wednesday it was going to sell 280,000 gross acres of gas-producing land in the Texas Panhandle, saying the mature field was better suited for a late-life specialist.
Patton Boggs LLP, which Chevron Corp. accuses of perpetrating a scheme to shield evidence that a $19 billion judgment in litigation in Ecuador was obtained illegally, has enlisted experienced white-collar attorney Elkan Abramowitz of Morvillo Abramowitz Grand Iason & Anello PC in its New York federal suit, he confirmed Wednesday to Law360.
El Paso Corp. urged a Delaware Chancery judge Wednesday to toss an investor's derivative suit that claims a group of limited partners were soaked for $300 million in an overpriced $1.9 billion liquid natural gas deal, saying the transaction was a sound business judgment approved in good faith.
The U.S. Environmental Protection Agency said Wednesday the greenhouse gas permit issued to Equistar Chemicals is the first ever drafted by the Texas Commission on Environmental Quality, as the agencies work together to transition GHG permitting to the state and clear a backlog of requests.
A California federal judge on Tuesday tossed a Chinese foreign national’s $5.17 billion suit alleging China Petroleum & Chemical Corp., known as Sinopec Corp., colluded with the Chinese government to falsely imprison him, ruling the court did not have jurisdiction over the claims.
The environmental group WildEarth Guardians on Monday asked the U.S. Office of Surface Mining Reclamation and Enforcement to clamp down on mining activity that leads to the creation of so-called orange clouds of gas, saying experts have found the clouds to have concentrations of nitrogen oxides that exceed safety limits.
Finnish engineering company Metso Corp. has rejected an unsolicited proposal by rival The Weir Group PLC to merge, the company said in a brief message Wednesday to stock exchange regulators and shareholders.
Hydraulic fracturing in California is at a crossroads, as mounting pressure from citizens and environmental groups pushes lawmakers toward a moratorium that would dismantle a new regulatory framework that allows energy developers to continue working, clouding the future of projects around the state.
Private Swiss bank Pictet & Cie on Wednesday sought to extinguish a Saudi Arabian oil investment company's lawsuit alleging it aided employees in a kickback scheme that cost it $350 million, saying the action clearly doesn’t belong in New York.
The D.C. Circuit's decision Tuesday to uphold the Obama administration's rule limiting mercury and other toxic emissions from coal- and oil-fired power plants is another blow to the coal industry, but experts say a judge's dissent over the administration brushing aside the rule's costs provides the roadmap for a likely industry appeal to the U.S. Supreme Court.
While the Bureau of Land Management's venting and flaring rule may be focused on the government's possible loss of resources from the energy industry's use of public land, the U.S. Environmental Protection Agency can be expected to focus more directly on methane itself. Potential regulations emerging from recently-released EPA white papers should be on the industry's radar, whether suppliers are operating on federal land or not, says Luke Johnson of Brownstein Hyatt Farber Schreck LLP.
The Commodity Futures Trading Commission and the Federal Energy Regulatory Commission recently signed two long-awaited memoranda of understanding, the lower-profile information-sharing one, which provides FERC with “large trader data” in the CFTC’s possession, being the more significant. Regulators achieved a significant victory by including surveillance purposes in the memo — it was a long time coming and provides FERC with a potent tool for surveilling the natural gas and power markets, say attorneys at Norton Rose Fulbright.
Gasoline sulfur levels have dropped up to 90 percent from the U.S. Environmental Protection Agency’s Tier 2 Gasoline Sulfur Program, and the EPA's recently issued notice for the Tier 3 Program will further reduce gasoline sulfur content. However, it does not take much for a refinery to exceed the 10 ppm sulfur standard, and a stronger incentive may exist for refiners to generate and bank credits for their own future use, say Laura Riese and Brenna Finn of Davis Graham & Stubbs LLP.
The meteoric media rise of the “celebrity” whistleblower has shone a spotlight on the practice, with personalities such as Chelsea Manning and Edward Snowden dividing public opinion on the ethics of spilling secrets. But organizations should pay close attention to the surge in this trend beyond the headlines. Remember, whistleblowers don’t need to be popular to be effective, and opinions on their motives and morality are entirely secondary to the critical issues they potentially uncover, says Shanti Atkins of Navex Global.
While the actual breaches are unknown, Heartbleed has the potential to expose all of a lawyer's files stored or transmitted online. The bug raises professional responsibility questions and offers confirmation of the greatest anxieties that the legal industry has about online practice. In fact, the timing is poor for many legal tech providers, following a general industry warming to cloud offerings, says David Houlihan of Blue Hill Research Inc.
California's SB 4 requires the state's Division of Oil, Gas & Geothermal Resources to develop a permitting scheme to regulate the use of well-stimulation practices, including hydraulic fracturing. However, the division's interim regulations have created more problems than they've solved and established a de facto moratorium that the state Legislature and governor rejected in 2013, say Michael Mills and Chelsea Huffman of Stoel Rives LLP.
A 2012 Indian Supreme Court decision effectively reversed the trend of Indian courts’ judicial intervention in international arbitrations. A spate of judgments since then makes it apparent that Indian courts are adopting a less interfering role and are willing to enforce arbitration agreements between parties in accordance with the UNCITRAL model law and the New York Convention, say Talat Ansari and Ila Kapoor of Kelley Drye LLP.
Why do the majority of speakers get polite claps at the end of their talks while a few select others receive rousing applause? Having given more than 375 presentations to legal groups, bar associations, Fortune 500 companies and corporate gatherings, I’ve learned a few things about what not to do. Remember, great speakers don’t tell “war stories.” They don’t even give examples from their own practice, says Michael Rubin of McGlinchey Stafford PLLC.
The Federal Energy Regulatory Commission's recent rejection of a bid by Colonial Pipeline Co. should put to rest the debate among those who see regulatory differences between the duties of common carrier and contract carriers of pipelines. The line FERC has drawn between existing facilities and new construction provides some clarity to declaratory order proceedings in which nontraditional rate structures are sought for liquids pipelines, says Albert Tabor of Caldwell Boudreaux Lefler PLLC.
The Sixth Circuit's ruling in United States v. DTE was the first on the U.S. Environmental Protection Agency's 2002 New Source Review program. While the decision recognized the EPA can bring enforcement actions absent postconstruction actual emissions data, a fair reading of the court indicates that enforcement without evidence of an actual increase in emissions should be limited, say Stacie Fletcher and David Fotouhi of Gibson Dunn & Crutcher LLP.