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Energy
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May 22, 2013
$18B Iraq Pipeline To Get Boost From Trade Bank
The state-backed Trade Bank of Iraq is gearing up to invest in at least one leg of an $18 billion oil export pipeline network connecting to Jordan, according to a Wednesday report.
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May 22, 2013
API Says EPA Illegally Capped Fuel Standard Comment Period
The American Petroleum Institute on Tuesday cried foul over the U.S. Environmental Protection Agency's decision to leave only 23 days for public comment on new emissions and fuel standards for passenger cars and trucks, insisting that the limited time frame violates the Clean Air Act.
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May 22, 2013
Deals Rumor Mill: Carlyle, Saks, Sony
Carlyle is hoping to raise $2 billion more for Japan-focused investments that will cement its place as a private equity leader in the country, while Sony has opened itself to negotiations with an activist hedge fund that insists the sputtering company should consider an IPO.
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May 22, 2013
Archer Inks $244M Deal To Sell Unit To Clearlake
Oslo, Norway-based oil services company Archer LT announced Wednesday that it is selling one of its North American divisions to an affiliate of Los Angeles private equity firm Clearlake Capital Group LP for $244 million, an all-cash deal set to help payoff some of the company's debt.
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May 21, 2013
EU Oil Price-Fixing Probe Could Rival Libor Scandal
The European Commission's probe of alleged manipulation of crude oil benchmark prices has expanded beyond major oil companies to include energy trading firms, in a crackdown experts say could echo the ongoing Libor scandal in both its sprawling scope and the avalanche of litigation it could bring from energy consumers.
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May 21, 2013
New DOE Head Says Energy Efficiency Is Top Priority
Newly confirmed Secretary of Energy Ernest Moniz told Department of Energy employees at his swearing-in ceremony on Tuesday that his top priority as head of the agency will be advancing clean energy projects and improving energy efficiency.
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May 21, 2013
Chevron Gas Pumpers Fight To Revive ZIP Code Privacy Suit
Motorists who allege Chevron USA Inc. illegally required them to provide their ZIP codes when they paid for gas at the pump with a credit card urged a California appeals court Tuesday to revive their class action, saying their privacy rights trumped Chevron's fraud concerns.
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May 21, 2013
Biz Groups Warn House Panel To Keep Cyber Reforms Flexible
Leaders in the energy, banking and security fields urged the House Energy and Commerce Committee on Tuesday to make sure the government uses flexible, nonprescriptive standards to protect critical infrastructure from cyberattacks, so businesses can adapt to rapidly evolving threats.
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May 21, 2013
White House Calls Keystone Bill A Bid To Skirt Obama
The White House on Tuesday came out strongly against a U.S. House of Representatives bill that would speed up government approval of TransCanada Corp.'s controversial Keystone XL pipeline, insisting that President Barack Obama must have final say on whether or not the project goes ahead.
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May 21, 2013
Lawmakers Receptive To Industry Push For More LNG Exports
Energy producers and industry groups told a receptive Senate committee on Tuesday that a critical opportunity for exporting liquefied natural gas markets will be closing soon and called for federal regulators to quickly approve pending export terminal projects.
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May 21, 2013
BP, La. Fend Off Deepwater Berm Claims In 5th Circ.
A group of commercial oyster harvesters suing BP PLC, Louisiana and several contractors over alleged damages from berms built in the aftermath of the Deepwater Horizon disaster was dealt serious setbacks on Monday by the Fifth Circuit and a Louisiana federal court.
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May 21, 2013
Chevron Sues Sunoco Over Texas Pipeline Deal
A unit of Chevron Corp. fired off a derivative lawsuit Monday in Delaware Chancery Court on behalf of West Texas Gulf Pipeline Co. and against a subsidiary of Sunoco Inc., alleging that Sunoco's representatives on WTG's board approved an unfair pipeline lease.
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May 21, 2013
Edison Strikes $37M Deal Over Malibu Wildfire Damage
Southern California Edison Co. said Monday that it has reached a $37 million settlement with the California Public Utilities Commission over its role in the 2007 Malibu Canyon Fire that charred nearly 4,000 acres.
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May 21, 2013
Sens. Urge DOE Chief To Address Gasoline Price Spikes
The top two Democrats on the U.S. Senate Energy and Natural Resources committee on Monday urged newly minted Energy Secretary Ernest Moniz to restore the agency's monitoring of planned U.S. oil refinery outages, claiming simultaneous refinery shutdowns are leading to spikes in gasoline prices across the country.
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May 21, 2013
Akin Gump Aids Laredo On $438M Asset Sale To EnerVest
Laredo Petroleum Holdings Inc. will sell all of its oil and gas assets in the Anadarko Basin in Oklahoma and Texas to EnerVest Ltd. for $438 million in cash, the Oklahoma-based independent energy company said Tuesday.
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May 21, 2013
US, EU Want To Settle Chinese Solar Panel Fight
The U.S. and the European Union will attempt to negotiate settlements with China that could resolve their long-running gripes over cheap imports of Chinese solar panels, according to media reports on Monday.
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May 20, 2013
Ex-BP Exec Gets Obstruction Charge Thrown Out
A Louisiana federal judge on Monday dropped an obstruction charge from the indictment of the former BP PLC executive who was second-in-command during the Deepwater Horizon disaster, finding the government didn’t allege he knew of the congressional investigation he was charged with obstructing.
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May 20, 2013
Fighting Agencies May Be Tougher After High Court Ruling
The U.S. Supreme Court's Monday ruling in favor of the Federal Communications Commission, which held that courts should apply a deferential standard of review when federal agencies interpret the limits of their own authority, may make it tougher for regulated businesses to fight agency actions, attorneys say.
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May 20, 2013
5 Problems The New DOE Chief Can't Ignore
Ernest Moniz will be sworn in as U.S. energy secretary on Tuesday morning, officially putting the former Massachusetts Institute of Technology physicist at the center of fierce regulatory debates on everything from natural gas exports to nuclear waste. Here, energy attorneys offer Law360 the top five issues he'll be expected to address quickly.
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May 20, 2013
SOCAR Inks $4B Deal To Build Refinery In Turkey
State Oil Co. of Azerbaijan Republic said Monday it has awarded a $4 billion contract to a consortium of firms to build a new refinery in western Turkey that will be able to produce 10 million tons of diesel fuel and other materials when it is completed in 2023.
Expert Analysis
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Yet Another EC Energy Case Resolved Through Commitments
While the commitment procedure may be a convenient means by which the European Commission can further liberalize the energy sector, commitment decisions provide limited guidance to the business community as to why the EC had antitrust concerns about a certain conduct in the first place, say Yves Botteman and Agapi Patsa of Steptoe & Johnson LLP.
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The Historical Context For Industrial Pollution — Part 1
The environmental laws and regulations enacted in the 1970s reflect a modern understanding that even a trace of certain chemicals may pose a potential human health threat many years after their release into the environment. The results of this radical change in scientific understanding are the enforcement actions brought today under the Comprehensive Environmental Response, Compensation and Liability Act, says Neil Shifrin of Berkeley Research Group LLC.
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SAFETY Act: A Cybersecurity Win-Win For Gov't, Industry
By taking advantage of the Support Anti-Terrorism by Fostering Effective Technologies Act, private industry can help protect the country from cyberattack while lowering insurance costs and mitigating liability risks, say Dismas Locaria and Andrew Bigart of Venable LLP.
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The Way Forward For Fracking After CBD V. Salazar
In the recent ruling of Center for Biological Diversity v. U.S. Bureau of Land Management, the court ruled against the BLM on the National Environmental Policy Act and called for further review of fracking. The decision is one of the early takes on the thorny legal pathway that lies ahead for parties seeking to develop federal shale oil and gas reserves, says Tyler Welti of Perkins Coie LLP.
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A Look At The FCC's Action On RF Exposure Limits
A recent Federal Communications Commission action consists of technical changes in how radio frequency exposure is evaluated and how compliance with the existing RF exposure limit is demonstrated. Many companies are likely to take an interest in the proceeding given its potential to affect an array of sectors, say attorneys with Mayer Brown LLP.
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What To Expect From EPA's New Vessel General Permits
The U.S. Environmental Protection Agency has recently released a final permit covering vessel discharges under the Clean Water Act. One of the most significant changes with this new permit is the inclusion of numeric effluent limits to control the release of invasive species in ballast water, says Meline MacCurdy of Marten Law PLLC.
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Spotlight On Brazil: Courting International Investors
Alongside legal reform and a consolidation of institutions, self-regulatory initiatives have promoted a real improvement in corporate governance practices in Brazil. Such factors have also led to the creation of a more diffuse control of capital in Brazilian companies and the increased participation of active minority investors demanding professional, independent and transparent management bodies, says Silvia Fazio of Chadbourne & Parke LLP.
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What To Know About IRS' 'Begun Construction' Tests
The Internal Revenue Service's recently published Notice 2013-29 provides two new "begun construction" tests used to determine whether certain projects qualify for a production tax credit or investment tax credit. While these tests are very similar to the U.S. Department of Treasury's Section 1603 rules, practitioners should take note of the important differences, says Forrest Milder of Nixon Peabody LLP.
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Africa — Open For Business
While the challenge of development in many African countries should not be underestimated, the rising middle class and ensuing breadth of needs across industries ― including power generation and distribution, transportation, telecommunications, agribusiness, oil and gas, financial services, health care, education, housing and consumer goods — provide an array of prospects for foreign investment, say experts with AlixPartners and Dentons.
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Kiobel Ruling Curbs Potential ATS Liability — For Now
While the U.S. Supreme Court has upheld the Second Circuit ruling on the reach of the Alien Tort Statute, the court's narrow holding in Kiobel v. Royal Dutch Petroleum, issues raised in concurring opinions and the submission of voluminous amicus briefs all suggest a strong likelihood of continued challenges regarding overseas violations of international law. Mining, oil and pharmaceutical companies, manufacturers and financial institutions doing business on foreign soil should take note, say Benjamin Haglund and Barbara Yu of Day Pitney LLP.