The European Parliament formally approved plans Tuesday to freeze the number of pollution allowances available in upcoming carbon auctions in an effort to increase prices that have fallen well below the European Union's expectations.
London-based copper miner Kazakhmys PLC said Tuesday it has agreed to sell its 50 percent stake in a company operating a Kazakhstan power plant and 100 percent of a hydroelectric power company for $1.3 billion in cash to a Samruk Energy, a sovereign wealth fund.
Duke Energy filed a $1.18 billion plan with the U.S. Nuclear Regulatory Commission, to take down its Crystal River nuclear power plant in Florida, the company said Monday.
Consol Energy Inc. and Noble Energy Inc. will pay up to $190 million for drilling rights to nearly 90,000 acres in the Marcellus Shale beneath West Virginia gas storage fields owned by Dominion Resources Inc., Pennsylvania-based Consol said Tuesday.
Entergy Gulf States Louisiana LLC clinched a six-year agreement with a subsidiary of South Africa-based Sasol Ltd. to supply up to 200 megawatts of power to run Sasol’s planned $7 billion petrochemical project in Louisiana, according to a Monday statement.
Affiliates of Talisman Energy Inc. agreed to sell their 12 percent equity interest in a Colombian oil pipeline company to an Advent International-led consortium for $595 million, the companies said Tuesday.
State-owned Vietnam Oil and Gas Group, also known as PetroVietnam, said Monday that it's signed agreements for a total of $795 million in export credit agreements and commercial loans from several banks to help finance the second phase of its $1.67 billion coal-fired power plant project.
Novartis is considering a one-for-one swap of its $4 billion animal health unit for a yet-unnamed Merck division, while a Blackstone-backed landlord could find itself under new ownership in one of Germany's biggest real estate transactions of the year.
Cheniere Energy Inc. said Monday that its subsidiary has agreed to two separate deals for a combined $9.5 billion with Bechtel Oil, Gas & Chemicals to construct liquefied natural gas trains and facilities for its project in Corpus Christi, Texas.
Eight northeastern states on Monday urged the U.S. Environmental Protection Agency to crack down on air pollution from several upwind states, the latest interstate dust-up over U.S. air policy, which foreshadows even bigger regional battles when the agency proposes greenhouse gas emission rules for existing power plants next year, experts say.
Kentz Corp. Ltd. will dole out $435 million to pick up rival Valerus Field Solutions, giving the U.K. engineering firm a stronghold in the U.S. and Latin-American oil and gas engineering industries, according to a Monday statement.
A former Akin Gump Strauss Hauer & Feld LLP partner specializing in the energy and infrastructure sector has joined Dechert LLP's corporate and energy and clean technology practices, Dechert said Monday.
Private equity-backed NET Midstream on Monday announced that it had secured $665 million in funding for its planned 124-mile NET Mexico natural gas pipeline in South Texas, closing a financing round led by Japanese bank Mitsubishi UFJ Financial Group Inc.
Petroflow Energy Corp., whose predecessor firm went bankrupt in 2010 amid a dispute over an Oklahoma gas drilling project with Equal Energy Ltd., will buy its former business partner for approximately $230 million, Equal said Monday.
The Asian Development Bank is providing a $900 million loan for a new, 600-megawatt supercritical coal-fired power plant in Pakistan, a country the bank said Monday was in desperate need of reliable energy.
Alpha Natural Resources Inc. said Monday that it will sell its 50 percent stake in a natural gas joint venture it co-founded with Rice Energy in 2010 for $300 million, $100 million of which will be in cash, with the other $200 million in Rice common stock.
Texas and six other states were permitted to intervene Friday in a federal lawsuit that will set a deadline for the U.S. Environmental Protection Agency to determine which areas of the country don’t comply with a critical part of its sulfur dioxide emissions standards for power plants and other sources.
Oil and gas company EnerVest Ltd. agreed to sell its Permian Basin assets in Texas to QEP Resources Inc. for $950 million, the companies said Monday.
As the U.S. Supreme Court hears oral arguments on Tuesday examining the federal government's power to regulate air pollution across state lines, experts say both sides will be focused on swaying Justice Anthony Kennedy, who will likely once again cast the deciding vote in a critical environmental case.
Florida Gov. Rick Scott announced Friday that $88 million will be used in 28 proposed environmental and recreational early restoration projects proposed by the state’s trustees to remedy damages from the Deepwater Horizon oil spill.
The first criminal case ever prosecuted under the Migratory Bird Treaty Act against Duke Energy reinforces the importance of developing voluntary compliance mechanisms in cooperation with the U.S. Fish and Wildlife Service to reduce bird mortality — and raises the possibility that more enforcement actions could be on the horizon, say attorneys with Perkins Coie LLP.
In light of the proposed e-discovery amendments to the Federal Rules of Civil Procedure, businesses need to set themselves up to efficiently respond to discovery and requests for information from their counsel by implementing and following document-control policies as part of normal business practices. The failure to do so will eventually consume vast amounts of employee time, say Steven Cvitanovic and Colin Murphy of Haight Brown & Bonesteel LLP.
A recent Federal Energy Regulatory Commission order will permit Rockies Express Pipeline to enter into transactions to transport shale gas east to west within its easternmost zone without triggering a rate reduction for its foundation and anchor shippers. Rockies Express’ ability to enter into such transactions will provide a new source of gas supply for Midwestern markets and an attractive outlet for Marcellus and Utica production, say attorneys with Van Ness Feldman LLP.
Proposition 6 and its related enabling legislation provide a unique opportunity for Texas to begin addressing its significant water infrastructure needs. But, as with any ambitious plan, the program faces a variety of challenges, including achieving a proper (and politically acceptable) balance between urban and rural needs and navigating through ongoing water rights disputes, say C. Brian Cassidy and Brian O’Reilly of Locke Lord LLP.
Because Latin American countries differ substantially from one another, there is no effective one-size-fits-all approach to anti-corruption compliance in the region. That said, companies doing business in the region should be aware of a number of recurring compliance concerns that may lead to an increased risk of violating the FCPA or other applicable anti-bribery laws, say attorneys with Debevoise & Plimpton LLP.
The connection between Houston, Texas, and Philadelphia for value-added energy- and refining-related activity is palpable. Companies like Shell, Chevron, ExxonMobil and many others with a strong Houston presence are connecting to Pennsylvania, and we are just seeing the tip of the iceberg, says Michael Krancer of Blank Rome LLP.
Two considerations stand out regarding the Iran nuclear agreement's effect on sanctions. First, the agreement does not provide detail about suspension of sanctions or even identify measures to be suspended. Second, agreement commitments to relax sanctions measures will only be effective if, when and to the extent that they are implemented in U.S. and EU law, say Harry Clark and Clark McFadden of Orrick Herrington & Sutcliffe LLP.
A new law in Mongolia dramatically alters the investment landscape in the country, eliminating the broad restrictions on private foreign investment in the minerals, communication and financial sectors that previously existed, removing the parliament from the approval process, and ending the distinction between foreign and domestic investors, says Stewart Diana of DLA Piper LLP.
While the Nov. 24 accord represents the first reversal in an inexorable trend of increasing sanctions, it by no means signals a dismantling of the Iran sanctions program. The U.S. may even step up enforcement under unaffected portions of its sanctions program, including prohibitions on trading in blocked property, engaging certain petroleum transactions and supporting Iran’s energy sector, say Scott Flicker and Devon Winkles of Paul Hastings LLP.
Mandated law student pro bono programs have not worked in championing the causes of social justice for those unable to afford counsel. States would be far better off using their resources to insist on a legislative solution to a very troubling and persistent deficiency in the allocation of legal resources, says Fred Isquith of Wolf Haldenstein Adler Freeman & Herz LLP.