The denationalization of the Mexican energy market after 75 years of government control will give Texas industry enormous opportunities for growth, with Mexico expected to spend more than $10 billion to import Texas goods and services in early stages of the overhaul, experts told a Texas Senate panel Friday.
Russian gas giant OAO Gazprom said Friday that a $1.3 billion trade secrets suit being pursued by Moncrief Oil International Inc. belongs in Texas federal court because the dispute is subject to a foreign arbitration agreement governing a failed Siberian gas field deal.
Canadian energy player Algonquin Power & Utilities Corp. said Friday that its regulated utility business will pay Carlyle Group-backed Western Water Holdings approximately $327 million for water distribution utility Park Water Co., which produces and sells water in Southern California and Western Montana.
The U.S. Departments of Energy, Agriculture and Navy said Friday that they've awarded contracts to three companies to build refineries that will produce drop-in biofuels to supply the military, producing more than 100 million gallons of military-grade fuel a year starting in 2016 and 2017.
ExxonMobil Corp. confirmed Friday that it's stopping work on an offshore oil well in the Arctic Ocean it's jointly developing with Russian oil giant OAO Rosneft in order to comply with escalating U.S. and European Union sanctions that have put the squeeze on Russia's energy sector.
In this week's roundup of dealmakers on the move, Stradley Ronon Stevens & Young LLP landed an investment management pro in Washington, D.C., Cadwalader Wickersham & Taft LLP picked up a capital markets partner in London and Hogan Lovells added a project finance pro in Tokyo.
The CEO of TransCananda is predicting that the cost of building the long-delayed Keystone Pipeline could double by the time the cross-border project is completed, which would put the tab beyond $10 billion.
In a deal worth at least $30 million, Petroleum Development Corp. has settled with a certified class of several thousand investors who accused the energy company in California federal court of shortchanging them when it bought back their stakes in undeveloped Colorado oil properties, the company reported Friday.
Chinese renewable energy provider Sky Solar Holdings Ltd. is planning an initial public offering to raise $100 million to fund expansion, according to regulatory documents filed Thursday, marking the latest green company joining the IPO wave.
Exxon Mobil Corp. on Thursday beefed up its presence in the oil-rich Permian Basin of west Texas, acquiring nearly 18,000 acres from Linn Energy LLC in exchange for an interest in about 500 acres in the South Belridge oil field in central California.
Everything in real estate is based upon yield and yield is based upon ultra-low interest rates. If interest rates stay the same, deal flow will continue its impressive recovery. If interest rates rise to mid-2000 levels, I'll have more time to work on my golf game, says Brian Crist of Ice Miller LLP.
The U.S. Senate on Thursday overwhelmingly approved funding for Syrian rebels to battle the Islamic State militant group, as part of a short-term spending bill that will fund the federal government through early December and avert another shutdown.
ACE American Insurance Co. on Wednesday sued Triple Five Group Ltd. in New Jersey over an allegedly fraudulent transfer of a ground lease as part of the multibillion-dollar American Dream entertainment complex, which ACE contends was intended to stymie its collection of a $5.2 million arbitration award.
The U.S. House of Representatives on Thursday passed a package of energy-focused bills to ramp up oil and gas drilling and greenlight the Keystone XL pipeline among other initiatives, despite a White House threat to veto the bills if they reach the president's desk.
Agricultural products exporter SABA Inc. agreed on Wednesday to pay $3.5 million to settle claims in New York federal court that it fraudulently obtained a $29 million construction loan from Deutsche Bank AG guaranteed by the U.S. Export-Import Bank, but a suit against its agent will move forward.
A New Jersey Senate committee on Thursday advanced proposed oversight requirements for the Port Authority of New York and New Jersey that sponsors say would boost transparency and accountability at the bistate agency in the wake of Bridgegate and other blemishes.
Energy-focused private equity firm Riverstone Holdings LLC said Thursday it is committing $225 million to support Sierra Oil & Gas S de RL de CV, a Mexican startup planning to seize opportunities enabled by the country's recent energy reforms.
Over a five-year period that began in 2013, New York City's 105 colleges and universities are expected to spend almost $10 billion on new construction and renovation projects, according to a report released Wednesday by the New York Building Congress.
Murray Energy Corp. told the D.C. Circuit on Wednesday it plans to argue that the U.S. Environmental Protection Agency does not have legal authority under the Clean Air Act to carry out its plan to slash carbon emissions from existing power plants.
A Florida federal judge on Wednesday reversed FEMA’s de-obligation of $21 million in rehabilitation funds for the Florida coast to repair canals and levees damaged from hurricanes in 2004 and 2005, saying the Stafford Act prohibits the federal agency from pulling the funds back.
The flexibility and access to capital available through master limited partnerships and yieldcos should result in a meaningful increase in yield-oriented U.S. initial public offerings by international companies. Many companies, however, irrationally fear the U.S. Securities and Exchange Commission’s process for registration statement review, says Sean Wheeler of Latham & Watkins LLP.
The Federal Energy Regulatory Commission's proposed market-based rate revisions would streamline filing and clarify when procedures are relevant to different types of entities, which could materially reduce burdens and costs, say William Degrandis and Candice Castaneda of Paul Hastings LLP.
Overall, the U.S. oil country tubular goods industry is pleased with the outcomes of the OCTG trade cases at the administrative agency level, particularly because the U.S. Department of Commerce increased anti-dumping duties on imports from Korea in its final margin calculations and the U.S. International Trade Commission made affirmative determinations with respect to substantially all subject imports, says Brian McGill of King & Spalding LLP.
More and more midstream companies are in need of capital to take advantage of significant infrastructure investment opportunities, which should lead to more public and private merger and acquisition activity in the midstream space along with additional initial public offerings, says Sean Wheeler of Latham & Watkins LLP.
A recent Law360 article about the perennial BigLaw concern over how to recruit and retain female and ethnically diverse attorneys addressed a new approach being taken by some law firms — going beyond traditional mentoring programs by creating a sponsorship relationship. Pro bono can also play a part, say David Lash and Merle Vaughn of the Association of Pro Bono Counsel.
Efforts to apply the Esquenazi definition in Korea — a country where the government plays a significant yet often obscured role in several important industries — reveal that the definition leaves important questions unresolved and provides little comfort to companies trying to determine whether a potential business partner may be subject to the Foreign Corrupt Practices Act, say attorneys with Cadwalader Wickersham & Taft LLP and Kim & Chang.
For a law firm, excess time dedicated to legal research generates waste, either in the form of artificially reduced billable hours or, particularly in flat or contingency fee projects, as overhead eroding the profitability of legal work. By measuring five factors, firms will begin to understand their own opportunities for improving profits, says David Houlihan of Blue Hill Research Inc.
The European Union competition commissioner recently cited French initiatives to block the GE-Alstom deal as an example of “worrying signals of protectionist threats.” France is not, however, to be singled out as EU member states have sought to protect their national champions for decades, relying on, among others, an EU merger provision, say attorneys with Shearman & Sterling LLP.
Each lawyer's practice is a self-run business, even within the platform of a firm, and yet the level of entrepreneurialism within the practice of law is oftentimes marginalized, says legal industry business development specialist Jenn Topper.
Foreign investors face uncertainty about the extent to which their investments in Ukraine are protected under Ukraine’s investment treaties in the context of armed conflict and belligerent occupation, says Lee Caplan of Arent Fox LLP.