News & Analysis as of

Petroleum

White & Case LLP

Modification of the guidelines regulating the issuance of import and/or export Permits for hydrocarbons and petroleum products

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On September 18th, the "Agreement Amending the One that Establishes the Goods Whose Import and Export are Subject to Regulation by the Ministry of Energy" (the "Agreement") was published in the Official Gazette of the...more

Brownstein Hyatt Farber Schreck

Brownstein Sponsors the 2024 Rockies Petroleum Conference

Brownstein was privileged to sponsor this year’s Rockies Petroleum Conference, hosted by the Petroleum Association of Wyoming, in Laramie, Wyoming, on Aug. 21–23, 2024....more

Mayer Brown

New Decree Regulating the Gas Law Published

Mayer Brown on

On August 27, 2024, Brazilian President Luiz Inácio Lula da Silva signed five documents at a ceremony to approve the national energy transition policy: (i) revoking Decree 9.928/19, which established the Technical Committee...more

Braumiller Law Group, PLLC

Hot Topics in International Trade - August 2024 - The Trade Powerhouse: Analyzing Texas’ Role in Global and National Trade

Texas isn’t just celebrated for its breathtaking landscapes and rich history—it’s a dynamic powerhouse in international and interstate trade. As the second-largest state in the U.S., Texas capitalizes on its strategic...more

Mayer Brown

Mozambique Regulates Local Content Obligations of the Concessionaires of Petroleum Rights

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On July 5, 2024, the Ministry of Mineral Resources and Energy (Ministério dos Recursos Minerais e Energia - "MIREME") published Ministerial Diploma No. 55/2024 ("DM 55/2024") to establish within the scope of petroleum...more

Bracewell LLP

All’s Well That Ends Well? NSTA Launch Investigation Into Oil Well Decommissioning Delays

Bracewell LLP on

On 15 July 2024, 10 days into the UK Labour Government, the North Sea Transition Authority (“NSTA”, formerly known as the Oil and Gas Authority) announced that its Directorate of Regulation is opening an investigation into...more

Foley & Lardner LLP

EPA Finalizes New Greenhouse Gas Reporting Obligations for Petroleum and Natural Gas Systems: More Companies Impacted; More Fees...

Foley & Lardner LLP on

On May 14, 2024, the U.S. Environmental Protection Agency (EPA) published the final Greenhouse Gas Reporting Rule requirements for petroleum and natural gas systems under 40 C.F.R. Part 98, Subpart W in the Federal Register....more

Jones Day

Greenhouse Gas Emission Reporting for Petroleum and Natural Gas Industry Overhauled

Jones Day on

The Situation: The United States Environmental Protection Agency ("EPA") was required to overhaul the greenhouse gas reporting requirements for the petroleum and natural gas industry by the Inflation Reduction Act ("IRA") in...more

The Volkov Law Group

OFAC Rolls Back Venezuelan Sanctions Relief, Again Prohibiting Oil and Gas Transactions

The Volkov Law Group on

On April 17, 2024, OFAC formally rolled back the sanctions relief it previously provided to the Venezuelan oil and gas industry.  While OFAC provided the initial relief believing that Venezuela would permit a fair and open...more

Mayer Brown

ANP Publishes Individual Renovabio Emissions Targets for 2024 and 2023 Results

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On March 28, 2024, Brazil’s National Petroleum Agency (ANP) published the mandatory individual targets for reducing greenhouse gas emissions for 2024. These targets consider the global target of 38.78 million Decarbonization...more

Oliva Gibbs LLP

Lessons in Chemistry: SCOTUS Declines Review in OPA Case

Oliva Gibbs LLP on

The U.S. Supreme Court has declined to hear an appeal addressing whether a mixture of petroleum and chemicals constitutes “oil” under the Oil Pollution Act (OPA). In doing so, the Court has effectively rejected the efforts of...more

Spilman Thomas & Battle, PLLC

Record U.S. Oil Production and the Potential Impacts

Domestic oil production in the U.S. reached a new record in November 2023, hitting 13.31 million barrels per day, according to data from the U.S. Energy Information Administration. In “Domestic Oil Production in U.S Reached...more

Spilman Thomas & Battle, PLLC

Currents Energy Industry Insights: V 8, Issue 3, March 2024

Record U.S. Oil Production and the Potential Impacts - Domestic oil production in the U.S. reached a new record in November 2023, hitting 13.31 million barrels per day, according to data from the U.S. Energy Information...more

Holland & Knight LLP

New York State Issues Updated Soil Vapor Intrusion Guidance

Holland & Knight LLP on

The New York State Department of Health (NYSDOH) in late February 2024 announced an update to its Guidance for Evaluating Soil Vapor Intrusion in the State of New York. For the first time, the Soil Vapor/Indoor Air Decision...more

ArentFox Schiff

EPA Finalizes Changes to the Clean Air Act’s Risk Management Program

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On March 1, the US Environmental Protection Agency (EPA) announced finalized amendments to the Clean Air Act’s Risk Management Program (RMP) through the Safer Communities by Chemical Accident Prevention Rule (Final Rule). ...more

Mayer Brown

Namibia Establishes New Oil and Mining Licensing System

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The Namibian government established a new licensing system for the oil and mining sectors, in order to address a backlog of applications which had developed over recent years. In this Legal Update, we examine some provisions...more

Goldberg Segalla

Supreme Court Denies Petition for Certiorari in Minnesota’s Climate Case Against Petroleum Leaders

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In June 2020, Minnesota Attorney General Keith Ellison sued ExxonMobil, three Koch entities, and the American Petroleum Institute — (energy companies and affiliates that produce or sell fossil fuels around the world and an...more

Akin Gump Strauss Hauer & Feld LLP

The ‘Eddie Murphy Rule’ Earns Its Moniker: The CFTC Brings a Classic Insider Trading Case

While it took a few decades to surface, the fact pattern set forth in the movie “Trading Places” has finally come to pass. However, instead of the alleged wrongdoers bribing a U.S. government official for a sneak peek at...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Aboveground Storage Tanks: An Arkansas Petroleum Storage Tank Trust Fund Reminder

The Arkansas Petroleum Storage Tank Trust Fund (“Trust Fund”) is a state statutory mechanism has been used by both underground and aboveground storage tank owners and operators for over 30 years to address petroleum leaks and...more

ArentFox Schiff

ESG Litigation Update: Hawaii Supreme Court Allows Petroleum Industry Climate Case to Proceed

ArentFox Schiff on

A recent Supreme Court of the State of Hawaii decision permitted climate-related claims against major petroleum and gas companies to proceed toward trial. The decision in City and County of Honolulu v. Sunoco LP allows...more

Jones Day

Ahead of Methane Emission Fees, EPA Proposes New Reporting Rules for Petroleum and Natural Gas Industry

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The Situation: The Inflation Reduction Act ("IRA") requires the U.S Environmental Protection Agency ("EPA") to finalize new greenhouse gas reporting rules for the petroleum and natural gas industry based on "empirical...more

Seward & Kissel LLP

OFAC Issues New Russian Oil Price Cap Advisory and Sanctions Entities Transporting Oil Sold Above the Price Cap

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On October 12, 2023, OFAC released an Advisory for the Maritime Oil Industry and Related Sectors: Best Practices in Response to Recent Developments in the Maritime Oil Trade on behalf of the G7, European Union and Australia...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Branded Retail Motor Fuel Facilities: Complying with the Petroleum Marketing Practices Act

Motor fuel facilities owned and operated by Arkansas petroleum marketers supply a significant portion of the products sold in the State of Arkansas. However, Arkansas motor fuel jobbers, marketers, and other suppliers...more

Spilman Thomas & Battle, PLLC

Currents - Energy Industry Insights: V 7, Issue 9, September 2023

The Virginia Clean Energy Act, the Botetourt County Battery Power Facility and the Impact on the Commonwealth - The Virginia Clean Energy Act (“VCEA”) mandates that Dominion Energy Virginia and Appalachian Power, the two...more

Williams Mullen

[Webinar] M&A Series: Unique Considerations in Petroleum & Commercial Fuel Transactions - September 19th, 11:00 am - 11:15 am ET

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It has been an active time for transactions in the Petroleum and Commercial Fuel industries as long-standing family concerns cash out and institutional buyers look to drive shareholder value. These deals can be fraught with...more

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