The Consequences Of Rising Inflation & Crude Oil Prices
On April 2, 2025, Pré-Sal Petróleo S.A. (“PPSA”) published the Draft Tender Protocol of the 5th Auction (“5th Auction”) for the sale of national oil from the Mero, Búzios, Sépia, Itapu e Bacalhau fields (“Draft Tender...more
China announced overnight that it will impose its own tariffs in retaliation for the newly announced U.S. tariffs. China has indicated that, effective February 10, 2025, it will impose a 15% tax on certain types of coal and...more
Canada's troubled Prime Minister, Justin Trudeau, faced growing calls to resign last week after his Deputy Prime Minister and Finance Director, Chrystia Freeland, resigned over disagreements about government spending....more
2024 was a year defined by change in the world of administrative law. With the U.S. Supreme Court’s review of the National Environmental Policy Act (NEPA) in Seven County Infrastructure Coalition v. Eagle County, the nation’s...more
Ahead of what’s expected to be the Federal Reserve’s final interest-rate decision for 2024, the S&P 500 dipped 0.2%, while the Nasdaq stayed flat. A “hawkish cut” of 25 basis points is expected. The 10-year Treasury yield...more
The U.S. Supreme Court last week scheduled oral arguments for December 10 in Seven County Infrastructure Coalition v. Eagle County, a highly anticipated case that focuses on whether a federal agency should be required to...more
In April of 2024, the Railroad Commission of Texas (“RRC”) posted a year-end review of production for the year of 2023. According to the RRC, Texas oil and gas production reached record highs in the year of 2023....more
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
In a highly anticipated judgment, a 3:2 majority of the UK Supreme Court ruled in R (Finch) v Surrey County Council and others [2024] UKSC 20 that environmental impact assessments (EIAs) for fossil-fuel projects must include...more
In Citizens for Clean Air & Clean Water in Brazoria County et al v. United States Department of Transportation et al., several environmental groups challenged the DOT’s approval of a license for commercial construction and...more
El Gobierno Nacional de Colombia modificó mediante el Decreto 0242 de 2024 las tarifas de retención y autorretención aplicables a las empresas del sector minero y de hidrocarburos. Estas modificaciones fueron realizadas con...more
On February 8, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced the imposition of sanctions against a network of foreign entities and a vessel involved in an asserted price cap...more
The Price Cap Coalition is an international partnership of the United States, the G7, the European Union, and Australia that was established in December 2022 to limit Russia’s ability to fund its war against Ukraine through...more
The court has looked at a “hindrance” on paying a debt in the context of a force majeure clause and whether a sanctions clause or the general law of sanctions excused payment. Litasco, a Swiss company wholly owned by a...more
The United States manages more than three dozen separate economic and trade sanctions programs. Those programs target specified foreign governments along with thousands of named individuals, groups and entities in accordance...more
The United States Environmental Protection Agency (“EPA”) and Calumet Shreveport Refining, LLC (“Calumet”) entered into an October 25th Consent Agreement and Final Order (“CAFO”) addressing alleged violations of the Resource...more
It is not uncommon for parties to agree that certain disputes should be referred to an expert for determination. However, when those disputes arise, the parties may disagree about the scope of the exercise to be carried out...more
On December 1, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets control (OFAC) announced the imposition of sanctions on three entities and identified as blocked property three vessels that used Price Cap...more
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) on Oct. 12, 2023, designated two tank vessels and their registered owners as Specially Designated Nationals (SDNs) for allegedly transporting...more
The Office of Foreign Assets Control (OFAC) of the U.S. Treasury Department, in the last few days, imposed the draconian penalty of designating two shipping vessels and their registered owners in the UAE and Turkey as...more
Co-Author: Elizabeth Strickland The United States Court of Appeals for the Sixth Circuit (“Sixth Circuit”) addressed in a June 23rd Opinion the scope of the Comprehensive Environmental Response, Compensation, and Liability...more
On June 23, 2023, the EU released its 11th package of sanctions on Russia. This package is designed to improve enforcement with new anti-circumvention rules, new trade restrictions, and new designations. The...more
On April 17, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) issued an alert warning U.S. persons regarding the possible evasion of the price cap set on crude oil of Russian origin, particularly oil...more
On April 17, 2023, the United States Treasury Department’s Office of Foreign Assets Control (OFAC) issued an alert warning U.S. persons about possible evasion of the price cap on Russian Federation origin crude oil,...more
La Agencia Nacional de Hidrocarburos (ANH) de Colombia, el 1 de marzo de 2023, expidió la Resolución 0181 por medio de la cual publica el precio promedio internacional del petróleo crudo de referencia Brent del año 2022, así...more