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Inflation Reduction Act
Bracewell Legal Bites: 5 Things to Consider About Force Majeure Relief
During the coronavirus lockdown, many companies are turning to their contracts to consider whether relief might be available under force majeure provisions. Watch this Bracewell Legal Brief , where Darren Spalding , a partner in our London office, details 5...
COVID-19 Impact on US Renewable Energy Projects
The COVID-19 pandemic is raising numerous concerns for renewable energy projects under development in the United States. First, will Congress address renewable energy industry concerns in the coming round of the COVID-19 legislative debate, or soon thereafter, by extending renewable...
FERC Issues Notice of Proposed Rulemaking Aimed At Increasing Incentives for Transmission Investment
After a 2-1 vote, on March 20, 2020, the Federal Energy Regulatory Commission (“FERC” or the “Commission”) issued a Notice of Proposed Rulemaking (“NOPR”), proposing to revise its existing electric transmission incentives policy and corresponding regulations to enhance opportunities for...
COVID-19 and “Electronic” Execution of English Law Documents
In light of the on-going Covid-19 pandemic, many organisations are implementing remote working policies and limiting access to offices in order to effect social distancing measures. Notwithstanding the changes to usual working practices, organisations continue to enter into binding contractual...
Tips for Trading Compliance During a Pandemic
As many workplaces shutter and transition to telecommuting in response to the Novel Coronavirus (COVID-19), we are reminded that change always brings with it compliance risk. Even if your company has an emergency plan in place, assessing its effectiveness early...
Nigeria’s upstream petroleum sector: looking back at 2019 and looking ahead in 2020
We review what happened in Nigeria’s upstream petroleum sector during the year just gone – a year that saw changes to the petroleum royalty regime, an uptick in deal activity and, of course, an election and changes to the leading...
Challengers to FERC's Storage Order File Briefs with the D.C. Circuit
On November 6 th , the last of three challengers to the Federal Energy Regulatory Commission’s (“FERC’s” or “Commission’s”) Storage Order, Orders No. 841 and 841-A [1] , filed briefs with the D.C. Circuit seeking to vacate the Commission’s determination...
A new regime for Nigerian upstream royalty rates
What has happened? Nigerian President Muhammadu Buhari has taken the final steps to pass a new law amending the country’s upstream royalty rates applying to offshore and certain inland areas. The Deep Offshore and Inland Basin Production Sharing Contracts (Amendment)...
Mexico's Agenda for 2020 in Energy and Infrastructure
Andres Manuel Lopez Obrador, Mexico's president recently issued the general criteria of economic policy for the country's 2020 annual budget. The document describes several undertakings to trigger economic growth in Mexico in the upcoming year. One of the main items...
The end of LIBOR: The search for a new benchmark interest rate for Project Agreements
Often referred to as “the world’s most important number”, the London Interbank Offered Rate (LIBOR) is used as the reference interest rate for a range of commercial and financial contracts worth hundreds of trillions of dollars globally. Partly as a...
UAE Foreign Direct Investment Law
Contributing Author Dr. Raed Safadi, Chief Economic Advisor, Dubai Investment Development Agency On 23 September 2018, one of the most anticipated legal developments in the UAE was brought to life. The UAE issued Federal Decree-Law No. 19/2018 on Foreign Direct...
FERC Revises Market-Based Rate Seller Requirements
NOTE: Since the original publication of this post, FERC has postponed the implementation of Order No. 860. The order now becomes effective on July 1, 2021 and baseline filings into the new relational database are due on February 1, 2022...
Finding New FPA Authority, FERC Makes Policy Change to Authorize Retroactive Surcharges (and Maybe More)
Historically, the Federal Energy Regulatory Commission (“FERC” or the “Commission”) has maintained a policy whereby it will not order refunds stemming from rate design and cost allocation rulings, reasoning that it was statutorily barred from instituting offsetting surcharges. [1] In...
Battery Storage –Powering Future LNG Projects (including FLNG)
It is undeniable that a low carbon transition is taking place. One of the leading forces of this transition is battery storage. Battery storage technology that was, only a couple of years ago, immature and expensive is now beginning to...