Inflation Reduction Act
Treasury and the IRS Fuel Taxpayers' Confidence Regarding Section 45Q Credits following Call for Suspension of the Credits
On May 28, 2020, the Department of Treasury and the Internal Revenue Service (IRS) issued proposed regulations (Proposed Regulations) under Section 45Q of the Internal Revenue Code (Section 45Q) for the capture, utilization and storage of carbon oxide (Section 45Q...
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...
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...
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)...
Natural Gas Marketer Settles Royalty Fraud with Department of Justice
A recent settlement serves as a reminder that companies in the energy sector that do not directly do business with government agencies can still be subject to federal procurement enforcement laws with severe consequences. On May 1, 2019, the Department...
The Evolving Market for Acreage Dedications
One of the more interesting developments in the oil and gas A&D market over the past couple of years has been the expanding variety of transactions between upstream and midstream companies involving acreage dedications. Acreage dedications are commitments from upstream...
IGSP – the new kid on the block, writes Bracewell
MENA’s lightening speed renewables revolution must lead to generation-storage hybrid evolution The regional pipeline of renewable deals is getting bolder and achieving unprecedented scales: in 2019 alone Abu Dhabi is planning to roll outs its 2GW of PV solar IPP...
Equivalent Project Relief in the Gulf
It’s been 3 weeks since I relocated from Bracewell’s London office to Dubai and I’ve been wearing down my shoe leather in the DIFC and beyond meeting old acquaintances and new contacts. Most of the time, discussions invariably focus on...
Our Take on Auer – Agency Deference under Scrutiny
Two weeks remain before the Supreme Court hears oral arguments in Kisor v. Wilkie , a likely landmark case for energy and infrastructure companies. When the Supreme Court granted certiorari in December 2018, it took the case specifically to decide...
A Victim Of Its Own Success? Jordan Re-evaluates
Jordan’s approach to the development of renewable energy generation infrastructure has long been regarded as a template for other governments in the region. Through leveraging its favourable geography and climate for wind and solar generation an aggregate capacity of almost...
“Bring Out Your Dead!” - In CFTC v. Wilson, Court Reminds CFTC that Market Manipulation Requires an Artificial Price
On November 30, 2018, a federal court rejected the Commodity Futures Trading Commission’s (“CFTC”) allegations of market manipulation in CFTC v. Wilson (“ DRW ”) and found in favor of the defendants, Donald R. Wilson (“Wilson”) and his company, DRW...
Risky Business, Voldemort and Force Majeure: The Tale of the West Leo Rig
With apologies to movie fans everywhere, this briefing has nothing to do with Tom Cruise’s 1983 comedy or the Harry Potter films. Rather, it actually concerns the recent English High Court decision in Seadrill Ghana Operations Limited -v- Tullow Ghana...