The National Hydrocarbons Commission (“CNH”) announced on April 26, 2018, the so-called “farmout” bid process CNH-A-C6-7 Asociaciones/2018. This new bid round comprises seven onshore conventional blocks for exploration and production that are located in the states of Veracruz, Tabasco and Chiapas, covering collectively 4,580.8 km2. CNH estimates these blocks have conventional prospective resources of approximately 405.1 million barrels of crude oil equivalent ...
Earlier this year, Prime Minister Theresa May said the government wanted to, “secure broad energy cooperation with the EU”, including by, “exploring options for the UK’s continued participation in the EU’s internal energy market” ...
EPA Administrator Pruitt recently issued another policy to help streamline the New Source Review (NSR) Program. After receiving comments from many industry sources that the NSR Program should be reformed given its heavy time and cost burden, the Trump EPA has made reforming the NSR Program a priority ...
On April 12, 2018, President Trump issued a memorandum to Administrator Pruitt to promote domestic manufacturing and job creation through policies intended to streamline implementation of national ambient air quality standards (NAAQS) ...
Earlier this year, revisions to the requirements for new and existing indirect heat exchangers contained in 401 KAR 59:015 and 401 KAR 61:015 became effective. Indirect heat exchangers with a heat input capacity greater than one million Btu/hour (MMBtu/hour) are subject to either 401 KAR 59:015 (new sources) or 401 KAR 61:015 (existing sources). The classification as new or existing depends upon when the indirect heat exchanger was installed ...
Earlier this year, Mexico´s Senate approved the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (“CPTPP”) formerly known as the Trans-Pacific Partnership ("TPP"). The CPTPP will enter into force once six of its members ratify the Treaty pursuant to their internal legal procedures. Mexico is the first member to ratify the Treaty ...
An increased number of corporate transactions and mergers have been observed in the oil and gas sector on the Norwegian Continental Shelf (NCS) in recent years. Several oil majors and traditional utilities and downstream companies have reduced their presence and, to some extent, been replaced by smaller companies, including start-ups backed by private equity ...
Philippines Franco Aristotle G. Larcina and Arlene M. Maneja SyCip Salazar Hernandez & Gatmaitan Antitrust Law 1. What are the legal sources that set out the antitrust law applicable to vertical restraints? The key statute is Republic Act No. 10667, otherwise known as the Philippine Competition Act (PCA), which was enacted on 21 July 2015 and which became effective on 8 August 2015 ...
When a half-mile from the nearest body of water, must you obtain a federal permit when discharging treated wastewater to groundwater? According to a recent Ninth Circuit decision, the answer may be yes.[1] This alarmed many because the Clean Water Act regulates discharges to navigable waters from "point sources" like pipes or ditches ...
Population growth has become the be-all and end-all for economic prosperity, but how on Earth can we cope with the extra billions of people? While “leafing” – or should I instead say “scrolling” in today’s need to sound tech savvy – through the news websites, the two subjects seemed to have captured the media’s attention: immigration and plastic ...
H.B. 4270 Passed - March 10, 2018 Signed by Governor - March 27, 2018 Effective - June 8, 2018 The Information Reporting and Payments to Owners bill (H.B. 4270) is a companion bill to the Cotenancy Modernization bill ...
On March 15, 2018, the National Center for Energy Control (“CENACE”) announced the fourth long-term auction for the purchase and sale of power, capacity, and clean energy certificates. The term of the contracts for power and capacity will be 15 years while the term for clean energy certificate contracts will be 20 years. The standard commercial operation date of the power generation projects awarded under the auction is scheduled for January 1, 2021 ...
Amendments to Zimbabwe’s controversial Indigenisation and Economic Empowerment Act, Chapter 14:33 (the “Act”), were gazetted on 14 March 2018. These far-reaching changes, first announced in the 2018 Budget in December 2017, should pave the way for foreign investors wishing to establish operations in the country and boost the economy ...
It is one year since the United Kingdom (UK) triggered Article 50 of the Treaty on European Union (EU) by notifying the European Council of its intention to withdraw from the EU. This means that we are now half way through the two year negotiation period during which the terms of the UK’s withdrawal from the EU are due to be concluded ...
The Changwon District Court in South Korea has this afternoon (23 March 2018) issued a comprehensive prohibition order (CPO) following the application of Sungdong Shipbuilding and Marine Engineering Co. Ltd (Sungdong) to enter Chapter 11 Rehabilitation filed earlier this month ...
It is one year since the United Kingdom (UK) triggered Article 50 of the Treaty on European Union (EU) by notifying the European Council of its intention to withdraw from the EU. This means that we are now half way through the two year negotiation period during which the terms of the UK’s withdrawal from the EU are due to be concluded ...
On March 13, 2018, the Internal Revenue Service (IRS) announced that it will immediately "ramp down" its Offshore Voluntary Disclosure Program (OVDP). The IRS is closing the OVDP on September 28, 2018. Taxpayers with unreported foreign accounts or assets should be aware of the implications of such a change and consider the benefits of disclosure through the OVDP while it remains available ...
On February 12, 2018 the Mexican Secretariat of Communications and Transportation (“SCT”) published the draft of Mexican Environmental Standard PROY-NOM-036-SCT3-2017 in the Official Daily Gazette, which sets forth the maximum allowable limits of noise generated by aircraft. Within the next 60 calendar days, any interested party may provide comments to the National Consultation Committee of Air Transportation Standardization ...
On February 22, 2018, the Center for Biological Diversity (CBD) sent the Environmental Protection Agency (EPA) a notice of intent to sue letter for failure to approve Kentucky’s air quality plan for limiting fine particulate (PM2.5) emissions in the Louisville, Kentucky area. Kentucky’s Energy and Environment Cabinet submitted a revision to the Jefferson County portion of the Kentucky State Implementation Plan (SIP) to EPA December 21, 2016 ...
Earlier this year the European Commission published a draft Withdrawal Brexit Agreement. It is a draft treaty to embody the key principles from the Joint Report of the Commission and the UK on the first three elements of the Brexit negotiations (i.e., People, Ireland and Money - the "PIM" Phase). The draft Agreement sets out a roadmap for the EU's vision of the withdrawal process.This is a negotiating move by the EU - it is not an agreed draft. It is a move by the EU in the Brexit chess match ...
With the Paradise papers leak in 2017 and the infamous Panama papers leak the year before, it has become increasingly more important to choose the right destination for offshore investment. It will require careful consideration, planning and skilful professional advice. It will also no doubt require a jurisdiction with a politically and economically stable environment, sound legislation, low tax (or zero tax), a solid banking framework and a discreet environment ...
Best-known for its stunning natural beauty—jewel-colored waters, soft sandy beaches, and lush mountain ridges—the British Virgin Islands also excels among her peers in the international financial services industry. Notably, the Territory is relentless in its pursuit of refining and advancing its financial services legal structures and complying with worldwide regulatory regimes ...
