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Inflation Reduction Act
General Overview of the Inflation Reduction Act of 2022
On Tuesday, August 16, President Biden signed the Inflation Reduction Act of 2022 (the Act ) into law, which includes material changes to various sections of the Internal Revenue Code of 1986, as amended (the Code ). The following is...
California Sets Ambitious Offshore Wind Planning Goals
California’s updated planning goals for offshore wind: between 2 to 5 GW by 2030 and 25 GW by 2045. The California Energy Commission (“CEC”) formally adopted the foregoing planning goals pursuant to its obligations under Assembly Bill No. 525 (“AB...
New Saudi Companies Law 2022: Key Changes, and Next Steps for Companies in KSA
Background On 28 June 2022, the Saudi Cabinet of Ministers approved the New Companies Law, and it was published in the official gazette (Umm Al Qura newspaper) on 4 July 2022 pursuant to Royal Decree No. (M/132) dated 01/12/1443H (the...
The UK National Security and Investment Act: Key Implications for the Energy Sector
Click here to read in Joomag format. Background The UK’s National Security and Investment Act 2021 (the “ Act ”) entered into force on 4 January 2022, introducing a new investment control regime for acquisitions in the UK, with the...
Meet the new NNPC – different from the old NNPC?
What has happened? The Nigerian National Petroleum Corporation has officially “relaunched” as NNPC Limited in a high profile ceremony led by President Buhari. This transition involves the incorporation of a new CAMA company, which is wholly owned by the Nigerian...
A Cloudy Forecast?
Renewables has become the buzz word in the energy and infrastructure space like no other. Certainly 2021 closed out with record procurements across the Gulf and the Middle East more broadly, signalling an entrenched energy transition which few would call...
TSA Revises Cybersecurity Directive for Critical Pipeline and LNG Facilities
Following significant collaboration with the industry, the Transportation Security Administration (TSA) issued a revised directive , effective July 27, 2022, which updates one of the prior directives issued in the wake of a May 2021 cyberattack on one of the...
Senate Considers FERC's Role in Hydrogen Pipeline Development
Last week, the Senate Committee on Energy & Natural Resources (SENR) held a hearing on “ Federal Regulatory Authorities Governing the Development of Interstate Hydrogen Pipelines, Storage, Import, and Export .” Chaired by Senator Joe Manchin (D-WV), the Committee considered...
Re-shaping the UK Energy Regime in an Uncertain Political Landscape
Introduction The UK’s Energy Security Bill, first promised in 2021 and introduced to Parliament on 6 July 2022, contains a wide variety of measures which the UK Government claims will address the energy trilemma of environmental sustainability, security and affordability...
In re TPC Group Inc: Delaware Bankruptcy Court Determines that Issuance of Priming Senior Notes is Not Prohibited Absent Express Anti-Subordination Provision
Following a July 6, 2022 memorandum opinion from the United States Bankruptcy Court for the District of Delaware, lenders and noteholders seeking to preserve the priority of their liens must make any desired subordination protections explicit in their security documents...
FERC Proposes Overhaul of Interconnection Procedures
On June 16, 2022, the Federal Energy Regulatory Commission (“FERC” or “Commission”) issued a Notice of Proposed Rulemaking (“Generator Interconnection Reform NOPR”) seeking comments on proposed reforms to FERC’s pro forma interconnection procedures found in transmission providers’ Open Access Transmission...
Environmental Essentials: Texas Air Permitting Round-Up
Bracewell Partner Whit Swift reviews the recent activity on three separate air permitting topics and how each development could impact members of the regulated community: EPA Orders objecting to Texas Title V permits; the TCEQ Commissioners’ evaluation of requests for...
CFTC 2022: A New Commission, A New Agenda, Same Aggressive Enforcement
The Commodity Futures Trading Commission (the “Commission” or “CFTC”) experienced a year of transition on both the enforcement and regulatory fronts during its Fiscal Year 2021, which runs from October 1, 2020 through September 30, 2021 (“FY 2021”). The Division...
Solar, Hydrogen and Storage: A Heady Mix for the Middle East
The Middle East’s oil and gas has put the region at the heart of the energy sector the last 100 years. These resources, plus plentiful sunshine, will see it continue to play a major role into the energy transition —...
Knock-for-Knock Indemnities: Risk Allocation in Offshore Energy Contracts
What are knock-for-knock indemnities? A knock-for-knock clause is a reciprocal agreement to apportion liability for certain losses (usually, death or injury to personnel and damage to property) between contracting parties, supported by mutual indemnities. A knock-for-knock regime replaces the fault-based...