Add the heft of Rice University’s respected Center for Energy Studies to the weight of scholarly analysis urging an end to America’s four-decades-old ban on domestic crude oil exports. In a new study, the center lays out a case for U.S. crude oil exports that builds on the findings of IHS, ICF, Brookings, the Aspen… Keep reading →
Continued growth of U.S. unconventional oil and gas production has made oil and gas exports attractive for industry. On February 10, 2015, the Energy Information Administration (EIA) issued a report highlighting the significant decrease in light crude oil imports to the U.S. Gulf Coast area, with light-sweet crude imports virtually eliminated in 2014. Since 2010,… Keep reading →
This regular publication by DLA Piper lawyers focuses on helping clients navigate the ever-changing business, legal and regulatory landscape.
With the global oil market in a situation where futures contract prices are higher than prevailing prices – known by traders as contango – there is an incentive to purchase crude now and hold it until oil prices recover. Indeed, the world’s largest trading houses have been chartering tankers and shares of oil tanker companies… Keep reading →
It appears the largest oil price decline since the 2008 economic and financial crises could be reaching a bottom. Maybe. Luckily we don’t have the displeasure of making oil price forecasts, like our colleague Ed Crooks the US Industry and Energy Editor at the Financial Times: Anyway, benchmark global oil futures prices rebounded today partially… Keep reading →
As the U.S.’s international trade in energy grows, so too has interest in the process for securing a federally required approval known as a Presidential Permit.
The construction, operation, and maintenance of infrastructure that crosses the U.S.’s border with Mexico or Canada — think pipelines, transmission lines, and bridges — generally requires prior authorization by the federal government in the form of a Presidential Permit. How you obtain a Presidential Permit depends on the type of facilities in question, as permits may be issued by several federal agencies under different legal authorities.
This week, following the successful hosting of the G20 summit, the Australian Federal Government signed a declaration of intention with China to bring into force a China-Australia Free Trade Agreement (ChAFTA). The agreement comes after a decade of negotiations between the two countries and is expected to be worth up to AUD18 billion to the Australian economy over the next few years. The agreement will ensure 85% of all Australian exports will enter the Chinese market tariff-free, rising to 93% within four years and 95% once it is fully operational.
Is It Time for the U.S. to Lift Its Restrictions on Oil Exports? Wall Street Journal (Jason Bordoff): It’s a whole new oil world for the U.S. After decades of declining domestic oil production, the country is in the middle of an unexpected boom. Driven by new technology that reaches previously inaccessible reserves, production has soared… Keep reading →
Energy Department Authorizes Freeport LNG to Export Liquefied Natural Gas WASHINGTON – The Energy Department announced today that it has issued two final authorizations for Freeport LNG Expansion, L.P. and FLNG Liquefaction, LLC (Freeport) to export domestically produced liquefied natural gas (LNG) to countries that do not have a Free Trade Agreement (FTA) with the… Keep reading →
Federal elections held nationwide on November 4 ushered in Republican control of the U.S. Senate and expanded the Republican majority in the U.S. House of Representatives. The Republicans now hold majorities in both houses of Congress, but because their majorities will not overcome a veto by President Barack Obama, a Democrat, Republicans will not wield unlimited legislative power. Although Congress is likely to remain deadlocked on major issues, the election may signal significant shifts in priorities for liquefied natural gas (LNG) export policies in the 114th Congress.
