A district judge has temporarily suspended with general effects the amendment to the Hydrocarbons Law eliminating PEMEX’s asymmetric regulation.  Please see Legal Update at link below for all details.

https://www.mayerbrown.com/en/perspectives-events/publications/2021/06/mexico-district-judge-suspends-amendment-of-hydrocarbons-law-that-repealed-pemexs-asymmetric-regulation?utm_source=vuture&utm_medium=email&utm_campaign={vx:campaign%20name}

 

Two district judges have temporarily suspended certain provisions of the amendment to the Hydrocarbons Law.  Please see full story at link below.

https://www.mayerbrown.com/en/perspectives-events/publications/2021/05/mexico-amendment-to-hydrocarbons-law-is-partially-suspended?utm_source=vuture&utm_medium=email&utm_campaign={vx:campaign%20name}

On March 17, 2021, U.S. Senators Chris Coons (D-Del.) and Bill Cassidy, M.D. (R-La.) and U.S. Representatives Marc Veasey (D-Texas) and David McKinley (R-W.Va.) introduced the Storing CO2 And Lowering Emissions (SCALE) Act. The bill is intended to help develop infrastructure buildout to transport CO2 from the capture site to be used as feedstock for the manufacture of other products, to oilfields where it is injected to enhance oil recovery, or to underground storage locations.  CO2 capture projects are expensive and the EPA permitting process for storage facilities is lengthy.  Thus, project financing and permitting are key drivers to determine the speed and scope at which global climate goals with respect to greenhouse gas reduction are achieved.  The 45Q tax credit for carbon capture and sequestration incentivizes carbon capture but is not by itself economically sufficient to provide the necessary equipment and transportation infrastructure.

Continue Reading US – Storing CO2 And Lowering Emissions (SCALE) Act

The Resolution That Establishes the Goods Whose Import and Export Are Subject to Regulations Issued by the Ministry of Energy was officially suspended by the Ministry of Economy and the Ministry of Energy through a publication in the Federal Official Gazette.

This Legal Update details the content of such publication.

 

In November we wrote about the UK’s National Security and Investment Bill, which promises to give rise to the most significant changes to the treatment of mergers and acquisitions in the UK for many years. In January, we discussed the Bill at more length at the Mayer Brown Oil & Gas Lawyers’ Forum and

On January 27, 2021, President Biden signed Executive Order 14008, Tackling the Climate Crisis at Home and Abroad (the “Order”). The Order sets forth the Biden administration’s policies to address climate change through both foreign and domestic policies and demonstrates the administration’s intent to make addressing climate change a top priority for nearly every department

Since US President Biden’s inauguration, the Biden administration has taken several actions to restrict the issuance of oil and gas permits for production on federal public lands and federal offshore waters, but the extent of the shift in policy undertaken remains uncertain as the US Department of Interior has continued to issue permits for drilling

On January 20, 2021, US President Joseph Biden signed a series of executive orders, including one titled “Protecting Public Health and the Environment and Restoring Science to Tackle the Climate Crisis.” This executive order contains a series of directives to federal agencies and departments that will significantly impact the energy sector and signals the high

Although the incoming Biden administration has put forth bits and pieces of a variety of potential tax reforms and incentives, two focus areas have clearly emerged—a reduction or rollback of certain provisions of the 2017 Tax Cuts and Jobs Act and a focus on clean energy and reducing carbon emissions (while promoting US-based manufacturing). Policy

On December 21, 2020, the National Agency of Petroleum, Natural Gas and Biofuels (“ANP”) published (i) Resolution No. 835/2020, which extends the effective term of certain ANP resolutions with measures related to the public health emergency situation caused by COVID-19 (“Resolution No. 835”), and (ii) Resolution No. 836/2020, which defines the procedures to be followed by entities regulated by the ANP that perform oil and natural gas exploration and production activities, also in consideration of the COVID-19 situation (“Resolution No. 836”).


Continue Reading Brazil’s National Agency of Petroleum Publishes Resolutions Maintaining Measures Related to COVID-19