Legal News

 

Reuters: Chinese Offshore Oil Firm CNOOC Prepares Western Retreat over Sanctions Fear

Apr 13, 2022

China's top offshore oil and gas producer CNOOC Ltd. is preparing to exit its operations in Britain, Canada, and the United States, because of concerns in Beijing the assets could become subject to Western sanctions, industry sources said.Ties between China and the West have long been strained by trade and human rights issues and the tension has grown following Russia's invasion of Ukraine, which China has refused to condemn…

US Court Vacates Decision to Block Federal Oil, Gas Leasing Pause

Aug 18, 2022

A U.S. appeals court on Wednesday vacated a lower court's decision to block the Biden administration's pause on new oil and gas leasing on federal land and waters - a key piece of the president's climate change strategy - and sent the case back to that court for further proceedings…

Offshore Wind: Agreement Opens Dutch Waters to Danish Vessels

May 09, 2022

A new agreement between Denmark and the Netherlands enhances the competitive situation for Danish ships operating within the offshore sector in the Netherlands.With the agreement, the authorities of the two countries mutually accept that high…

Shell Filed Appeal Against Landmark Dutch Climate Ruling

Mar 29, 2022

Energy major Shell has filed its appeal against a Dutch court ruling that ordered the oil, gas and fuel producer to cut its emissions faster in a landmark win for activists turning to courts to force climate action.While Shell had set itself a target to reach net zero carbon neutrality by 2050…

Second Unaoil Bribery Conviction Quashed, as Ex-SBM Offshore Manager Wins Appeal

Mar 25, 2022

A second man convicted in Britain over how oil contracts were secured in post-occupation Iraq has had his conviction overturned by a London court, further unraveling a blockbuster bribery case prosecuted by the UK Serious Fraud Office (SFO)…

UK Sanctions Gazprombank, Alfa Bank and Sovcomflot

Mar 24, 2022

Britain froze the assets of Russia's Gazprombank and Alfa Bank, and the state-run shipping firm Sovcomflot FLOT.MM, in its latest round of sanctions announced on Thursday.They were among 59 individuals and entities added to the sanctions list…

Spain Detains Yacht Thought to Be Owned by Rosneft CEO

Mar 16, 2022

Spanish authorities on Wednesday detained a mega-yacht called 'Crescent' that is believed to belong to Igor Sechin, the sanctioned chief executive of Russian oil giant Rosneft, a police source told Reuters.The 135-metre-long yacht, described…

UK to Phase Out Russian Oil Imports By End of 2022

Mar 08, 2022

Britain will phase out imports of Russian oil and oil products by the end of 2022, Prime Minister Boris Johnson said on Tuesday, joining other nations including the United States in reducing their energy dependency on Russia.In response to President Vladimir Putin's decision to invade of Ukraine…

Biden Bans Russia Oil Imports to the US

Mar 08, 2022

U.S. President Joe Biden announced a ban on Russian oil and other energy imports on Tuesday in retaliation for the invasion of Ukraine, underscoring strong bipartisan support for a move that he acknowledged would drive up U.S. energy prices…

Cranes: Mammoet Investigating Potential Patent Infringement by Huisman and BMS

Feb 03, 2022

Update (April 29, 2022): A court has ruled that Mammoet unlawfully accused Huisman of crane patent violation. Read more here:  https://bit.ly/3y1bmeFDutch heavy lifting and transportation company Mammoet said Thursday it was investigating a…

Energy Transfer Must Pay Williams $410 Million for Abandoning $33 Billion Merger

Dec 30, 2021

A Delaware judge ordered oil pipeline operator Energy Transfer LP to pay rival Williams Cos $410 million for abandoning their $33 billion merger, one of the largest transactions to fall victim to sinking oil prices.In a 95-page decision on Wednesday…

Courts Suspend Petrobras Natgas Price Hikes

Dec 29, 2021

Courts in four Brazilian states have suspended a 50% hike in natural gas prices planned by state-run oil company Petrobras, likely kicking off an intense legal battle between the firm, the distributors that buy its fuel and various political authorities…

U.S. Officials: Nord Stream 2 Pipeline to be Shut Down if Russia Invades Ukraine

Dec 08, 2021

U.S. officials have told members of Congress they have an understanding with Germany about shutting down the Nord Stream 2 natural gas pipeline if Russia invades Ukraine, a senior congressional aide told Reuters on Tuesday.The White House said…

Gas Price Windfall Makes Gazprom Patient Over Nord Stream 2 Delay

Dec 03, 2021

Windfall revenues from high European gas prices mean Russia's Gazprom will not start pumping gas through the Nord Stream 2 pipeline before certification and it will not press Germany to speed up the process, two sources said.Pumping gas without the German approval would only incur a modest fine…

Morgan Stanley Slashes Q1 2022 Brent Crude Price Forecast on Omicron Risks

Nov 29, 2021

Morgan Stanley on Monday cut its first quarter 2022 Brent crude price forecast to $82.50 per barrel from $95 on market expectations that the Omicron coronavirus variant could turn into a major headwind for oil demand.The market appears to be…

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