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Imports Crude Oil

Sheppard Mullin Richter & Hampton LLP

The EU’s 11th Sanctions Package: The Long(er) Arm of the Law

On June 23, 2023, the EU released its 11th package of sanctions on Russia. This package is designed to improve enforcement with new anti-circumvention rules, new trade restrictions, and new designations. The...more

BakerHostetler

Current State of U.S. Economic Sanctions Imposed on the Russian Federation and Covered Regions of Ukraine in Response to the...

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This update addresses the full implementation of the price cap policy for crude oil and petroleum products of Russian origin by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). On Feb. 3, OFAC...more

Eversheds Sutherland (US) LLP

Russia and Belarus sanctions update - December 2022

Oil price cap - The oil price cap has been co-ordinated by the G7 in order to make EU, UK and US services (including (re)insurance) available to third country importers and exporters as long as the price paid for...more

Eversheds Sutherland (US) LLP

G7 proposes price cap to "amplify” existing sanctions

On September 2, 2022, the G7 Finance Ministers issued a statement confirming their intention to implement a price cap with respect to Russian-origin crude oil and petroleum products in response to Russia’s continued invasion...more

Opportune LLP

SPR Crude Oil Releases—It’s Complicated

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There have been media reports recently that have discussed the disposition of crude oil that is being released from the Strategic Petroleum Reserve (SPR). You may recall that the Biden Administration ordered emergency sales...more

White & Case LLP

Amendments regarding import and export permits for hydrocarbons and petroleum products

White & Case LLP on

Following our client alert published on November 17, 2020, it is informed that the Resolution that establishes the products whose import and exports is subject to regulation by the Ministry of Energy (the "Resolution") was...more

Akin Gump Strauss Hauer & Feld LLP

What’s Old Is New: The Trump Administration Weighs a Section 232 Redux on Crude Oil Imports

Over the past several months, softening demand and declining prices have wreaked havoc on domestic crude oil producers. Members of Congress and industry participants have pleaded with the Trump administration for relief,...more

Hicks Johnson

Update: Force Majeure Provisions in the Age of COVID-19

Hicks Johnson on

As the COVID-19 crisis and its economic fallout intensify, contractual parties have increasingly invoked force majeure provisions to excuse performance of contracts. This article is a follow up to Schiffer Hicks Johnson’s...more

Eversheds Sutherland (US) LLP

US Removes COSCO Shipping Arm from OFAC Sanctions List

On January 31, 2020, the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury removed sanctions on COSCO Shipping Tanker (Dalian). The delisting may have resulted from US-Chinese...more

Spilman Thomas & Battle, PLLC

Currents - Energy Industry Insights - November 2018

New York Sues Exxon Mobil, Saying It Deceived Shareholders on Climate Change - "The litigation, which follows more than three years of investigation, represents the most significant legal effort yet to establish that a...more

Spilman Thomas & Battle, PLLC

Currents - Energy Industry Insights - October 2018

China's Provinces are Secretly Building Coal Plants in Defiance of the National Government - "CoalSwarm, a global network of researchers tracking fossil-fuel infrastructure, analyzed satellite imagery as of July 2018, and...more

Spilman Thomas & Battle, PLLC

Currents - Energy Industry Insights - August 2018 #3

Federal Agency Halts All Work on Atlantic Coast Pipeline After Judges Revoke Permits - "The Federal Energy Regulatory Commission sent a letter to Dominion Energy, the company leading construction of the 600-mile pipeline,...more

Holland & Knight LLP

Mexico's Port Authority of Dos Bocas to Tender Oil and Gas Terminal, Two Facilities

Holland & Knight LLP on

Tabasco is known for being one of Mexico's oil states, with a very developed industry and fields. As such, the federal Port Authority Dos Bocas (API Dos Bocas), located in the southeast of the Gulf of Mexico, has an...more

Spilman Thomas & Battle, PLLC

Currents - Energy Industry Insights - June 2018 #2

LyondellBasell Looking to Control Braskem; Could Help WV Cracker - "A deal could breathe life into the ethane cracker Braskem proposed for a site near Parkersburg, W.Va., roughly five years ago." Why this is important:...more

Fox Rothschild LLP

OFAC Sanctions Smugglers Of Libyan Oil

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The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) recently sanctioned six individuals, twenty-four entities, and seven vessels for their role in the exportation, refining, brokering, and sale of...more

Latham & Watkins LLP

PF Newsletter: The Global Oil Economy

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With a sustained fall in crude oil prices since June 2014 — around US$40 per barrel at the time of writing (and as low as US$27 early in 2016) — our conventional understanding of the global oil economy continues to be...more

King & Spalding

Trade & Manufacturing - October 2015

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Ending the Crude Oil Export Ban - On September 17, the House Energy and Commerce Committee passed a bill to end the 40-year-old ban on the export of domestic crude oil. The Committee vote was passed by a Republican...more

King & Spalding

Finalized Iran Nuclear Deal Outlines Changes for U.S. and EU Sanctions

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On July 14, 2015, negotiators from Iran, the EU, and the P5+1 countries —China, France, Russia, the United Kingdom, the United States, and Germany—announced that they had reached a consensus on the final text of the Joint...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Sanctions Relief Under the P5+1 Agreement With Iran: Implications for US, EU and International Business"

Editor’s note: This article was updated on July 23, 2015, to Editor’s note: This article was updated on July 23, 2015, to reflect certain additional information in U.N. Security Council Resolution 2231. On July 14, 2015,...more

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