News & Analysis as of

Crude Oil

Here’s To Finishing The Week Strong

by Fox Rothschild LLP on

It is finally Friday. Many of us have had a long week and we are finishing the week strong. We are looking forward to a glass of champagne in our pjs since it is finally the weekend and we made it through the week. Ok, maybe...more

Light, Sweet Crude Oil And Prices

by Fox Rothschild LLP on

Today, the U.S. Energy Information Administration (“EIA”) issued its Today in Energy entitled U.S. Crude Oil Production Growth Projected to be Led by Light, Sweet Crude Oil. We all know that I have a sweet tooth, but we...more

Currents - Energy Industry Insights - March 2018 #3

Pipeline CEOs Vow to Fight Back Against Environmental Activism and Sabotage - "Executives from some of the biggest energy infrastructure companies in Canada and the United States say their industry had been surprised by...more

OFAC Sanctions Smugglers Of Libyan Oil

by Fox Rothschild LLP on

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

OFAC Issues New Sanctions to Block Illicit Oil Exports From Libya

by Reed Smith on

Concern over the illicit exploitation of crude oil in Libya caused the U.S. Department of the Treasury, Office of Foreign Assets Control (OFAC) to issue targeted sanctions against six individuals, 24 entities, and seven...more

Petition for Rulemaking Requests Standards of Conduct for Oil Pipelines

by Jackson Walker on

Airlines for America and the National Propane Gas Association (“Petitioners”) filed a Petition for Rulemaking on February 1, 2018, asking the Federal Energy Regulatory Commission (“FERC”) to extend its affiliate Standards of...more

January Is Good To Us…Once In A Blue Moon

by Fox Rothschild LLP on

For many, this month has been very good to us. January is traditionally a month of hope and resolutions that many feel will set the tone for the upcoming year. Based on this month, we are looking forward to a great...more

Resilience Is Key: Gingerbread And Oil Prices

by Fox Rothschild LLP on

For the first time during my holiday baking, I added gingerbread men to the baking list. I can’t emphasize how nervous I was to add gingerbread to my already long list of holiday baking items. We have all bitten in to a rock...more

Department of Transportation Repeals Controversial Rail Brake Rule

by Holland & Knight LLP on

In a decision that had become all but inevitable, the U.S. Department of Transportation (DOT), on December 4, 2017 rescinded its rule that would have required railroads carrying highly hazardous flammable materials, such as...more

Nebraska Approves Route for Keystone Pipeline XL

by King & Spalding on

On November 20, 2017, the Nebraska Public Service Commission (PSC) approved a route for the Keystone XL Pipeline (Pipeline) to pass through Nebraska. Although the approval is a significant milestone for the Pipeline and the...more

Oil Prices Reflecting Cold Feet?

by Fox Rothschild LLP on

Just recently, oil prices hit a two-year high – but now, this week they have started to head lower. What is going on? Are sliding oil prices a reflection of cold feet? As I write this, according to Bloomberg Energy, WTI...more

Association of Irritated Residents v. Kern County: Temporary Shutdown Does Not Reset the Baseline for CEQA Environmental Analysis

On November 21, the California Fifth District Court of Appeal issued its decision in Association of Irritated Residents v. Kern County Board of Supervisors, 2017 WL 5590096, a challenge to the County’s Environmental Impact...more

Oil Spill/Water Enforcement: Mississippi Commission on Environmental Quality and Vicksburg, Mississippi River Barge Operator Enter...

The Mississippi Commission on Environmental Quality (“MCEQ”) and Magnolia Marine Transport (“MMT”) entered into a November 1st Agreed Order (“AO”) addressing alleged violation of a provision of the Mississippi Code addressing...more

House and Senate Tax Reform Proposals Diverge on Energy Provisions

by Holland & Knight LLP on

On November 2, House Republicans introduced H.R. 1, the Tax Cuts and Jobs Act. Senate Republicans followed suit shortly thereafter, releasing their proposal on November 9. The House Ways & Means Committee concluded its markup...more

Oil’s Dance Moves: From Contango Into Backwardation

by Fox Rothschild LLP on

Last August, I wrote a blog entitled, “Did you just ask me to dance the Contango?” It explained, in detail, oil prices being in Contango – the “situation where the future spot price is below the current price, and people are...more

Are We Having An Oil Rally?! Hold The Champagne…

by Fox Rothschild LLP on

I just read an online article in Fortune entitled, “Oil Prices Have Rallied. So Why is No One Celebrating?” and for a moment, I thought to myself, “wait, is this really a rally?” Grab the champagne! As I write this blog,...more

Pumpkin Patches And Prices

by Fox Rothschild LLP on

This weekend, I did the quintessential fall activity – visited the pumpkin patch at our local Anderson Farms! The perfect way to spend a fall day; we even got a little lost in the corn maze before picking out the perfect...more

Price of Oil, Rig Count And Lease Sale: Show Me The Money!

by Fox Rothschild LLP on

After reading this weekend’s headlines and checking the stock market, Tom Cruise in the movie Jerry Maguire yelling, “SHOW ME THE MONEY” has been ringing in my head this afternoon....more

Pioneering Offshore Access to the China Commodities Futures Markets – The INE and its Medium Sour Crude Oil Contract

by Reed Smith on

The opening up of the futures markets for commodity products in China has been much discussed and highly anticipated. However, it looks like a crude oil futures contract, listed on the Shanghai International Energy Exchange...more

The Strategic Petroleum Reserve and Hurricanes: A Primer

by Latham & Watkins LLP on

Often used in response to major hurricanes, the SPR remains a strategic asset to protect against disruption in US crude oil supplies. In response to the devastation caused by Hurricane Harvey, US Department of Energy (DOE)...more

Supply Is Key: Palisade Peach Pies And Oil Markets

by Fox Rothschild LLP on

We are in the heart of an early peach season in Colorado. In fact, according to the Denver Post article entitled, “Palisade Peaches Ripen Early Because of Colorado’s Heat Wave,” peach season began a little early this year....more

Pipeline Partnership Verdict Reversed

by Gray Reed & McGraw on

Enterprise Products Partners, L.P. et al v. Energy Transfer Partners, L.P. et al reversed one of the largest jury verdicts in Texas history. You will like this decision if... ...more

EIA: U.S. Crude Oil Production Forecast Expected to Reach Record High in 2018

by Kelley Drye & Warren LLP on

“In EIA’s latest Short-Term Energy Outlook (STEO), total U.S. crude oil production is forecast to average 9.3 million barrels per day (b/d) in 2017, up 0.5 million b/d from 2016. In 2018, EIA expects crude oil production to...more

Business Litigation Alert - "Enterprise Products v. ETP: No Legal Obligation really means No Legal Obligation"

by Porter Hedges LLP on

A Texas Court of Appeals ruled this week that when companies agree in writing that they have no legal obligations to proceed with a project, they mean it. That may appear to be a simple concept but a jury came to a different...more

Craving Another Long Weekend? So Are OPEC Members…

by Fox Rothschild LLP on

This morning, I read a Bloomberg article entitled, These Numbers Show the Huge Challenges Now Facing OPEC Members, that stated, “[t]he price of a barrel of Brent crude has more than halved over the past five years, triggering...more

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