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Shipping Oil & Gas

Foley Hoag LLP

OFAC Publishes Maritime Oil Industry Advisory and Makes Example of Shipping Companies and Vessels Who Violated G7’s Price Cap...

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On October 12, 2023, the Department of the Treasury's Office of Foreign Assets Control (“OFAC”) published a Maritime Oil Industry Advisory (“Advisory”)—together with the so-called Price Cap Coalition (“Coalition”), consisting...more

Eversheds Sutherland (US) LLP

Services ban and EU import ban come into effect for seaborne Russian petroleum products

On February 5, 2023, the G7 announced that the “price cap” on western-backed seaborne trades of Russian-origin petroleum products to third countries would be set at $45 per barrel ($45/bbl) for Discount to Crude petroleum...more

The Volkov Law Group

United States and Allies Set Price Cap on Russian Oil — $60 Per Barrel (Part I of IV)

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The G-7, the European Union and Australia officially announced a price cap on Russian oil, which includes service and shipping restrictions on oil originating from the Russian Federation and trading above $60 per barrel. ...more

Holland & Knight LLP

OFAC Places Price Cap on Maritime Services Related to Russian Oil

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The U.S. Department of the Treasury Office of Foreign Asset Control (OFAC) on Nov. 21, 2022, published a determination pursuant to E.O. 14071 prohibiting U.S. persons from providing certain services related to the maritime...more

Eversheds Sutherland (US) LLP

OFAC issues guidance on maritime services price cap for seaborne Russian oil

​​​​​​​As a follow up to our alert of September 7th regarding the G7 proposal to implement a price cap with respect to seaborne Russian-origin crude oil and petroleum products, the Office of Foreign Assets Control (OFAC)...more

Holland & Knight LLP

Jones Act Waivers Following Natural Disasters

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While the United States continues to assess the full scope of the devastating aftermath of Hurricane Ida on the U.S. Gulf Coast, national media have already reported shortages of oil and fuel supplies, as well as food and...more

Opportune LLP

Waves Of Change: Assessing The Potential Impact Of A Carbon Levy On Shipping Costs

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A proposed carbon levy is the latest in a wave of change potentially facing the global shipping industry....more

Morrison & Foerster LLP

Following U.S. Lead, UK Office Of Financial Sanctions Implementation Issues Maritime Guidance

Much of the world’s focus is on the COVID-19 pandemic, and rightfully so, but sanctions regulators also have their gazes fixed on another issue: the maritime industry. On May 14 2020, we saw the U.S. Departments of State and...more

A&O Shearman

Sanctions Round Up Second Quarter 2020

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This quarter, the U.S. announced new sanctions and trade restrictions on China in response to its recent encroachments on Hong Kong and its reported mistreatment of ethnic minorities. OFAC continued to target shipping...more

Society of Corporate Compliance and Ethics...

Sanctions news: US targets China, Syria, Venezuela and Iran

Report on Supply Chain Compliance 3, no. 7 (April 2020) The United States Department of the Treasury’s Office of Foreign Assets Control has stayed busy during the coronavirus outbreak. The office made several new additions...more

Allen Matkins

California Environmental Law & Policy Update - March 2020 #2

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Federal judge rules California-Quebec cap-and-trade agreement is valid - San Francisco Chronicle – March 12 - California’s agreement with Quebec to share cap-and-trade markets to reduce greenhouse gases survived its...more

Society of Corporate Compliance and Ethics...

Sanctions news: COSCO de-listed; settlement between OFAC and Eagle Shipping; SDN update

Report on Supply Chain Compliance 3, no. 4 (February 20, 2020) - The United States lifted sanctions[1] on a subsidiary of COSCO Shipping Corporation Ltd., the Chinese shipping giant. Last September, the U.S. Department of...more

White & Case LLP

LNG in transition: Navigating an evolving market - Are the changes reshaping the market structural or short-term?

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Significant energy market developments are raising questions for LNG sector players in Japan and worldwide. Following massive growth in the number of LNG production and export facilities, end-users and shipping capacity, the...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

Mitchell, Williams, Selig, Gates & Woodyard,...

Proposed Methanol Manufacturing/Shipping Terminal (Kalama, Washington): Sierra Club Files National Environmental Policy Act...

The Sierra Club and several other organizations (collectively “Sierra Club”) filed a Complaint for Declaratory and Injunctive Relief (“Complaint”) in the United States District Court for the Western District of Washington...more

Opportune LLP

Planning for IMO 2020: The Cost of Non-Compliance

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On January 1, 2020, the new International Maritime Organization’s regulation—dubbed “IMO 2020”—for sulfur reduction from 3.5% to 0.5% will go into effect. The regulation stipulates that oceangoing vessels must use either a...more

King & Spalding

Energy Newsletter - November 2019

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The IMO and the Price of Gas or The Impact of the International Maritime Organisation’s Sulphur 2020 Limit for Marine Fuel Oil on the Price of Gas - The main bunker fuel for ships is High Sulphur Fuel Oil (HSFO, with...more

Dorsey & Whitney LLP

Enbridge Open Season Terminated by Canada Energy Regulator

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On September 27, 2019, the Canada Energy Regulator (CER), formerly the National Energy Board (NEB), ordered Enbridge to terminate the open season process that had begun on August 2, 2019.  The order terminates a controversial...more

Opportune LLP

Q&A: Opportune’s Matt Flanagan Addresses IMO 2020 Challenges, Opportunities

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In just a few months, on January 1, 2020, a new, sweeping global regulation is scheduled to go into effect that caps the amount of allowable sulfur content in all marine fuels used by ocean-going vessels from its current...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Hazardous Materials/Transportation: U.S. Pipeline and Hazardous Materials Safety Administration Addresses Overpacking Question

The United States Pipeline and Hazardous Materials Safety Administration (“PHMSA”) in a February 25th letter provided clarification of the Hazardous Materials Regulations (“HMR”) applicable to the shipment of hazardous...more

Opportune LLP

IMO 2020 Full Sail Ahead: Incoming Waves for Refiners, Shipowners

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As of January 1, 2020, the International Maritime Organization (IMO) will begin enforcing a new regulation (IMO 2020) that caps the allowable sulfur content of all marine fuels from its current level of 3.5% m/m (mass/mass)...more

K&L Gates LLP

2020 Global Low Sulfur Fuel

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Enforcement is Getting Closer, but for Vessel Owners, Operators, Charterers, and Others, Visibility Remains Cloudy - In our July 9, 2018, alert titled “Do You Clearly See What’s Coming: Having 20/20 Vision For the New 2020...more

Skadden, Arps, Slate, Meagher & Flom LLP

US Implements First Round of Iran Sanctions ‘Snap Back’

On August 6, 2018, President Donald Trump issued Executive Order 13846 to reimpose certain nuclear-related sanctions against Iran that had previously been suspended in January 2016 in connection with the United States’...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

Small-Scale LNG Exports Presumptively Approved

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Following recent developments in liquefied natural gas (LNG) export policy in which we outlined in previous blog posts on June 12, 2018 and June 22, 2018, the Department of Energy (DOE) Office of Fossil Energy issued a Final...more

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