Energy

  • May 29, 2024

    Treasury Details Which Tech Would Get Clean Energy Credits

    Treasury released proposed rules Wednesday outlining which technologies would qualify for new zero-emission energy tax credits, saying wind, solar and geothermal are among those that would make the cut.

  • May 29, 2024

    Wachtell, Kirkland Steer $22.5B ConocoPhillips-Marathon Deal

    Wachtell Lipton Rosen & Katz-advised ConocoPhillips has agreed to acquire Marathon Oil, represented by Kirkland & Ellis LLP, in an all-stock transaction with an enterprise value of $22.5 billion, inclusive of $5.4 billion of debt, the companies said Wednesday. 

  • May 28, 2024

    Orsted Inks $125M Deal With NJ Over Scrapped Wind Farms

    Orsted, a Danish wind energy company, has agreed to pay New Jersey $125 million to settle claims over the company's abrupt cancellation last fall of two offshore wind farms.

  • May 28, 2024

    White House Looks To Boost Carbon Credit Market Integrity

    The Biden administration on Tuesday released new guidelines for voluntary carbon markets, touting the measures as a foundation for "ambitious and credible climate action" that also attempts to address questions about the integrity of credits that companies use to show a greener footprint.

  • May 28, 2024

    Chevron Confident As Hess Shareholders Approve $53B Deal

    Hess Corp. said Tuesday it has received the necessary stockholder approvals to close its $53 billion sale to Chevron Corp., as Chevron separately expressed confidence that it will prevail in an ongoing dispute with Exxon Mobil Corp. and wrap up the regulatory process soon.

  • May 28, 2024

    Tribe Says Enbridge's Trespass Concern Wasted Court's Time

    A Wisconsin tribe has told the Seventh Circuit that Enbridge Energy wasted the court's time raising concerns that an old tribal trespass ordinance could cost the company millions in fines, saying it has nothing to do with the tribe's attempts to stop the Line 5 pipeline.

  • May 28, 2024

    Catching Up With Delaware's Chancery Court

    Delaware Court of Chancery watchers shifted their focus last week from the courtroom to Dover's legislative hall, as proposed amendments to Delaware's corporate code were finally introduced to state lawmakers. Hearings, decisions and reversals involved Kraft-Heinz, AMC Entertainment and the merger of cryptocurrency companies BitGo and Galaxy. In case you missed it, here's the latest from Delaware's Chancery Court.  

  • May 28, 2024

    EEX, Nasdaq Power Offer EU Fixes For Deal

    European Energy Exchange AG and Nasdaq have offered fixes for potential competition concerns raised by the planned sale of Nasdaq's European power trading and clearing business after enforcers in several European member states referred the deal for a review.

  • May 28, 2024

    FERC Wrong To Backtrack On Grid Project Plan, DC Circ. Told

    The Federal Energy Regulatory Commission unlawfully reversed course on a regional grid operator's plan to spread out the costs of transmission upgrade projects, unfairly saddling customers within certain areas with higher bills, two Kansas electricity cooperatives have told the D.C. Circuit.

  • May 28, 2024

    Int'l Judge Pushes Back Against Russia Amicus Allegations

    Prominent arbitrator and international Judge Charles Brower is pushing back against claims from the Kremlin that conflicts of interest should bar his amicus brief to the D.C. Circuit in support of Yukos Oil Co. shareholders' $50 billion arbitration enforcement.

  • May 28, 2024

    Del. Justices Say Interest Includes Prejudgment Interest

    Delaware's top court ruled Tuesday that accrued interest on judgments must include prejudgment interest, in a ruling on a $36 million Delaware Superior Court jury verdict in February 2023 favoring institutional broker-adviser LCT Capital in a merger services dispute with NGL Energy Partners.

  • May 28, 2024

    Exxon Investor Broadens Promise To Nix Climate Proxy Bid

    An activist investor sued by Exxon Mobil Corp. over a now-withdrawn shareholder proposal concerning climate change has again called on the oil giant to withdraw its suit after broadening its previous promise not to resubmit the proposal in the future.

  • May 28, 2024

    5 Firms To Steer Pair Of Large IPOs That Could Net $1.8B Total

    Private-equity backed hospital billing firm Waystar Holding Corp. and aluminum recycling giant Novelis Inc. on Tuesday launched plans for two initial public offerings that could raise an estimated $1.8 billion combined, guided by five law firms, potentially testing the strength of the IPO market's recovery.

  • May 28, 2024

    V&E, Sidley Austin Build $3.25B Sale Of WTG Midstream

    Vinson & Elkins LLP-advised Energy Transfer on Tuesday announced plans to purchase privately held midstream company WTG Midstream, advised by Sidley Austin LLP, in a deal valued at roughly $3.25 billion.

  • May 28, 2024

    Tax Lawyer Rejoins Mayer Brown In DC From Latham

    Mayer Brown LLP has rehired a tax partner from Latham & Watkins LLP, who joins the firm in Washington, D.C., to continue working with clients to best utilize renewable energy tax credits, the firm announced Tuesday.

  • May 28, 2024

    Energy Capital Raises $6.7B, Inks $2.6B Atlantica Acquisition

    Energy Capital Partners has amassed $6.7 billion for its latest fund and co-investment vehicle and has also struck an agreement to buy Atlantica Sustainable Infrastructure for $2.6 billion, according to statements Tuesday. 

  • May 28, 2024

    Chinese EV Co. Falsely Touted Vehicle Demand, Suit Claims

    China-based electric vehicle maker Li Auto Inc. and three of its executives are facing a proposed class action faulting the company for allegedly hurting investors after it announced it would fall well short of ambitious production goals in early 2024.

  • May 28, 2024

    Justices Pass On Fight Over FERC Power Market Cap Rule

    The U.S. Supreme Court on Tuesday declined to review a D.C. Circuit decision backing the Federal Energy Regulatory Commission's change of bidding practices for electricity capacity auctions run by PJM Interconnection, the nation's largest regional grid operator.

  • May 24, 2024

    China Tariffs To Return For Air Fryers, Bikes, Chairs In June

    The Office of the U.S. Trade Representative announced Friday the end of tariff relief for hundreds of items currently exempt from duties covering over $300 billion worth of Chinese goods, with mainly commercial product exclusions set to continue.

  • May 24, 2024

    Red States Target Blue States In Push To End Climate Torts

    A novel red-state request that the U.S. Supreme Court nix climate change torts brought by state governments against fossil fuel companies can be seen as an attempt to urge the justices not to pass up another opportunity to weigh in on the issue, legal experts told Law360.

  • May 24, 2024

    Enbridge Says Oil Transport Monopoly Claims Lack Merit

    Enbridge Inc. fired back at an antitrust suit accusing it of intentionally killing a pipeline terminal project that would have resulted in the company losing its monopoly power over crude oil transportation in the Chicago area, calling for an Illinois federal judge to dismiss the claims.

  • May 24, 2024

    Ohio Justices Say Regulator Must Take Freezing Death Case

    An Ohio trial court cannot hear a lawsuit seeking to hold Dominion Energy liable for a woman's freezing death after her natural gas was shut off, the state Supreme Court ruled Friday, reasoning the matter belongs before the state's utilities regulator because the shutoff was an act authorized by the utility.

  • May 24, 2024

    5th Circ. Again Upholds Engineers' OT Win

    A Fifth Circuit panel on Friday backed for the second time a lower court's ruling that two engineers receiving a weekly minimum salary as part of their compensation package were not overtime-exempt and sent the case back to the district court to determine damages awards.

  • May 24, 2024

    Atty Says Loss Of BP Spill Claim Was Client's Fault, Not Firm's

    Texas attorney Brent W. Coon has told a Houston court that his firm's alleged botching of a former client's lawsuit stemming from the 2010 Deepwater Horizon spill was actually the client's fault, as he failed to provide the firm with a sworn statement to attach to his complaint per a court's order.

  • May 24, 2024

    Engineering Co. Mismanaged 401(k) Plan, Ex-Worker Says

    An engineering company forced participants in its $5.1 billion retirement plan to pay lofty administrative fees by automatically enrolling them into expensive managed account programs, thereby breaching federal benefits law, according to a proposed class action filed in Virginia federal court Friday.

Expert Analysis

  • New Hydrogen Regulations Show The Need For IP Protections

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    The introduction of hydrogen regulations, such as the IRS' proposed tax credit for clean hydrogen under the Inflation Reduction Act, are reshaping the competitive landscape, with intellectual property rights an area of increased emphasis, say Evan Glass and James De Vellis at Foley & Lardner.

  • Series

    ESG Around The World: Gulf Cooperation Council

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    The Gulf Cooperation Council is in the early stages of ESG policy implementation, but recent commitments by both states and corporations — including increases in sustainable finance transactions, environmental commitments, female representation on boards and human rights enforcement — show continuing progress toward broader ESG goals, say attorneys at Cleary.

  • Steps For Companies New To Sanctions Compliance

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    Businesses newly required to implement compliance programs due to the increased breadth of mandatory sanctions and export controls, including 500 additional Russia sanctions announced last Friday, should closely follow the guidance issued by the Office of Foreign Assets Control and other regulators, say Jennifer Schubert and Megan Church at MoloLamken.

  • 6 Pointers For Attys To Build Trust, Credibility On Social Media

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    In an era of information overload, attorneys can use social media strategically — from making infographics to leveraging targeted advertising — to cut through the noise and establish a reputation among current and potential clients, says Marly Broudie at SocialEyes Communications.

  • Why Biz Groups Disagree On Ending Chevron Deference

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    Two amicus briefs filed in advance of last month's U.S. Supreme Court oral arguments in Loper Bright Enterprises v. Raimondo highlight contrasting views on whether the doctrine of Chevron deference promotes or undermines the stable regulatory environment that businesses require, say Wyatt Kendall and Sydney Brogden at Morris Manning.

  • A Look Ahead For The Electric Vehicle Charging Industry

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    This will likely be an eventful year for the electric vehicle market as government efforts to accelerate their adoption inevitably clash with backlash from supporters of the petroleum industry, say Rue Phillips at SkillFusion and Enid Joffe at Green Paradigm Consulting.

  • A Post-Mortem Analysis Of Stroock's Demise

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    After the dissolution of 147-year-old firm Stroock late last year shook up the legal world, a post-mortem analysis of the data reveals a long list of warning signs preceding the firm’s collapse — and provides some insight into how other firms might avoid the same disastrous fate, says Craig Savitzky at Leopard Solutions.

  • Opinion

    Exxon Court Should Clarify Shareholder Proposal Exclusion

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    ExxonMobil last month took the unusual action of asking a Texas federal judge whether a proposal from climate activists seeking to limit oil and gas sales could be excluded from its 2024 proxy statement, and the court should use this opportunity to reevaluate SEC policy and set clear limits on when shareholder proposals can be included, says Stephen Bainbridge at UCLA School of Law.

  • Challenges Remain In Financing Energy Transition Minerals

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    COP28, the latest U.N. climate conference, reached a consensus on a just and equitable transition from fossil fuels to renewable energy, but more action and funding will be needed to ensure that developed countries responsibly source the minerals that will be critical for this process, say attorneys at Watson Farley.

  • Exxon ESG Proxy Statement Suit May Chill Investor Proposals

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    Exxon Mobil’s recent use of a Texas federal lawsuit to intimidate shareholders into withdrawing a climate-friendly proxy proposal could inspire more public companies to sue to avoid adopting ESG resolutions — a power move that would chill activist investor participation and unbalance shareholder-corporate relations, say Domenico Minerva and James Fee at Labaton Keller.

  • Series

    Coaching High School Wrestling Makes Me A Better Lawyer

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    Coaching my son’s high school wrestling team has been great fun, but it’s also demonstrated how a legal career can benefit from certain experiences, such as embracing the unknown, studying the rules and engaging with new people, says Richard Davis at Maynard Nexsen.

  • What To Know About RWI In Acquisition And Divestiture Deals

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    As a slower pace of merger activity turns underwriters toward new industries, representations and warranties insurance policies are increasingly being written for acquisition and divestiture energy deals, making it important for contracting parties to understand how the RWI underwriting process works in this new sector, say attorneys at Haynes Boone.

  • Opinion

    New La. Gas Pipeline Projects Must Respect Rules And Rights

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    As pipeline developers rush to join in Louisiana's Haynesville Shale gas boom, established operators like Energy Transfer are justified in demanding that newer entrants respect safety rules, regulatory requirements and property rights when proposing routes that would cross existing pipelines, says Joshua Campbell at Campbell Law.

  • Freight Forwarders And Common Carriers: Know Your Cargo

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    Freight forwarders and other nonprincipal parties involved in global cargo movement should follow the guidance in the multi-agency know-your-cargo compliance note to avoid enforcement actions should they fail to spot evasive tactics used in supply chains to circumvent U.S. sanctions and export controls, say attorneys at Venable.

  • SG's Office Is Case Study To Help Close Legal Gender Gap

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    As women continue to be underrepresented in the upper echelons of the legal profession, law firms could learn from the example set by the Office of the Solicitor General, where culture and workplace policies have helped foster greater gender equality, say attorneys at Ocean Tomo.

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