ILO publishes a series of legal Newsletters which provide expert legal commentary in the form of concise, regular news updates. The Newsletters are written in collaboration with over 500 of the world's leading experts and cover more than 100 jurisdictions.
A recent decision of the Brazilian National Council for Energy Policy (CNPE) has brought uncertainty to the Brazilian market. The CNPE – which is responsible for establishing national energy policy – has decided to increase the amount of oil that Petrobras, a state-controlled company, is entitled to produce without competition in the pre-salt area by means of a mixed oil and gas regime.
During a heated debate on Greenland's natural resources in 2013, it was decided that Parliament would discuss the national community once a year. Thus, in April the prime minister gave the first official statement. Among other things, the extraction of rare earth metals, including uranium, was discussed.
In December 2013 Congress passed a constitutional amendment to overhaul the Mexican energy sector; the secondary legislation to implement the reform recently entered into force. This update covers the provisions affecting the electricity and geothermal energy sectors and highlights key preliminary considerations for existing market participants and those that will enter the market as a result of the overhaul.
The secondary legislation to implement Mexico's overhaul of its energy sector is now in force. While amending existing statutes to comply with the new framework, the legislative package includes a number of new laws. This update covers the provisions affecting the oil and gas sector and highlights key preliminary considerations for existing market participants and those that will enter the market as a result of the overhaul.
Following the enactment of the Oil and Gas Industry Content Development Act 2010, partnerships between foreign investors and local Nigerian partners are increasingly common in the oil and gas industry. An ongoing Federal High Court case highlights the concerns that arise under the act and its guidelines in the context of contractual arrangements involving foreign investors and their Nigerian partners.
One of the highlights of the new Electricity Market Law – which aims to improve energy regulation and attract greater investment in the electricity market – was the introduction of a new energy market operating company to establish and operate an electricity stock exchange. This update analyses its articles of association and highlights certain issues that potential shareholders should bear in mind.
The High Court has overruled an arbitrator's decision to hold that a clause requiring "friendly discussions" before commencing arbitration was an enforceable condition precedent to arbitration under English law. This case is interesting for the energy sector because it concerns the interpretation of escalation and multi-tiered dispute resolution clauses, which are common in energy and natural resources agreements.
For more information, please contact:
Tom Gillett, Manager
International Law Office
New Hibernia House
London, SE1 9AG
Tel: +44 20 7234 0606
Fax: +44 20 7234 0808