Bracewell & Giuliani

Powered by the attorneys of Bracewell & Giuliani, Energy Legal Blog® is your resource for updates and analysis on national and global energy issues.
  1. FERC Issues 2015 Report On Enforcement

    Tuesday, November 24, 2015 5:00 pm by and

    On November 19, 2015, the Federal Energy Regulatory Commission (“FERC”) released its annual report on enforcement activities for fiscal year 2015.  The report highlights FERC’s continued focus on incidents involving fraud, market manipulation, and other anticompetitive conduct in the markets subject to its jurisdiction.  It also highlights the types of activities and conduct that have been subject to FERC scrutiny over the past year and provides informal guidance that jurisdictional entities should consider when evaluating their own conduct and compliance programs. (more…)

  2. Recent Drone Developments and a Look Ahead to 2016

    Friday, November 13, 2015 3:56 pm by

    The 2012 Federal Aviation Administration Modernization and Reform Act called for the Federal Aviation Administration (“FAA”) to institute a program to facilitate the safe integration of civil unmanned aircraft systems (“UAS”) into the National Airspace System (“NAS”) by September 30, 2015. While the legislatively imposed deadline passed with no regulatory program in place – and such a program is unlikely to be finalized until at least mid-2016 – 2015 has been a year for significant developments in UAS integration. FAA’s approvals under the Section 333 exemption process have skyrocketed, drafting of the final small UAS rule is wrapping up, the FAA recently proposed the largest penalty ever for the unauthorized operation of a UAS and announced the creation of a UAS Registration Task Force. (more…)

  3. Monthly Futures Exchange Issuance Report: October 2015

    2:11 pm by , , and

    October’s Highlight

    October saw the first criminal conviction pursuant to Section 4c(a) for spoofing.  A jury concluded that for approximately three months, an individual used a computer algorithm to place orders he did not intend to execute for the purpose of giving the impression that there was significant interest in orders he placed on the other side of the market.  The individual and his trading company had already settled allegations of spoofing with multiple CME Group exchanges (CBOT, CEI, CME, and NYMEX) as well as the CFTC in 2013.  The CFTC settlement required both to pay a $1.4 million civil penalty and disgorge $1.4 million in trading profits, and included a ban from trading on any CFTC-registered entity for one year.  Further, the indivdiual also was ordered to pay the CME exchanges a combined $200,000 fine and $1.3 million in disgorgement, in addition to exchange-specific trading bans. (more…)

  4. What Constitutes a Reasonable and Prudent Operator?

    9:18 am by , and

    The English Commercial Court interprets the definition of the standard of a “Reasonable and Prudent Operator” in the context of a dispute relating to long term gas sales agreements

    The phrase “reasonable and prudent operator” is frequently used in commercial contracts in the oil and gas industry to specify the standard at which a party must perform a particular obligation (or group of obligations).  Helpfully, contracts often define the phrase in order to give the content of that standard greater substance, albeit a definition that inevitably imports a degree of subjective judgement. (more…)

  5. Obama Administration Adopts Wide-Ranging Natural Resource Mitigation Requirements

    Tuesday, November 3, 2015 5:42 pm by and

    Earlier today, the Obama Administration adopted an expansive set of mitigation requirements for all its natural resource management agencies. Under the voluntary policy, the Department of Defense, Department of the Interior, Department of Agriculture, Environmental Protection Agency, and National Oceanic and Atmospheric Administration will aim “to avoid and then minimize harmful effects to land, water, wildlife, and other ecological resources (natural resources) caused by land- or water-disturbing activities, and to ensure that any remaining harmful effects” are effectively mitigated. (more…)

  6. The UK’s New Reporting Obligations on Modern Slavery and Human Trafficking

    Friday, October 30, 2015 2:30 pm by and


    A “Race to The Top” to Tackle an Atrocious Global Problem


    Companies or partnerships carrying on business in the UK with an annual turnover of £36 million (around US$55.5 million) or more will now, for the first time, be required to publish an annual statement setting out the steps they have taken to ensure that there is no modern slavery or human trafficking in their own business and their supply chains.

    This is not sector specific such that only banks or energy companies (for example) are impacted.  This is relevant for all companies who fall within these new reporting obligations.  (more…)

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