Energy - Oil & Gas

Recent Articles

•  

  25/06/2024

  Bulgaria

  Bulgaria re-launches Han Tervel Block oil & gas exploration tender

  The long-awaited Han Tervel tender procedure has been opened for bidding following the adoption of the Council of Ministers’ decision dated 23 August 2023 and its recent publication in the Official Journal of the EU.The deadline for submitting applications will be 17:30 EET (Bulgarian time) on 5 November 2024 and the deadline for submitting offers will be 17:30 EET (Bulgarian time) on 20 November 2024. The price of the tender documents will be BGN 10,000 (EUR 5,000) and the documents can be purchased from the Ministry of Energy.The recent extraction developments in the Black Sea and...

  Read more
•  

  21/06/2024

  United Kingdom

  Finch: Supreme Court decision on environmental impact assessment regulations and the requirement to assess “scope 3” emissions

  The UK Supreme Court has handed down its much-awaited decision in R (on the application of Finch on behalf of Weald Action Group) (Appellant) v Surrey County Council and others (Respondent) (“Finch”). The case concerned a challenge to a development consent for an onshore oil and gas development on the basis that the relevant environmental impact assessment (EIA) did not consider indirect (commonly referred to as ‘scope 3’ or ‘downstream’) emissions from the combustion of eventually refined hydrocarbons produced by the development. The court’s decision –...

  Read more
•  

  24/05/2024

  United Kingdom

  Oil, gas and commodities: Supreme Court overturns Court of Appeal on force majeure

  On 15 May 2024, the Supreme Court unanimously overturned the Court of Appeal’s decision that a ‘reasonable endeavours’ obligation in a force majeure clause could require a party to accept alternative, or non-contractual, performance.The Supreme Court clarified the law on force majeure clauses by relying on well-established English law principles and found that an obligation to use reasonable endeavours in the context of a force majeure clause would not require a party who wishes to rely on the clause to accept the other party’s offer of non-contractual performance.FactsCMS...

  Read more
•  

  24/04/2024

  Bulgaria

  Bulgaria considers introducing Contracts for Difference

  Currently, Bulgaria is among a small number of EU member states that lacks the concept of contracts for difference (CfD). So far, the country had a feed in tariff as a mechanism to subsidise renewable energy producers who meet legislative requirements. Given that feed in tariffs are an outdated tool, contracts for guarantees were introduced.  Having in mind, the current realities of the renewable energy market, including anticipated offshore renewable energy projects, Bulgarian lawmakers came to the conclusion that the country needs CfDs to:Secure the viability of a project;Monitor the...

  Read more
•  

  12/04/2024

  United Kingdom

  NSTA releases much needed guidance on measurement of carbon dioxide and the content of Carbon Storage Permit Applications

  The North Sea Transition Authority (“NSTA”) is responsible for offshore carbon storage licensing and permitting in relation to the UK Continental Shelf (UKCS). Following the successful initial carbon storage licensing round in 2022, there are now over 21 offshore carbon storage licences in the UKCS. Only a limited number of these relate to the Track 1 and Track 2 CCS cluster projects which are expected to be now working towards key investment decisions. There remains significant uncertainty surrounding what the NSTA expects to receive from carbon storage licensees (including the Track...

  Read more
•  

  12/04/2024

  International

  Oil & Gas: English court restrains foreign JOA proceedings in breach of arbitration provision

  In The Shell Petroleum Development Company of Nigeria Limited v Sunlink Energies and Resources Limited [2023] EWHC 3135 (Comm), the English Commercial Court demonstrated its willingness to ensure that a joint operating agreement’s arbitration provisions were preserved, and backed by real action by the court for a party seeking to circumvent them.BackgroundThe claimant, Shell Petroleum Development Company of Nigeria Limited (“SPDC”), and the defendant, Sunlink Energies and Resources Limited (“Sunlink”), were parties to a 2005 Joint Operating Agreement (the “JOA”)...

  Read more