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Anatomy of a Nigerian Oil Scandal: Audit of National Oil Company Fuels Momentum for Sectoral Reform

After months of speculation and mounting pressure, it’s finally here: the government of Nigeria has released the long-awaited PricewaterhouseCoopers (PwC) forensic audit of the Nigerian National Petroleum Corporation (NNPC), the country’s national oil company. It’s not often that the release of a highly technical accounting report makes the headlines—much less grabs the attention of millions—but … Continue Reading

A Consequence of Falling Oil Prices

Oil prices have plunged in the last few months.  For example, Brent futures traded at over $110 per barrel in June, and fell below $85 last week.  This is a fall of over 20%, and the market price for crude oil is now at its lowest level since 2010. Oil prices impact activities in the … Continue Reading

UK Parliament Announces Tighter Planning Guidance for Onshore Oil and Gas Applications

In the first blog of this two-part series, we considered the potential impact of the 14th Round on the commercialisation of the shale gas in the UK in light of recent developments in this industry. This second blog post focusses on the additional planning guidance for licence applications in National Parks, Areas of Outstanding Natural … Continue Reading

Commerce Department Clarifies Requirements for Exporting Condensate Oil

In a determination rendered last week, the Commerce Department provided guidance to two companies on the application of export controls to processed  condensate  that could mark a potential thaw in the long-standing ban on exports of crude oil. Condensate is an ultra-light oil that has seen increasing domestic development alongside the recent boom in shale … Continue Reading

Law360 Names Covington “Energy Practice Group of the Year”

Here at Inside Energy & Environment we are honored to share that Law360 has named Covington’s energy practice as a 2013 “Energy Practice Group of the Year.”  In giving this award, Law360 recognized the breadth of Covington’s practice capabilities (including litigation, transactions, regulatory and government policy) in both the traditional energy and clean energy sectors, … Continue Reading
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