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Gold for oil policy at risk of illicit financial flows – ISSER

Reporting Oil and Gas

The Institute of Statistical Social and Economic Research (ISSER) warns that the government’s ‘Gold for Oil’ policy, designed to tackle the foreign exchange demands of oil importers, is susceptible to Illicit Financial Flows (IFF). trillion lost to money laundering. trillion lost to money laundering.

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Petrel Resources Raises £250,000 for Iraq Oil Projects

Iraq Business News: Oil & Gas

According to a statement from the company, the funds will provide additional working capital, supporting Petrel's efforts to secure new oil and gas projects in Iraq and beyond. Petrel has recently submitted an application to assume an existing contract east of Baghdad 4 th Bid round award in 2012, at a remuneration per barrel of $5.38.

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Environmental Groups File Suit to Compel EPA to Review and Revise Oil and Gas Waste Regulations

The Energy Law

Environmental Protection Agency (EPA), seeking to compel EPA to “fulfill long-delayed nondiscretionary duties” under the Resource Conservation and Recovery Act (RCRA) by issuing revised regulations governing oil and gas wastes. The oil and gas industry will need to monitor this suit. McCarthy , Case No.

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The Fifth Circuit Rejects the DOJ’s Attempt to Charge Black Elk Contractors with OCSLA Felonies

The Energy Law

The district court agreed and dismissed those charges, after which the government appealed. Earlier this week, the Fifth Circuit ruled against the government finding that contractors cannot criminally violate these OCSLA regulations. The government appealed. United States v. Moss, et al , No. 16-30561 (5th Cir. 27, 2017).

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Fracking Scores with Two Colorado Supreme Court Opinions

The Energy Law

The residents of Longmont, Colorado voted in 2012 to add Article XVI to the City’s home-rule charter. The Colorado Oil and Gas Association sought a declaratory judgment invalidating and permanently enjoining the enforcement of the Article. Colorado Oil and Gas Association , 2016 CO 29, P. Oil and Gas Ass’n , 16 CO 28 (Colo.

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EPA and BSEE Team Up to Resolve Offshore Environmental Violations

The Energy Law

Recently, when there was talk about Houston-based ATP Oil and Gas’ (ATP) legal problems, it was inevitably about its bankruptcy and its effort to bring the overriding royalty interests it had conveyed back into the bankrupt estate as debt instruments.

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Fifth Circuit Rejects EPA’s Overreaching on CAA and MBTA

The Energy Law

The water phase (with residual oil) is separated and sent to two equalization tanks, followed by flotation and biological treatment. The district court found Citgo guilty of two counts of knowingly operating two tanks as oil-water separators without CAA emission controls, and three counts of “taking” migratory birds in violation of the MBTA.