In this edition of Mayer Brown’s Global Energy Industry Review, we look at the Brazilian use of the phrase “local content,” which has begun to appear more frequently in the laws, internal policies and tender protocols of governments and companies around the world, particularly with regards to the oil & gas industry. We also explore how the local content requirement is affecting research and development in Brazil’s oil & gas industry.
With the suspension of sanctions barring investment in Myanmar, we thought it a good time to take a look at the new Foreign Investment Law. We have reviewed an unofficial translation of the law signed by President Thein Sein on November 2, 2012, and provide a summary of key provisions.
Turning next to the United Kingdom, we examine their new tax incentives designed to support the interest of exploiting their Shale Gas reserves.
Finally, we look at the recently passed American Taxpayer Relief Act of 2012 which not only addressed issues regarding the so-called “fiscal cliff” but also contains several “tax extender” provisions that could significantly impact the development and financing of wind and other renewable energy projects in the United States in 2013 and beyond.
This edition of the Global Energy Industry Review showcases current energy-related trends around the world. We regularly publish legal updates on timely industry issues. Please visit our Energy News and Publication page to view a complete list of our energy updates.