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Roll on the throttle: The role of government policies in Australia's race to net zero
As we discussed in our recent article, 2024 was expected to be a make or break year for the global hydrogen industry.
Global | Publication | August 2023
On August 24, 2023, the National Hydrocarbons Commission (CNH) published Agreement CNH.30.06/2023, whereby it issued the Abandonment, Decommissioning and Relinquishment Guidelines (the Guidelines). These Guidelines are mandatory and came into effect on the business day following their publication.
The purpose of the Guidelines is to regulate the procedures and responsibilities that petroleum operators must follow in relation to the abandonment, decommissioning and disposal of materials associated with exploration and hydrocarbon extraction activities, as well as to the relinquishment and delivery of contractual and asignación areas.
Among other things, these Guidelines regulate:
It is important to highlight that contractors who do not yet have an abandonment trust have a period of 90 calendar days from the date of entry into force of the Guidelines to submit their proposals to the CNH. In addition, those who have already entered into abandonment trust agreements under terms different from those established in the Guidelines can submit new contracts or modifications that align with the new Guidelines.
In the case of contractors who, at the date of entry into force of the Guidelines, fall under the conditions for relinquishment as per the corresponding exploration and extraction contract, they must notify the CNH within a maximum period of ten business days from the entry into force of the Guidelines.
For more information regarding the content of the Guidelines and the obligations set forth thereunder, please contact César Fernández and José Luis Romo Trujano.
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As we discussed in our recent article, 2024 was expected to be a make or break year for the global hydrogen industry.
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As you begin planning for the upcoming financial year, it is likely that legal operations projects are on your radar. However, securing the necessary budget can be challenging. Our roundtable on October 1, ‘Preparing for FY2025 - Building a compelling business case’, will help you create compelling business cases for your legal initiatives.
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This briefing is an updated version of our briefing first published in December 2017 and sets out some practical pointers for employers who wish to make changes to a pension scheme which may fall within the statutory definition of a “listed change”.
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