Last month, the UK Sustainable Investment and Finance Association published its second annual «Not Long Now» survey, stating that «The fund management sector is clear that
international oil companies will be negatively revalued within a few years because of climate change
related risks.»
These incidents, argues Gustavo Ampugnani, lead energy and climate campaigner for Greenpeace Mexico, foreshadow worsening
oil - and gas -
related disasters as the country's massive energy reforms open Mexico's vast fossil fuel reserves up to
international companies that are even less regulated and scrutinized than State - owned Pemex.
Hesse has advised African states and
oil, gas and energy
companies on dispute resolution
relating to upstream activities,
international tenders, refinery projects, farm - out agreements, and the resolution of conflicts in other contracts in the petroleum and petrochemical industries.
representing an
international oil company in an AAA / ICDR commercial arbitration (New York seat)
relating to rights and remedies pursuant to an agreement governed by New York law to share costs and monetary awards of investment arbitration against a South American state (claim US$ 500 million)
The practice's recent representations include: (i) CONMEBOL in connection with U.S. criminal investigations and prosecutions into allegations of bribery and corruption in the
international soccer world; (ii) the Special Committee of Banco BTG Pactual S.A. («BTG Pactual») in an internal investigation of alleged corruption involving its former CEO and other bank executives, in which we found no basis to support the allegations against the Bank and its employees; (iii) two of the largest construction
companies in Brazil in potential civil and criminal investigations and litigation involving the Petrobras bribery scandal (Lava Jato), the largest corruption scandal in Latin American history, involving allegations of over $ 2.5 billion in bribes and kickbacks; (iv) the Government of Brazil in a corruption matter involving former senior government officials and multiple jurisdictions; (v) the General Manager of one of the largest energy
companies in Central America in connection with allegations of bribery in Guatemala; (vi) a Mexican high - ranking executive for Wal - Mart Stores, Inc. in connection with DOJ and SEC FCPA investigations against Wal - Mart; (vii) a large Argentinean
oil company and its owner, one of Argentina's wealthiest individuals, in connection with high - profile DOJ and SEC investigations involving alleged FCPA violations to secure an extension of
oil rights in an Argentinean oilfield; (viii) the United State's largest chemical and industrial products
companies in an internal investigation of alleged corruption involving its Mexican subsidiary; (ix) the Rosenthal family, one of the most prominent families in Central America, in a number of
related criminal matters; and (x) a senior executive of one of Venezuela's largest engineering
companies in DOJ investigations into corruption and money laundering involving PdVSA.