The transfer of ownership and operation of essential public assets and services from the public to the private sector is internationally recognized as a way for governments to raise capital and harness private finance, innovation and efficiency. Developed economies are now looking to privatization to deliver debt and deficit reduction. In the new resource-rich economies, privatization often occurs as the economy matures and diversifies, and is an instrument that can stimulate and expand private sector involvement. Developing economies use privatization to unlock private capital, often with the support of multilateral agencies, avoiding use of the government balance sheet.
Privatization raises fundamental economic, political and social issues, mainly involving questions of the appropriate market structure for an evolving privatized industry and how to regulate the industry to protect the public interest. Public interest regulation seeks to balance investors' interests with those of the public's demand for service quality and continuity, affordability, stability of tariffs and control of monopolies.
Governments wanting to unlock these benefits and secure regulatory factors need lawyers who really understand and can help design markets, write laws in common law and codified legal systems, and develop regulatory systems that work in different cultural, business and legal environments. Governments need lawyers who know how regulation should work. Investors in new privatizations need lawyers who can rapidly and sure-footedly navigate new market structures and uncover risks and opportunities. Whatever your role in energy privatization, you need Dentons.
We have advised over 50 governments and hundreds of investors and lenders on market design and privatizations in the most sophisticated and emerging economies across the globe. Dentons' lawyers have privatized or advised first-buyers of businesses and assets in industries as diverse as energy, transport, infrastructure, health care, telecommunications, water and other utilities. We bring a confident assurance of how to design privatization programs and markets; we get deals done and secure the public interest. Investors can rely on our deft understanding of government objectives and constraints. Our razor-sharp market and industry analysis delivers extra value.
Dentons, the world’s largest law firm, has strengthened its Energy practice with the promotion of Maksym Sysoiev to partner.
The global energy sector is undergoing a dramatic transformation. New technologies and new regulations in nearly every subsector are straining yesterday's business models. Foundational elements throughout the industry, including energy transfer and storage, have seen massive disruption. At the same time, price fluctuations, volatile consumer demand and cyber and physical security concerns continue to add to an unpredictable future.
The US Securities and Exchange Commission (the “SEC”) has re-proposed Rule 13q-1 and an amendment to Form SD to implement Section 13(q) of the US Securities Exchange Act of 1934 (the “Exchange Act”), which was added by Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the “Dodd-Frank Act”). The new rules would require "resource extraction issuers" to disclose annually payments that such companies (or their subsidiaries or entities under their control) make to a foreign government or the US federal government for the purpose of the commercial development of oil, natural gas or minerals. The SEC believes that these rules will increase the transparency of payments that resource extraction companies make to foreign governments and hold those governments accountable for their natural resource wealth. The rules would require companies to disclose the type and total amount of payments that they make to each government for each project.
From cyber threats to natural disasters, energy companies deal with a significant amount of risk each day. How each anticipates, plans for and mitigates those risks provides a window into a company's future success or failure.
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Maksym Sysoiev, a partner in Dentons’ Kyiv office, was elected as Co-Chair of the Chamber Energy Committee of the American Chamber of Commerce (ACC) in Ukraine for 2021. This is the second year in a row that he has been elected to this position.
Dentons announced today that it will open an office in Houston, underscoring the Firm’s commitment to serving energy clients in the US and worldwide. The Firm currently represents the world's most significant energy companies in all aspects of their business and in all major energy producing, refining, transport and utilization markets. The new office, Dentons’ 16th US location and 79th globally, builds on the recent combination of Fraser Milner Casgrain, Salans and SNR Denton, leveraging the Firm’s worldwide presence across the US, Canada, UK, Europe, Middle East, Central Asia and Africa to serve more than 400 existing clients in Houston.