Beverly Rudy is a partner in the Energy & Environmental Group at Sutherland, a member of the firm’s Executive Committee and co-head of the Energy Trading Team. She has more than 30 years of experience advising oil trading companies and focuses her practice on commercial, international trade, regulatory and transaction tax matters that affect the global trading of oil, petrochemicals and other energy commodities.
Beverly has been involved in all manners of commercial agreements and structured transactions, including crude oil processing and products off-take agreements, crude oil forward sale agreements, inventory financing and consignment arrangements, terminaling and throughput agreements, and marketing and distribution contracts. She assists trading companies with a myriad of regulatory, commercial and credit issues arising from the purchase, sale, storage, exchange, financing, marine transportation and processing of oil commodities. She also advises clients on the commercial aspects of purchasing oil-related assets and businesses.
Her extensive experience on trade issues includes the foreign assets control programs applicable to U.S. persons, extraterritorial sanctions laws, anti-boycott laws, anti-bribery statutes, short supply controls and other export restrictions. Beverly counsels firms regarding transactions and investments involving the governments, nationals and products of countries subject to trade sanctions and helps them obtain licenses from the U.S. Department of the Treasury to enter into transactions otherwise prohibited or with respect to blocked property.
Beverly’s tax practice covers federal taxes and fees due on importation of liquid commodities, state motor fuel, sales and use, gross receipts and oil spill taxes, as well as franchise, corporate and transaction taxes imposed on natural gas and power trading transactions.
REPRESENTATIVE EXPERIENCE
Beverly’s recent representative experience includes:
- Representing a Wall Street trading firm in drafting and negotiating a product off-take arrangement with PBF.
- Negotiating long-term crude oil inventory financing and supply agreements for commodities trading operations of several major financial institutions.
- Serving as counsel to refined products suppliers in long-term supply arrangements in the United States, Europe and Singapore.
- Acting as counsel to suppliers of refined products pipeline line fill.
- Serving as counsel to crude oil suppliers in structuring processing agreements with several domestic and international independent refiners.
- Acting as counsel to trading companies in connection with crude oil inventory purchase and sale agreements with several U.S. refiners.
- Serving as counsel to trading companies relating to inventory repurchase and financing agreements with crude oil gatherers and marketers.
- Acting as counsel to fuel suppliers in establishing joint residual fuel marketing and supply agreements with generating companies.
- Serving as counsel to Wall Street trading firms in long-term crude oil forward sale and marketing agreements with major crude producers in Argentina and Egypt.
- Representing a jet fuel supplier in long-term supply agreements with major international and domestic air carriers.
- Assisting energy traders in commercial documentation such as the International Swaps and Derivatives Association (ISDA) Oil Annex, Leadership for Energy Automated Processing (LEAP) Master, physical master purchase and sale agreements, general terms and conditions, marine provisions, netting agreements, collateral agreements and guarantees.
- Advising energy trading firms with respect to consulting agreements for crude oil and refined products supplies.
- Negotiating and documenting oil purchase and sale contracts in domestic, Northwest Europe, Middle East and Singapore markets.
- Serving as U.S. counsel to offshore energy trading companies on regulatory, customs and tax matters.
- Representing a non-U.S. company in enforcement proceedings involving Iraqi crude oil.
- Counseling trading companies and non-energy companies on sanctions prohibitions, Iran Sanctions Act, anti-boycott laws and Foreign Corrupt Practices Act with respect to potential projects and investments.
PROFESSIONAL AND COMMUNITY INVOLVEMENT
- Member, Taxation Section, American Bar Association
- Member, Environment, Energy, and Resources Section, American Bar Association
- Member, European American Business Council
- Member, Gulf 2000
- Member, International Energy Credit Association
© 2012 Sutherland Asbill & Brennan LLP