Regulatory – Page 4 – Oil & Gas 360

Oil and gas trade groups sue BLM over “deficient” final leasing rule

May 20, 2024

World Oil (WO) – The Western Energy Alliance, the Independent Petroleum Association of New Mexico, New Mexico Oil and Gas Association, North Dakota Petroleum Council, Petroleum Association of Wyoming, and Utah Petroleum Association filed a lawsuit challenging the Bureau of Land Management’s (BLM) Fluid Mineral Leases and Leasing Process rule in the U.S. District Court for the District of Wyoming.

Oil and gas trade group raises “serious concerns” about Biden’s revised greenhouse gas reporting rule

May 7, 2024

World Oil (WO) – In October 2023, the American Petroleum Institute (API) urged the Biden administration to revise the proposed Subpart W greenhouse gas (GHG) reporting rule so that it reflects the progress the oil and gas industry has made to reduce emissions, increases reporting transparency and accuracy, and incentivizes empirical data innovations and cost-effective methane detection technologies. Today, API

US restricts drilling and mining in Alaska wilderness, angering state leaders

April 19, 2024

US News The Biden administration on Friday took steps to limit both oil and gas drilling and mining in Alaska, angering state officials who said the restrictions will cost jobs and make the U.S. reliant on foreign resources, but pleasing environmentalists. The measures are aligned with President Joe Biden’s efforts to rein in oil and gas activities on public lands

Offshore oil and gas industry to foot $6.9 billion decommissioning costs under new BOEM regulation

April 17, 2024

World Oil (WO) — On Monday, April 15th, the Department of the Interior announced a final rule from the Bureau of Ocean Energy Management (BOEM) that requires the oil and gas industry to raise nearly $7 billion for decommissioning offshore platforms. The final Risk Management and Financial Assurance for OCS Lease and Grant Obligations rule amends existing regulations by substantially

Continental Resources founder Harold Hamm appointed to IPAA Board of Directors

April 16, 2024

World Oil (WO) – Last week, the Independent Petroleum Association of America (IPAA) – advocating for thousands of oil and natural gas producers that develop 90% of wells nationwide- held its spring Board of Directors meeting in Washington, D.C. and announced the following board appointments. Harold Hamm, Founder and Executive Chairman of Continental Resources was named an At-Large Director. Current

Biden administration plans “sweeping” effort to block oil and gas exploration in Alaska

April 12, 2024

Yahoo Finance (Bloomberg) – The U.S. set aside 23 million acres of Alaska’s North Slope to serve as an emergency oil supply a century ago. Now, President Joe Biden is moving to block oil and gas development across roughly half of it. The initiative, set to be finalized within days, marks one of the most sweeping efforts yet by Biden

The Fed blocks stricter global ESG rules for banks

April 3, 2024

Oil Price The US Federal Reserve has blocked an attempt led by the European Central Bank (ECB) to make climate risks a pillar of global rules for banks and require them to report their strategies on meeting climate commitments, sources with knowledge of the matter have told Bloomberg. Some members of the Basel Committee on Banking Supervision (BCBS), which includes central

20 U.S. oil and gas trade groups unite against Biden’s “misguided” methane fee

March 27, 2024

World Oil (WO) – The American Petroleum Institute (API) joined with 19 associations representing all segments of the U.S. oil and gas industry operating across the country in calling on the U.S. Environmental Protection Agency (EPA) to revise its misguided methane fee on American energy. In comments submitted to the agency on the “waste emissions charge” proposed rulemaking, the associations

Court upholds 2022 offshore oil and gas lease sales following Biden’s “unlawful” leasing ban

March 25, 2024

World Oil (WO) – Western Energy Alliance won a significant victory in court last Friday as the U.S. District Court for the District of Columbia upheld the first offshore oil and gas lease sales of the Biden administration, held in June 2022. Judge Christopher Copper ruled in favor of the Bureau of Land Management’s (BLM) greenhouse gas (GHG) analysis that

Texas regulator applauds state Board of Education for cancelling $8.5 billion contract BlackRock

March 20, 2024

World Oil (WO) – Following news that the Texas State Board of Education (SBOE) and Chairman Aaron Kinsey would terminate an $8.5 billion contract with BlackRock, Texas Railroad Commissioner Wayne Christian applauded the SBOE’s decision, which protects Texas’ Permanent School Fund and classrooms across the state, and said the following: “Texas state leadership continues to land blows to BlackRock and

Liberty Energy Inc. comments on stay of SEC climate rule and need for affordable, reliable energy to better human lives

March 20, 2024

Oil and Gas 360 Publisher’s Note: Liberty Energy Chief Executive Officer Chris Wright will be a keynote speaker at EnerCom Denver-The Energy Investment Conference on August 18-21, 2024. March 20, 2024 DENVER–(BUSINESS WIRE)– Liberty Energy Inc. (NYSE: LBRT; “Liberty” or the “Company”) provided comments today on the decision by the United States Court of Appeals for the 5th Circuit granting an

Oil falls from highs ahead of Fed decision

March 20, 2024

CNBC Oil prices fell on Wednesday after hitting multi-month highs in the previous session, as investors braced for the U.S. Federal Reserve’s interest rate policy announcement later in the day. Brent crude futures for May were down $1.20 or 1.4% at $86.18 a barrel by 1425 GMT. U.S. West Texas Intermediate futures for April delivery , which expire on Wednesday’s

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