Regulatory – Oil & Gas 360

Oil prices retreat on weak U.S. data, despite Trump tariff block

May 29, 2025

(Investing) – Oil prices retreated Thursday, handing back earlier gains after data showed the U.S. economy contracted in the first quarter, suggesting the Trump administration’s volatile trade policies were weighing on economic activity. At 09:15 ET (13:15 GMT), Brent oil futures for July fell 0.7% to $63.89 a barrel, and West Texas Intermediate crude futures dropped 0.6% to $61.47 a barrel. Oil was sitting on

Trump will allow Chevron to keep Venezuelan assets

May 28, 2025

(Oil Price) – The Trump administration will grant Chevron the right to keep its operations in Venezuela after its sanction waiver expires in June, Reuters and the Wall Street Journal reported separately, citing unnamed sources. According to the sources, Chevron would be able to retain its assets in Venezuela, but would not be able to export oil from the country to the United States.

House’s passing of Trump’s “One Big Beautiful Bill Act” is a win for U.S. energy, agencies say

May 22, 2025

(World Oil) – Leaders from the National Ocean Industries Association (NOIA), American Petroleum Institute (API) and the Independent Petroleum Association of America (IPAA), issued statements today in support of the U.S. House of Representatives’ passage of the 2025 tax reconciliation bill. “House passage of this legislation is a significant milestone in advancing American energy dominance,” said NOIA President Erik Milito. “Many of

Supply crunch could send California’s gas prices past $8

May 14, 2025

(Oil Price) – On the heels of my recent article outlining how California’s unique fuel regulations — not corporate price gouging — are driving up gasoline prices in the state, new developments have added urgency to that conversation. On May 6, California Senate Minority Leader Brian W. Jones (R-San Diego) sent a letter to Governor Gavin Newsom sounding the alarm over what could become an

Republican lawmakers face clean-energy conundrum as they work on tax bill

April 21, 2025

(Investing) – WASHINGTON – Republican lawmakers working to extend U.S. President Donald Trump’s tax cuts legislation are facing a clean-energy conundrum back home, as major clean energy investments in their districts are at odds with Trump’s skepticism of the industry. Eleven of the 26 Republicans on the House of Representatives’ tax-writing Ways & Means committee, who are now crafting the

EU explores tweaking methane rules for US gas to help trade talks, sources say

April 21, 2025

(BOE Report) – The European Union is looking at ways to make it easier for U.S. gas exports to comply with its methane emissions rules, as the bloc attempts to avert a trade war with U.S. President Donald Trump, three sources familiar with the matter told Reuters. The European Commission is working on its offer for trade negotiations with the

US will no longer require green analyses on Western states’ oil, gas leases

April 10, 2025

(Investing) – WASHINGTON -The Trump administration said on Thursday that it will no longer require environmental impact statements for oil and gas leases across the U.S. West, in a step toward lifting green hurdles to drilling that environmental groups will likely challenge in court. The Interior Department said in a release that it will no longer require its Bureau of Land

Oil advocate withdraws nomination to lead US land bureau

April 10, 2025

(Investing) – Oil industry lobbyist Kathleen Sgamma has withdrawn herself from consideration to lead the U.S. Bureau of Land Management, U.S. Senator Mike Lee said on Thursday at a Senate hearing that was meant to discuss her nomination. Sgamma had been scheduled to appear before the Senate Committee on Energy and Natural Resources, and Lee, a Republican from Utah, made the

China hits back at US tariffs with rare earth export controls

April 4, 2025

(Investing) – BEIJING/LONDON -China placed export restrictions on key rare earth elements on Friday as part of its sweeping response to President Donald Trump’s tariffs, potentially squeezing supply to the U.S. and the West of minerals vital to everything from defense to electric cars. China produces around 90% of the world’s refined rare earths, a group of 17 elements used across

State oil firm PDVSA to take over Chevron operations in Venezuela

March 18, 2025

(Oil Price) – PDVSA, the state oil firm of Venezuela, will continue to produce alone crude from its joint ventures with Chevron after the Trump Administration axed the U.S. supermajor’s license to operate in the South American country, Reuters reports, citing a PDVSA document it has seen. At the end of February, U.S. President Donald Trump canceled a sanction waiver for Chevron that allowed

Trump signs executive order to unleash American energy

January 21, 2025

(Oil Price) – U.S. President Donald Trump signed on his first day in office an executive order to unleash America’s energy by easing the barriers to oil and gas extraction and production and revoking a series of climate orders by President Biden. As pledged in the campaign and widely expected to take place on President Trump’s first day in office, the executive order

Analysis-Trump’s Paris climate exit will hit harder than in 2017

January 21, 2025

(Investing) – BRUSSELS/LONDON – A second U.S. withdrawal from the world’s primary climate pact will have a bigger impact – in the U.S. and globally – than the country’s first retreat in 2017, analysts and diplomats told Reuters. One of President Donald Trump’s first acts on returning to office on Monday was to quit the Paris Agreement as part of his

Premium Content