Regulatory

Texas challenges Biden’s methane rule that is “detrimental” to U.S. oil and gas industry

Texas challenges Biden’s methane rule that is “detrimental” to U.S. oil and gas industry

World Oil


(WO) – The Environmental Protection Agency (EPA) published the Methane Rule in the Federal Register on Friday, March 8. Texas is challenging this rule, which is detrimental to the oil and gas industry, which is not only vital …

Source: Oil Price

Biden’s pause on new LNG export permits could last for months

Oil Price


The U.S. Administration’s pause on approvals of new LNG export projects could last for several months until the U.S. Department of Energy reviews the grounds for authorizations, a DOE official told Bloomberg in an interview on Friday.

At …

Source: Reuters

Russia oil fleet shifts away from Liberia, Marshall Island flags amid US sanctions crackdown

Yahoo Finance


LONDON/WASHINGTON-Dozens of oil tankers used by Russia have stopped sailing under the Liberian and Marshall Islands flags in recent weeks after the United States ramped up sanctions enforcement on ships linked to those registries, according to shipping data …

Source: Reuters

Biden’s scaled-back power rule raises doubts over US climate target

Nasdaq


The Biden administration’s decision to exclude the existing U.S. fleet of natural gas power plants from upcoming carbon emissions regulations raises questions over the nation’s ability to meet its climate goals, according to researchers.

Cleaning up the U.S. power …

Energy trader Gunvor to pay over $660 million to settle US bribery case

Energy trader Gunvor to pay over $660 million to settle US bribery case

Investing


NEW YORK – Gunvor pleaded guilty on Friday to a felony charge of conspiring to violate a U.S. anti-bribery law and agreed to pay more than $660 million, marking the end of a long-running criminal probe into the big …

API: New poll shows “widespread” concern over Washington’s energy policy

API: New poll shows “widespread” concern over Washington’s energy policy

World Oil


(WO) – The American Petroleum Institute (API) released a new national poll conducted by Ipsos demonstrating widespread concern over Washington’s approach on energy policy.

Two out of three American voters say the country is on the wrong track …

Source: World Oil

Oil trade groups file petition against Biden administration over LNG ban

World Oil


(Bloomberg) – Top oil industry lobbying groups set the stage for a potential lawsuit challenging the Biden administration’s pause in approving new liquefied natural gas (LNG) exports.

In a petition filed Monday with the Energy Department, the American

February 27, 2024 - 1:30 pm Closing Bell Story‎, Crude Oil News, Energy News, LNG, Regulatory
Source: Reuters

Exclusive: Biden administration to approve E15 gasoline expansion starting in 2025, sources say

Nasdaq


The White House will approve a request from a group of Midwest governors to allow year-round sales of gasoline with higher blends of ethanol, but will push the start date into next year, two sources familiar with discussions said.…

Source: Reuters

US House to vote on bill to reverse Biden’s LNG pause

US News


WASHINGTON – The U.S. House was expected to vote on Thursday on a bill that attempts to strip the power of President Joe Biden’s administration to freeze approvals of liquefied natural gas exports.

If it passes the Republican-controlled

Source: World Oil

IPAA joins 25 oil and gas associations urging action on “unfair, unworkable, uneconomic” methane regulations

World Oil


(WO) – On Friday, the Independent Petroleum Association (IPAA) and 25 other state, regional and national oil and gas associations wrote to congressional leadership urging action on methane regulations that could have a detrimental impact on our nation’s …

Source: World Oil

Senator Joe Manchin vows to investigate Biden’s LNG export license plan

World Oil


(Bloomberg) – Senator Joe Manchin blasted the Biden administration’s move to halt the approval of new licenses to export U.S. liquefied natural gas (LNG) and vowed to use his power as the chairman of the Senate Energy and …

Source: Reuters

Biden pauses approval of LNG projects after pressure from climate activists

Nasdaq


WASHINGTON – President Joe Biden paused approvals for pending and future applications to export liquefied natural gas from new projects on Friday, a move cheered by climate activists that could delay decisions on new plants until after the Nov. …

January 26, 2024 - 11:30 am Closing Bell Story‎, Crude Oil News, Energy News, LNG, Regulatory
Source: Oil Price

New methane emission laws could transform U.S. energy sector

Oil Price


The U.S. Environmental Protection Agency (EPA) could introduce new emissions fees for the production of methane in oil and gas projects across the country if approved. This month, the EPA proposed a new rule to encourage clean energy …

IPAA: EPA’s “overbearing” methane regulations to harm U.S. oil, natural gas producers

IPAA: EPA’s “overbearing” methane regulations to harm U.S. oil, natural gas producers

World Oil


WASHINGTON – Independent Petroleum Association of America (IPAA) President and CEO Jeff Eshelman released a statement ahead of the House Energy and Commerce Committee hearing on Wednesday, Jan. 10 at 10:00 a.m. ET examining Environmental Protection Agency (EPA) …

EXCLUSIVE-Energy trader Gunvor raises U.S. DOJ fine provision to $650 mln – sources

EXCLUSIVE-Energy trader Gunvor raises U.S. DOJ fine provision to $650 mln – sources

Nasdaq


BRUSSELS – Global energy trader Gunvor Group has increased its provision for an expected fine from the U.S. Department of Justice (DOJ) to $650 million, while making just over $1 billion in the first nine months of the year, …

Source: Reuters

Texas regulator issued 639 drilling oil, gas drilling permits in November 2023

World Oil


AUSTIN – The Railroad Commission of Texas issued a total of 639 original drilling permits in November 2023. The total includes 588 to drill new oil or gas wells, five to re-enter plugged wellbores and 37 for re-completions …

Source: World Oil

Texas commissioner slams Biden’s “onerous” methane rules that increase oil, gas prices

World Oil


AUSTIN – Railroad Commissioner Wayne Christian issued a statement regarding new onerous methane rules proposed by the Biden administration’s Environmental Protection Agency (EPA).

 

“While costs for hard-working Americans are up nearly $11,000 this year everywhere from the …

Source: World Oil

Biden administration’s new methane rule to hamper U.S. oil, gas production, trade associations warn

World Oil


(WO) – On Saturday, Dec. 2, the Biden administration unveiled a new methane emissions rule at COP28 aimed at “sharply reducing methane and other pollutants from the oil and natural gas industry” by “promoting the use of cutting-edge …

Source: Reuters

US kicks off a spate of oil and gas auctions just as COP28 gets underway

Nasdaq


The Biden administration on Tuesday will auction off 35,000 acres (14,164 hectares) of land in Wyoming to oil and gas drillers, the first in a series of such sales that will coincide with a United Nations’ conference aimed at …

Source: Reuters

A less hawkish fed could jumpstart the oil price rally

Oil Price


In recent times, fears of a spillover in the conflict between Israel and Hamas, which could embroil Iran and its allies in the region, have offered considerable support to oil prices. Unfortunately for the bulls, the oil price …

Source: Reuters

Energy Workforce & Technology Council: Interior’s abuse of Endangered Species Act will curtail U.S. energy production

World Oil


(WO) – The Energy Workforce and Technology Council issued a statement applauding the passage of H.R. 4821, the Department of the Interior, Environment, and Related Agencies Appropriations Act for Fiscal Year 2024. This bill passed in a bipartisan …

Source: World Oil

API: EPA’s proposed NAAQS revisions “jeopardize” American jobs, risk “substantial” economic harm

World Oil


(WO) — The American Petroleum Institute (API) joined with over 70 other trade groups representing diverse businesses across the economy in urging the Biden administration to maintain the existing National Ambient Air Quality Standards (NAAQS) for fine particulate …

November 2, 2023 - 3:30 pm Closing Bell Story‎, Crude Oil News, Economy, Jobs, People, Regulatory
Source: Reuters

US Senator Schumer, other senators urge FTC to probe Exxon, Chevron mega-deals

Nasdaq


Rewrites throughout to add discussion of higher prices, adds quote and other signatories in paragraphs 3-4, Exxon comment in paragraphs 8-9.  U.S. Senate Majority Leader Charles Schumer and 22 other Democratic senators wrote to the U.S. Federal Trade Commission …

Source: World Oil

Biden’s Alaskan oil plan is “major threat” to future drilling, ConocoPhillips executive warns

World Oil


(Bloomberg) – A century after the U.S. set aside a broad swath of northwest Alaska to be used as an emergency oil supply, the Biden administration is pursuing changes that could make it impossible to harvest crude from …

Source: World Oil

Machin calls for Gulf of Mexico oil drilling auction after court ruling

World Oil


(Bloomberg) – Senator Joe Manchin called on the Biden administration to swiftly auction drilling rights in the Gulf of Mexico, following a federal appeals court ruling Thursday that casts doubt on the future of that oil lease sale.…

Source: World Oil

Texas regulator assess over $2 million in penalties against oil, gas operators

World Oil


AUSTIN – The Railroad Commission of Texas assessed $2,425,495.50 in fines involving 597 enforcement dockets against operators and businesses at the Commissioners’ Conference on Tuesday. The Commission has primary oversight and enforcement of the state’s oil and gas …

Source: Reuters

Venezuela pursuing former oil clients after US sanctions lift

Nasdaq


HOUSTON – Venezuelan state-run oil company PDVSA has begun contacting customers with crude supply contracts amid the temporary lifting of U.S. sanctions, two people familiar to the matter said on Thursday, moving to resume cash sales to global refiners.…

Source: Reuters

Oil falls below $90 a barrel on report of US-Venezuela deal

Investing


HOUSTON  -Oil futures fell on Monday on a report the U.S. and Venezuela could soon reach a deal to ease sanctions on Venezuela if a presidential election date is set, while traders see the Israel-Hamas conflict not affecting crude …

Source: World Oil

Texas regulator to overhaul oil field waste management, water protection rules for first time in four decades

World Oil


AUSTIN- For the first time in nearly 40 years, the Railroad Commission’s Statewide Rule 8 will undergo a substantial overhaul to better reflect modern waste management practices and recent advancements in oil and natural gas production methods.

One …

Source: Reuters

Oil industry groups urge Biden administration to revise greenhouse gas reporting rule

World Oil


(WO) – The American Petroleum Institute urged the Biden administration to revise the proposed Subpart W greenhouse gas (GHG) reporting rule so that it reflects the progress industry has made to reduce emissions, increases transparency and accuracy of …