Regulatory
News
December 29, 2022
The oil and gas industry warns that the Energy Price Levy, which slaps a 35% rate on profits from North Sea producers, risks drying up investment in a sector that’s key to the country’s energy security even as it transitions away from fossil fuels to achieve climate goals.
News
December 29, 2022
World Oil was on the front lines of every breaking news story in 2022. From positive production predictions and interventions from the White House to billion-dollar profit exploration setbacks, our readers had plenty to keep them on their toes. Read more of this year's top headlines here.
News
December 28, 2022
Not all countries use licensing rounds; some use direct negotiation to approve exploration and production rights. It’s time for more African oil and gas-producing states to choose this route.
News
December 28, 2022
Genel Energy owns oil blocks in Somaliland. However, the region isn’t recognized as a sovereign state by any other nation. Any investors seeking to operate in Somalia must comply with the nation’s constitution.
News
December 27, 2022
The Biden administration's goal to power 10 million homes by 2030 with offshore wind looks to be at risk as developers face challenges including inflation, supply chain woes and rising interest rates.
News
December 20, 2022
ConocoPhillips had originally proposed drilling across five pads at the site in the northeast corner of the National Petroleum Reserve-Alaska. However, the Interior Department has advanced an alternative plan that would initially allow just three. Now some environmental activists are musing about an even smaller, two-site option.
News
December 19, 2022
In her new role, Granger will lead strategy for state legislative and regulatory policy in the Midwest region as well as provide continued strategic oversight to API’s Colorado operations.
News
December 16, 2022
The Railroad Commission of Texas assessed $982,378 in fines involving 352 enforcement dockets against operators and businesses at the Commissioners’ Conference on Dec. 13.
News
December 15, 2022
The DOE announced $3.7 billion of funding to back projects that remove carbon dioxide from the atmosphere. The programs now open the door to the use of taxpayer dollars to fund carbon capture projects that produce fossil fuels through a process known as enhanced oil recovery. It’s a significant shift that promises more funding options for crude production.
News
December 14, 2022
Energy Secretary Jennifer Granholm extended an olive branch to the oil and gas industry, telling executives at a meeting in Washington that she recognizes fossil fuels will be around for a long time.
News
December 13, 2022
Sarawak Shell Berhad, a subsidiary of Shell Plc, has agreed to sell its stake in two offshore production-sharing contracts in the Baram Delta to Petroleum Sarawak Exploration & Production.
News
December 09, 2022
The Biden administration is poised to ban federal buildings from using fossil fuels, adding the government’s heft to a growing electrification movement that has natural gas distributors on the defensive.
News
December 09, 2022
Russia may cut its oil production in response to the G-7 cap on the price of its crude, President Vladimir Putin said. A decision on Moscow’s response will be announced in a presidential decree within the next several days
News
December 09, 2022
Through The Environmental Partnership, the American Petroleum Insitute has led the charge in reducing methane emissions by nearly 60% across the U.S.
News
December 08, 2022
Earlier this year, UK Chancellor Hunt increased a windfall tax on profits for the sector to 35%, from 25%, and extended it to 2028 to help subsidize energy bills that have soared on natural gas prices.
News
December 07, 2022
A bid by Democratic leaders to add a plan by Senator Joe Manchin to fast-track energy projects to a must-pass defense bill failed amid a revolt by progressive Democrats and pushback from Republicans.
News
December 02, 2022
EQT Corp. said the U.S. antitrust regulator asked for additional information and documentary materials in connection with a $5.2 billion acquisition announced in September, a move that raises questions on the largest U.S. natural gas producer’s ability to keep its acquisition spree.
News
November 14, 2022
Germany moved to nationalize a second major gas company in two months as Berlin seeks to secure supplies for the winter and contain the financial shock from Russia’s squeeze on European energy.
News
November 13, 2022
Within days of cruising to a re-election victory over a Democrat challenger, Texas Railroad Commission Chairman Wayne Christian took sharp aim at President Joe Biden's "anti-fossil fuels" agenda, saying his energy strategy is to ship U.S. energy production overseas.
News
November 13, 2022
UK Chancellor Jeremy Hunt is expected to delay much of the £55 billion ($65 billion) of savings to fill the hole in the public finances until after the next election, including an increase in the oil and gas windfall tax.
News
November 13, 2022
Oil and gas investments could be driven out of UK waters if Chancellor Jeremy Hunt carries out threats to raise the windfall tax to 35%, Offshore Energies UK (OEUK) has warned.
