This is Queen Street Analytics' weekly digest of regulatory developments, legislative discussions and other government-related news concerning oil and gas production, wells, drilling, petroleum and fuels refining, pipelines, LNG, hydrocarbons, and all Landman fans. Once a week, we break down the most important updates in this space in under five minutes.

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Dates: 2026-04-05 to 2026-04-11

📋 In This Week's Newsletter

• 🏛️ This Week's Congressional Calendar
• 🇺🇸 Federal Government News
• 📜 Legislative Updates
• 📚 What We're Reading This Week

This Week's Congressional Calendar

• House Energy and Commerce Subcommittee on Energy Hearing: The FY 2027 Department of Energy Budget: The House Energy and Commerce Subcommittee on Energy will hold a hearing titled “The Fiscal Year 2027 Department of Energy Budget” with Secretary Chris Wright as witness on April 16, 2026, at 2:00 pm (Rayburn 2123).
• House Appropriations Subcommittee on Energy and Water Development Budget Hearing: Department of Energy: The House Appropriations Subcommittee on Energy and Water Development will convene a hearing on the Department of Energy FY 2027 budget request with Secretary Chris Wright testifying, scheduled for April 15, 2026, at 2:00 pm (Rayburn 2359).

Federal Government News

EPA Finalizes Amendments to Oil and Gas Sector Climate Rules

The Environmental Protection Agency published a final rule amending its oil and gas sector New Source Performance Standards (NSPS) and Emissions Guidelines in response to industry petitions. The amendments extend the allowable temporary flaring of associated gas from 24 to 72 hours in certain circumstances, with additional provisions for 'exigent circumstances' and new recordkeeping rules. The rule revises requirements for net heating value (NHV) testing of flares and enclosed combustion devices—expanding NHV monitoring exemptions but increasing requirements where inert gases are present. The technical corrections reinstate certain reporting provisions inadvertently deleted by a 2025 rule. EPA estimates the rule will produce industry compliance cost savings of up to $2.5 billion over 2024–2038 in 2024 dollars. Affected parties include U.S. crude petroleum and natural gas extraction operators, processors, transporters, and storage providers.

Sources: www.federalregister.gov

CEQ Issues Updated Guidance on Categorical Exclusions under NEPA

The Council on Environmental Quality released new guidance regarding the use of categorical exclusions (CEs) for National Environmental Policy Act (NEPA) compliance. The document addresses how agencies establish, adjust, adopt, and use CEs for actions typically posing no significant environmental impact. The update reflects changes from the Fiscal Responsibility Act of 2023 and CEQ’s repeal of previous NEPA regulations. CEQ also launched new digital tools—the Categorical Exclusion Explorer database and the CE Works platform—to assist agencies in the CE process and manage permitting workloads more efficiently.

Sources: www.whitehouse.gov

DOE Seeks Three-Year Extension for Form FE-746R LNG Trade Reporting Requirement

The Department of Energy’s Energy Information Administration requested a three-year renewal from OMB for mandatory Form FE-746R. This reporting form collects monthly data from U.S. natural gas importers and exporters, including shipment origin, volume, price, and contract terms, supporting regulatory oversight and statistical analysis. The request applies to 396 respondents encompassing U.S. LNG and pipeline import/export firms, with an estimated annual burden of 14,256 hours as well as $1.35 million in compliance costs. Comments on the information collection are due by May 11, 2026.

Sources: www.federalregister.gov

DOE Proposes Information Collection Renewal for OCS Net Profit Share Payments

The Office of Natural Resources Revenue (ONRR) at the Department of the Interior published a proposed renewal of information collection related to net profit share leases (NPSLs) on the federal Outer Continental Shelf (OCS). The collection under 30 CFR Part 1220 covers annual and monthly capital account reporting, inventory reconciliation, and maintenance of supporting records by lessees. While presently only a small number of reports are expected (3 annually), ongoing compliance is mandated for any new or adjusted NPSLs. ONRR projects a total annual burden of nine hours. Comments are due by June 8, 2026.

Sources: www.federalregister.gov

Cove Point LNG, LP Requests Blanket Authorization for Short-Term LNG Re-Exports

DOE’s Hydrocarbons and Geothermal Energy Office received an application from Cove Point LNG, LP, seeking a two-year blanket authorization to export up to 70 billion cubic feet of previously imported LNG to non-free trade agreement countries from the Cove Point terminal in Maryland beginning July 8, 2026. This request covers only re-export of LNG and not U.S.-produced LNG. Comments and requests for additional procedures are due by May 11, 2026.

Sources: www.federalregister.gov

Legislative Updates

Establishment of a Western Refined Fuel Storage Reserve

Bill 8204, introduced in the House, directs the Secretary of Energy to establish a Western Refined Fuel Storage Reserve as part of the Strategic Petroleum Reserve. The measure was referred to the House Committee on Energy and Commerce as of April 6, 2026.

Sources: www.congress.gov

Blocking Iran Crude Oil Delivery and Sales General License

Bill 8220 seeks to nullify Iran-related General License U—previously authorizing delivery and sale of Iranian-origin crude oil loaded as of March 20, 2026. The bill was referred to the House Committees on Foreign Affairs and Judiciary on April 9, 2026.

Sources: www.congress.gov

Blocking Russia Crude Oil Delivery and Sales General Licenses

Bill 8222 was introduced to nullify Russia-related General Licenses 133 and 134A, which currently authorize delivery and sale of Russian-origin crude oil and petroleum products loaded after March 5 and March 12, 2026, respectively. The bill is under joint committee review as of April 9, 2026.

Sources: www.congress.gov

Hungary, Russian Energy Reliance, and Ukraine Assistance

Bill 8219 encourages Hungary to reduce reliance on Russian energy supplies and opposes Hungarian obstruction of aid to Ukraine. It was referred to the House Committees on Foreign Affairs and Judiciary on April 9, 2026.

Sources: www.congress.gov

Collaboration for Economic Revitalization of Contaminated Sites

Bill 8238 aims to enhance collaboration between the Economic Development Administration and EPA to support economic revitalization of contaminated sites. The bill was referred to the Committees on Transportation and Infrastructure, Financial Services, and Energy and Commerce on April 9, 2026.

Sources: www.congress.gov

What We're Reading This Week

• Countries are rethinking U.S. fossil fuels after Iran war: International oil buyers evaluate supply strategy in light of Persian Gulf disruptions and U.S. export reliability concerns.
• QatarEnergy preparing for LNG production startup, sources say: QatarEnergy is preparing for the anticipated start of new LNG production lines, according to market sources.
• Shell flags lower gas output, capital outflow amid Iran conflict but sees oil trading boost: Shell cut its gas production outlook and experienced capital outflows linked to Middle East conflict, while its oil trading units expect higher earnings.
• Middle East producers prepare for oil export resumption via Hormuz, sources say: Gulf energy producers are making technical preparations to resume oil exports through the Strait of Hormuz post-conflict.
• Extent of Damage to Middle East Energy Facilities Key to Economic Impact, OECD Says: OECD reported that the ultimate economic effects depend on the scale of infrastructure damage in the Middle East’s oil and gas sectors.
• Red lights are flashing on the scarcity of oil: Analysts warn of persistent oil supply shortfalls and market volatility amid continued regional disruption.
• Russia's Baltic Ust-Luga port resumes oil exports, sources say and LSEG data shows: Oil exports resumed from Russia’s Ust-Luga terminal following recent interruptions, with shipment data confirmed by LSEG.
• More BP Investors Demand Proof That Fossil-Fuel Pivot Will Benefit Shareholders: BP faces increased scrutiny from investors over its long-term strategy and capital allocation in the evolving energy business.
• It Will Take Months to Get Oil and Gas Flowing out of the Persian Gulf: Restoring oil and gas flows through key Persian Gulf routes is expected to require several months after recent hostilities.
• Oando plans $750 million drilling campaign, expects funding boost from Iran turmoil: Nigerian firm Oando launched a major upstream drilling initiative, projecting additional investment due to Middle East market shifts.

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