April 26, 2026 to May 02, 2026

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.

Want to track the upstream and downstream forces affecting Oil & Gas? Don’t miss this week’s updates in Utilities & Power and Mining. Also consider subscribing to our Oil & Gas - Ottawa edition covering critical GR news north of the border.

📋 In This Week's Newsletter

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

This Week's Congressional Calendar

• House Education and Workforce Hearing on Mining Workforce and U.S. Energy Security: On May 8, 2026, the House Education and Workforce Committee will hold a hearing titled "Protecting Workers and Powering America: The Future of Mining" at Vincennes University Gibson County Center in Indiana.

Federal Government News

Presidential Permit Issued for Bridger Pipeline Expansion at U.S.-Canada Border

On April 30, 2026, President Donald J. Trump granted a Presidential permit to Bridger Pipeline Expansion LLC, authorizing the construction, operation, and maintenance of pipeline facilities at the U.S.-Canada border in Phillips County, Montana. The permitted facilities will support the cross-border movement of crude oil and petroleum products, with defined conditions on compliance, inspection, and ownership transfer. The permit requires facilities to adhere to all applicable laws, allows inspections by federal and state agencies, mandates removal upon permit termination, and contains indemnification clauses. It does not apply to natural gas as regulated under the Natural Gas Act.

Sources: www.whitehouse.gov

FERC Finalizes Five-Year Review of Oil Pipeline Index Level

The Federal Energy Regulatory Commission issued a final rule establishing a revised index level for oil pipeline rate ceilings, effective July 1, 2026, through June 30, 2031. The new index is set at PPI-FG minus 0.55%, replacing the previous formula established in 2021. The rule reflects adjustments accounting for updated return on equity (ROE) methodologies and trims the industry dataset to the middle 80% of cost changes. The decision followed an open comment period and incorporates revised procedural and data review steps. FERC estimates the rule will affect rates for approximately 350 interstate oil and refined product pipelines and confirmed the regulatory impact analysis found no measurable costs or benefits outside those experienced by pipelines and shippers.

Sources: www.federalregister.gov

BLM Revises Federal Oil and Gas Royalty Regulations Following OBBB Enactment

The Bureau of Land Management issued a direct final rule, effective June 29, 2026, updating oil and gas lease royalty regulations pursuant to the One Big Beautiful Bill Act (OBBB). The rule returns the minimum royalty rate for federal leases to not less than 12.5%, superseding the higher rates introduced by the Inflation Reduction Act and subsequent 2024 regulations. Certain higher royalties on leases issued under prior rules remain unaffected. The BLM stated these changes align regulatory language with current statute and are not expected to impact existing leases.

Sources: www.federalregister.gov

Waste Prevention Rule Phase-In: BLM Extends Compliance Deadlines for LDAR and Gas Measurement

The Bureau of Land Management issued a final rule confirming a one-year extension of compliance deadlines for Leak Detection and Repair (LDAR) and gas measurement requirements established under the 2024 Waste Prevention and Resource Conservation Rule. The BLM responded to public comments by maintaining the delay, stating that forthcoming revisions to the affected provisions warrant postponement. The agency cited the cost and administrative burden of immediate compliance and indicated that only a small fraction of lost gas is attributable to leaks under current estimates.

Sources: www.federalregister.gov

U.S. Department of Commerce Initiates Antidumping Investigations on Oil Country Tubular Goods

On April 28, 2026, the Department of Commerce announced the initiation of less-than-fair-value (antidumping) investigations on certain oil country tubular goods (OCTG) from Austria, Taiwan, and the United Arab Emirates. The investigations follow petitions by the U.S. OCTG Manufacturers Association, U.S. Steel, and United Steelworkers, alleging imports are priced below fair value and cause injury to domestic producers. Estimated dumping margins range from 43.64% to 126.08%. The ITC will make a preliminary injury determination by May 17, 2026, and Commerce is accepting comments on the scope of the investigations through May 12, 2026.

Sources: www.federalregister.gov

Legislative Updates

Nationwide Consumer and Fuel Retailer Choice Act of 2025 Advances with House Rule Adoption

H.R. 1346, the Nationwide Consumer and Fuel Retailer Choice Act of 2025, saw House progress as Rule H. Res. 1224 passed. The bill focuses on environmental protection and would affect fuel retailing standards.

Sources: www.congress.gov

Bill to Temporarily Suspend Fuel Excise Taxes and Bar Oil/Gas Credits During High Prices Introduced

H.R. 8600 was referred to the House Ways and Means Committee. The bill seeks to temporarily suspend certain fuel excise taxes while gasoline prices exceed $3.99 per gallon and would prohibit specific credits or deductions for oil and gas companies during such periods.

Sources: www.congress.gov

Resolutions Addressing State Energy Policies and Greenhouse Gas Reporting Referred to House Committees

H.R. 1227 condemns state-level energy policies restricting domestic oil output, increasing gasoline prices, and affecting energy security; it was referred to relevant House committees. H.R. 1245, recognizing the U.S. Greenhouse Gas Reporting Program's importance, was also referred.

Sources: www.congress.gov, www.congress.gov

Clean Air Act and Renewable Fuel Standard Reform Bill Referred to Committee

H.R. 8536, proposing amendments to the Clean Air Act and reforms to the Renewable Fuel Standard, was referred to the House Energy and Commerce Committee for review.

Sources: www.congress.gov

Federal Power Act and PURPA Amendment on Return on Equity Calculation Introduced

H.R. 8568 proposes to amend the Federal Power Act and PURPA to require that returns on equity for utilities and gas transmission providers be set at the lowest point within an established range of reasonableness. The bill was referred to the House Energy and Commerce Committee.

Sources: www.congress.gov

State Government News

Indiana State Senators Endorse Extended Gas Tax Suspension amid High Prices

Senator Jeff Raatz (R-Richmond) publicly supported Governor Braun’s suspension of state gas taxes to provide relief as prices reached $4.13 per gallon in Indiana.

Sources: www.indianasenaterepublicans.com

Indiana Lawmakers Call for Broader Fuel Tax Relief and Monitor Price Gouging

Senator Ron Alting (R-Lafayette) urged Indiana’s Governor to extend the state’s gas tax holiday and suspend an additional 36-cent excise tax, while encouraging the public to report suspected price gouging.

Sources: www.indianasenaterepublicans.com

What We're Reading This Week

• Oil majors eye resurgent Canadian energy in wake of Middle East upheaval: Major oil firms are increasing focus on Canadian assets amid instability in Middle Eastern supply.
• Exclusive: Companies dust off oil rigs in storage in Venezuela as contracts are overhauled: Oil operators in Venezuela are reactivating stored rigs as contractual conditions change.
• Why U.S. Oil Companies Are Not Plugging the World’s Energy Gap: U.S. oil producers’ strategies and global supply limitations are affecting their response to current energy shortages.
• Five Takeaways From the Journal’s Analysis of the U.A.E.’s Exit From OPEC: The UAE’s decision to leave OPEC is influencing international oil market dynamics.
• Air Liquide says Qatar's Ras Laffan restart would bring quickest helium supply relief: Air Liquide notes that restart of Qatar’s Ras Laffan facility is key for near-term helium market balance.
• Saudi oil prince's iron grip faces ultimate test with UAE's shock OPEC exit: The UAE withdrawal tests Saudi Arabia’s market leadership within OPEC.
• Fed should ditch rate-cut lean because of oil shock, policymakers say: Some policymakers suggest the Federal Reserve reconsider interest rate cuts in light of recent oil price shocks.

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