June 14, 2026 to June 20, 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.

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📋 In This Week's Newsletter

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

Federal Government News

White House CEQ Permitting Innovators Expo Announced

The White House Council on Environmental Quality, working with NASA’s Center of Excellence for Collaborative Innovation, will host the Permitting Innovators Expo on July 31, 2026, featuring advanced permitting technologies and sessions with federal, policy, and industry leaders. Top solutions from CEQ’s previous Call for Solutions will be included in a new Permitting Innovators Solutions Catalog. The venue will be Hilton Arlington Rosslyn, with registration now open for government and industry participants. The event aims to accelerate environmental review and permitting processes across sectors.

Sources: www.whitehouse.gov

President Trump Secures Iran Memorandum, Reopens Hormuz

The Trump administration signed a Memorandum of Understanding with Iran, ensuring that Iran will not acquire nuclear weapons and reopening the Strait of Hormuz to international shipping. The accord follows a series of US military operations targeting Iranian military and nuclear capabilities. Officials from the G7, EU, UN, and mediating nations, including Pakistan and Qatar, expressed support for the deal, citing potential for broader economic recovery and energy market stability.

Sources: www.whitehouse.gov

PHMSA Pipeline Reporting Revision: Public Comment Requested

PHMSA issued a notice inviting comment on proposed revisions to its gas and hazardous liquid pipeline incident and annual report forms, aiming to improve data quality and reduce reporting burden. Changes affect reporting on pipeline diameter, anomalies, material breakdowns, and casualty categories. Annual reporting burdens are expected to decrease for several forms, and certain duplicative data elements—such as pipeline diameter submissions—will be eliminated. Major revisions include new corrosion metrics, updated leak classifications, and more precise location reporting. Comments are open until August 17, 2026.

Sources: www.federalregister.gov

FERC Schedules Environmental Review for Gulf South Petal Cavern Expansion

FERC announced an October 23, 2026 target for the environmental assessment on Gulf South Pipeline’s Petal Cavern Expansion Project in Mississippi. The proposal includes construction of a 16 Bcf salt dome cavern, brine disposal wells, additional pipelines, and intercompany metering at the existing Petal Gas Storage Field. Agencies must complete related authorizations by January 21, 2027. Comments from stakeholders, including the Choctaw Nation of Oklahoma, have been received and will be addressed in the final review.

Sources: www.federalregister.gov

BSEE Renews Oil and Gas Production Measurement and Well Regulations

The Bureau of Safety and Environmental Enforcement (BSEE) issued proposed renewals of information collection for oil and gas production measurement, surface commingling, well-completion, and well-workover operations, impacting Federal OCS lessees and pipeline right-of-way holders. New submissions and recordkeeping requirements are aimed at ensuring well completion safety, accurate royalty reporting, and secure pipeline operations. Respondent obligations range from voluntary to mandatory, with burden hour estimates detailed for each request. Comments are due in July and August.

Sources: www.federalregister.gov, www.federalregister.gov, www.federalregister.gov

Legislative Updates

Pipeline Safety Authorization Act of 2026

Bill 9338 was referred to the Committee on Transportation and Infrastructure, and also to the Committee on Energy and Commerce. The legislation aims to reauthorize federal pipeline safety programs and is pending committee assignment for further review.

Sources: www.congress.gov

A bill to amend the Energy Act of 2020 for Authorization Timelines

Bill 4795 was read twice and referred to the Committee on Energy and Natural Resources. The bill proposes enforceable federal timeline requirements for project permits and expedites judicial remedies for disputes, limiting federal actions halting fully authorized projects.

Sources: www.congress.gov

Energy Security Pacts Act

Bill 4392, covering international energy security agreements, was ordered to be reported with an amendment in the nature of a substitute by the Committee on Foreign Relations. This legislation addresses U.S. participation in global energy security initiatives.

Sources: www.congress.gov

A bill to reauthorize a program for grid resilience

Bill 4827 was read twice and referred to the Committee on Energy and Natural Resources. The proposed statute seeks to continue efforts to prevent outages and enhance electric grid resilience.

Sources: www.congress.gov

Load Forecasting Enhancement Act

Bill 9332 was referred to the House Committee on Energy and Commerce. The act promotes improved load forecasting, with provisions targeting grid reliability.

Sources: www.congress.gov

What We're Reading This Week

• More than 1 billion barrels of oil have gone missing: Oil inventories remain below expectations, raising questions about global supply reliability.
• Equinor to boost gas production from Norway's Troll gas field: Equinor plans to increase output at Norway's Troll field, supporting European gas supply.
• Europe explores energy security alternatives after Iran war’s turmoil: European governments examine alternate energy routes following disruptions in the Strait of Hormuz.
• UAE's post‑OPEC expansion push to lift oil output above 5 million bpd next year, IEA says: The IEA projects UAE oil output to exceed 5 million barrels per day by 2027.
• Opinion | On Energy, Democrats Can Learn From Texas: Texas's approach to energy policy draws national attention for its resilience.
• Exclusive: The US is using an Iranian smuggling tactic to sneak oil out of the Gulf: US operators adopt unconventional shipping practices for Gulf oil against logistical obstacles.
• Australia opens first carbon refinery, making new products from captured CO2: Australia launches a facility to convert captured CO2 into industrial products.
• Deal Gives Iran Chance to Turbocharge Its Oil Revenue: Iran stands to benefit significantly in oil revenue after the new US agreement.

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