June 21, 2026 to June 27, 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

BLM Proposes Major Overhaul of Onshore Oil and Gas Leasing Regulations

The Bureau of Land Management issued a proposed rule on June 24 outlining extensive changes to onshore oil and gas leasing on federal lands. The proposal would implement provisions from the One Big Beautiful Bill Act and multiple recent executive orders, reintroduce noncompetitive leasing, eliminate the leasing preference criteria, shorten public participation windows, restore pre-2024 minimum bond amounts, and lower lease application and protest fees. Further, the proposal would revise lease stipulations and remove certain regulatory references, with public comments accepted until August 24, 2026.

Sources: www.federalregister.gov

EPA Extends Comment Period for Hazardous Air Pollutants Rule Covering Oil & Gas Facilities

The Environmental Protection Agency is extending the public comment deadline for its proposed rule addressing National Emission Standards for Hazardous Air Pollutants (NESHAP) affecting crude oil and natural gas production, transmission, and storage facilities. The initial comment period, set to close June 22, 2026, is now extended to August 6, 2026, allowing stakeholders additional time to review and provide feedback on technology review and reconsideration provisions.

Sources: www.federalregister.gov

BLM Seeks Input on Proposed Changes to Royalty Rules for Lost Oil and Gas

The Bureau of Land Management published a proposed rule amending its approach to royalties for oil and gas lost from onshore federal and Indian leases. Prompted by the One Big Beautiful Bill Act and Executive Order 14154, the rule would revise requirements for waste minimization plans, leak detection and repair, measurement at flares, and the classification of unavoidable losses. The BLM plans to reduce certain reporting and compliance burdens, with comments due by August 24, 2026.

Sources: www.federalregister.gov

FERC Initiates Environmental Review of Critical Energy Reliability Link Project in Colorado

The Federal Energy Regulatory Commission announced a new scoping period for the proposed Critical Energy Reliability Link Project in Colorado, following an amended application that adds pipeline mileage and facilities. The project, put forward by Rockies Express Pipeline LLC and its partners, involves nearly 163 miles of pipeline and a new compressor station, aiming to deliver up to 100,000 dekatherms per day of gas. Public comments on environmental impacts are due by July 17, 2026.

Sources: www.federalregister.gov

DOE Receives LNG Export Application for Rio Grande LNG Train 6 to Non-FTA Nations

The Department of Energy has received an application from Rio Grande LNG Train 6, LLC to export up to 312.05 billion cubic feet per year of liquefied natural gas to countries without a free trade agreement with the U.S., from its expansion project in Cameron County, Texas. The term would extend through December 31, 2050, or for 20 years following commencement of operations. Stakeholders have until August 25, 2026, to submit written comments or motions to intervene.

Sources: www.federalregister.gov

Legislative Updates

S.4944: Bill to Streamline Permitting under the Natural Gas Act and Other Laws

Bill S.4944 proposes to streamline permitting under the Natural Gas Act, Clean Water Act, and the National Environmental Policy Act. The bill was read twice and referred to the Committee on Environment and Public Works with the full text printed in the Congressional Record (CR S3206-3214).

Sources: www.congress.gov

H.R.9372: Data Infrastructure Energy Measurement and Standards Act

H.R.9372, the Data Infrastructure Energy Measurement and Standards Act, saw introductory remarks by the sponsor entered into the Congressional Record (CR H4134) on June 23, 2026.

Sources: www.congress.gov

H.R.9022: Energy and Water Development and Related Agencies Appropriations Act, 2027

The FY2027 Energy and Water Appropriations bill (H.R.9022) continues to advance in the House. It was covered under House Resolution 1377, which provides for structured floor consideration, one hour of debate, and one motion to recommit.

Sources: www.congress.gov

H.R.9478: To Establish a DOE Research Initiative on Methane Removal

H.R.9478 proposes requiring the Department of Energy to establish a technology research initiative focused on removing methane from the atmosphere. The bill was referred to the House Committee on Science, Space, and Technology.

Sources: www.congress.gov

H.R.9453: Bill to Amend the Clean Air Act Related to Vehicle Choice and Grid Protections

H.R.9453 seeks to amend the Clean Air Act to address consumer vehicle choice, grid protection, and regulatory limits. It was referred to the House Committee on Energy and Commerce on June 25, 2026.

Sources: www.congress.gov

What We're Reading This Week

• How Trump caused the biggest oil shock in history and got away with it – for now: Analysis of steep oil price swings attributed to U.S. policy responses and Middle East volatility.
• Oil prices dive as more tankers move through Strait of Hormuz: Spot crude prices fell as additional shipping resumed through the critical Hormuz strait.
• Hormuz oil shock echoes 1973 embargo lessons: Recent disruptions at Hormuz draw comparisons to the 1973 oil crisis.
• Trump threatens DOJ probe of oil companies: Former President Trump indicated possible federal investigation of oil companies over fuel prices.
• Saudi Aramco resumes oil loading at Ras Tanura in boost to supply: Saudi Aramco restarted crude shipments at its largest terminal following a four-month closure.
• Global natural gas markets to stabilize after Middle East war, says GECF Secretary General: Gas Exporting Countries Forum Secretary General expects more stable gas demand in the third quarter.
• Phillips 66 CEO warns of refining, petrochemical earnings volatility from Hormuz disruptions: Phillips 66’s CEO flagged financial exposure linked to ongoing risks in the Hormuz region.
• Energy & Utilities Roundup: Market Talk: A summary of recent developments affecting the U.S. energy and utilities sector.
• TotalEnergies must invest in Gulf pipelines to bypass Hormuz, CEO says: TotalEnergies plans to invest in alternative pipeline routes amid geopolitcal tensions.
• Russian oil firms should process 30% of crude oil at home, Kommersant reports: Report indicates new Russian policy targeting domestic refinery capacity for crude throughput.

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