July 12, 2026 to July 18, 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

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

Federal Government News

White House Grants Regulatory Relief to Chemical Manufacturing Facilities

On July 13, President Donald J. Trump issued a proclamation exempting selected chemical manufacturing facilities from certain emission-control requirements under the EPA's HON Rule for two years. The rule, published in May 2024, targets synthetic organic chemical manufacturing, but the proclamation cited impracticality and safety concerns with technology compliance. Facilities listed in Annex I will operate under existing standards, citing national security interests.

Sources: www.whitehouse.gov

White House Fact Sheet: Regulatory Relief to Promote American Security

A White House fact sheet released July 13 details further regulatory relief for facilities in high-priority sectors, including chemical manufacturing for defense and semiconductor supply chains. The exemptions permit continued operation under pre-Biden environmental standards to avoid supply disruptions and maintain public health and military readiness. President Trump previously issued related actions affecting refrigerant and emissions findings.

Sources: www.whitehouse.gov

PHMSA to Convene Joint Pipeline Advisory Committee Meeting

The Pipeline and Hazardous Materials Safety Administration scheduled a joint meeting of the Gas and Liquid Pipeline Advisory Committees for July 30. The virtual meeting will review 13 separate notices of proposed rulemaking, covering topics such as remote sensing for right-of-way patrols, property damage definitions, operator identification notifications, rupture-mitigation valves, coating assessment deadlines, welding standards, and atmospheric corrosion reassessment intervals. Comments on the NPRMs can be submitted until August 31. PHMSA will consider committee input before issuing final rules.

Sources: www.federalregister.gov

EPA Proposes Approval of Source-Specific RACT Permit at Castleton Energy Center, NY

The Environmental Protection Agency issued a proposed rule to approve New York’s revision to its State Implementation Plan for the Castleton Energy Center facility. The revised permit imposes Reasonably Available Control Technology (RACT) standards for NOx emissions from the facility's combined-cycle combustion turbine generator, including emission limits and a semi-annual monitoring requirement. The EPA’s evaluation confirmed steam injection as the only cost-effective NOx control in operation based on recent facility emissions and reviewed technical cost thresholds.

Sources: www.federalregister.gov

FERC Receives Pipeline Rate Filings, Expansion Applications, and Environmental Reviews

Between July 13 and July 17, the Federal Energy Regulatory Commission received various pipeline rate and refund filings, annual operational reports, and applications for expansion projects. Filings include negotiated rate agreements (Natural Gas Pipeline Company of America LLC), compliance tariff amendments (Texas Eastern Transmission, UGI Storage, Hugh Brinson Pipeline, Vector Pipeline), and applications for new pipeline construction (Gulf South Pipeline’s Texas Gateway Project; Guardian Pipeline’s G3 Expansion Project in Illinois and Wisconsin; Steel Reef border crossing facility in North Dakota). Public comment periods and intervention deadlines are set for each proceeding.

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

Legislative Updates

Offshore Leasing Standards and Accountability Act of 2026

Bill 4715 would update standards for offshore leasing and accountability. Hearings were recently held in the Subcommittee on Public Lands, Forests, and Mining.

Sources: www.congress.gov

Geothermal Cost-Recovery Authority Act of 2026

Bill 4605 introduces cost-recovery provisions for geothermal operations. The measure advanced through subcommittee hearings this week.

Sources: www.congress.gov

Plug Offshore Wells Act

Bill 4239 addresses standards and requirements for plugging offshore wells. Committee hearings have been completed, supporting environmental protection objectives.

Sources: www.congress.gov

License to Drill Act

Bill 7831 relates to licensing standards for drilling activities. The bill was examined in the energy subcommittee, including discussion of regulatory changes.

Sources: www.congress.gov

Geothermal Ombudsman for National Deployment and Optimal Reviews Act

Bill 4383 proposes creation of a geothermal ombudsman to streamline deployment and review processes. Subcommittee hearings evaluated impacts on public lands and resources.

Sources: www.congress.gov

What We're Reading This Week

• US refiner margins hit new records as fuel shortage concerns grow: Rising margins signal increasing pressure on US fuel supply amid persistent refinery constraints and robust demand.
• LNG exports set to add $1.4 trillion to US GDP through 2040, S&P Global Energy study says: S&P Global estimates US LNG exports will contribute substantially to GDP over the next decade.
• Shell targets 2027 drilling at Venezuela's key offshore gas field, sources say: Shell plans initial drilling in Venezuela’s key offshore gas field beginning 2027, pending regulatory and business conditions.
• PetroChina announces first start-up of ethylene project in Xinjiang: PetroChina launched operation of its first ethylene production facility in Xinjiang, marking sector expansion.
• Western oil companies see 'fantastic' future in Iraq, sign agreements: International oil companies formalize new agreements in Iraq, citing positive outlook on upstream developments.
• Dangote Refinery raises $2.5 billion in private placement, executive says: Dangote Refinery secured $2.5 billion through private funding rounds to advance its large-scale operations.
• U.S. Natural Gas Futures Settle Higher: Natural gas futures in the US closed stronger, affecting supply and trading expectations.
• Exclusive | What’s in Lindsey Graham’s Russia-Tariffs Bill: Graham’s bill proposes tariffs targeting nations importing Russian oil, aiming to alter trade flows.
• The push to bypass the Strait of Hormuz: Industry stakeholders explore alternate routes amid geopolitical risks surrounding the Strait of Hormuz.

.