August 30, 2026 to September 05, 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
• 📚 What We're Reading This Week

Federal Government News

White House Announces Historic Oil Deal Granting U.S. Majority Control Over Venezuelan Oil Reserves

President Trump announced a landmark oil agreement granting U.S. majority control of 65 billion barrels of proven reserves in Venezuela. The terms feature 100-year concessions for 17 oil fields to North American Blue Energy Partners, with U.S. governance, board oversight, and jurisdiction under U.S. law. The Department of War holds a 35% equity stake, while the Department of State receives purchasing rights on 20% of production. The deal is designed to stabilize oil supply, support jobs, and foster Venezuela's economic recovery with $100 billion in infrastructure investment, generating $200 billion in royalties and taxes over 25 years. It removes Russian and Chinese operators, increases U.S. reserves from 46 billion barrels, and includes measures for audits and governance. The agreement supports Venezuela’s democratic transition and strengthens strategic supply chains.

Sources: www.whitehouse.gov

EPA Extends 2025 Renewable Fuel Standard (RFS) Compliance Reporting Deadline

The Environmental Protection Agency extended the compliance reporting deadline for Renewable Fuel Standard obligations for 2025 from September 1, 2026, to October 1, 2026. EPA’s final rule responds to recent decisions on small refinery exemptions (SREs), giving refineries and obligated parties additional time to adjust compliance strategies. The extension applies to all obligated parties because SRE decisions affect Renewable Identification Number (RIN) markets. Attestation engagement deadlines and 2026 reporting deadlines remain unchanged. The rule relieves regulatory restrictions and becomes immediately effective upon signature to prevent unnecessary burdens caused by last-minute SRE decisions.

Sources: www.federalregister.gov

Department of Energy Stays Compliance Date for Fossil Fuel Restrictions on New Federal Buildings

The Department of Energy issued a notification staying the compliance date for Clean Energy requirements for new federal buildings and major renovations until March 1, 2027. This action affects subpart B of 10 CFR parts 433 and 435 and suspends the mandate for federal agencies to reduce fossil fuel-generated energy consumption in these buildings. The agency continues to review implementation guidance and recent rule provisions against updated energy policies, citing consistency with Executive Orders focused on energy security and reliability.

Sources: www.federalregister.gov

FERC Combined Notices of Natural Gas Pipeline Filings: Rate Changes, Compliance, and Service Agreements

The Federal Energy Regulatory Commission released combined notices of filings by multiple pipeline operators, including Eastern Shore Natural Gas Company (CP26-569-000), Northwest Pipeline LLC (RP26-1099-000), and others seeking amendments, compliance with NAESB standards, rate updates, and modifications to non-conforming agreements. Comment deadlines for these filings are set between September 8 and September 15, 2026. Filings are accessible via FERC’s eLibrary system; interested parties can submit interventions or protests in accordance with regulatory procedures.

Sources: www.federalregister.gov

EPA Issues Decisions on Small Refinery Exemptions under Renewable Fuel Standard for 2025

EPA released its August 31 decisions on 34 Small Refinery Exemption petitions for the 2025 RFS compliance year. Eighteen petitions received full exemptions; eleven received partial exemptions; three were denied; two were determined ineligible. The process utilized DOE’s economic matrix and legal interpretation of CAA section 211(o)(9), with EPA returning retired RINs to qualifying refineries. Judicial review for these final actions must be sought in the U.S. Court of Appeals for the District of Columbia Circuit. The basis for exemption determinations include the Agency’s statutory authority and consistent nationwide effect.

Sources: www.federalregister.gov

What We're Reading This Week

• Energy firms face AI-enhanced cyber attacks in connectivity push: Utilities confront advanced cyber threats amid digital expansion.
• Global Bond Yields Surge as Oil Prices Fuel Inflation Worries: Rising crude prices pressure global bond yields and inflation.
• Oil settles 1% higher, as US-Iran strikes threaten supplies: Escalating U.S.-Iran tensions prompt concerns over oil supply.
• US diesel prices hit a record high, pushing up transportation costs for a long list of goods: Diesel prices reach new highs, impacting freight costs.
• COMMENTARY: Why oil importers are learning to live with longer trade routes: Global trade disruptions force oil importers to adapt to extended routes.
• COMMENTARY: Energy Watch: Back on the boil: Market activity heats up as energy supply risks persist.
• Energy: Politico covers policy, markets, and regulation trends in energy.

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