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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Dates: 2026-02-22 to 2026-02-28

📋 In This Week's Newsletter

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

Federal Government News

Trump Administration Moves to Bolster U.S. Energy Production and Exports

The White House published an update outlining actions taken by President Trump to advance American energy independence. Citing a record-setting 2025 LNG export volume exceeding 100 million metric tons, the administration reported a 55% rise in drilling permits, with nearly 6,000 new permits issued. Policies highlighted include withdrawal from the Paris Climate Accord, expansion of federal lands leasing, reduction of fuel economy standards, revocation of the Endangerment Finding, and halting of the previous administration’s EV mandate. The administration allocated $625 million for coal sector modernization and initiated regulatory rollbacks targeting energy and consumer goods. New investments in nuclear energy and continued deregulation were also stated as drivers for industry growth and energy exports.

Sources: www.whitehouse.gov

BSEE Proposes Revisions to Offshore Blowout Preventer and Well Control Rule

The Bureau of Safety and Environmental Enforcement (BSEE), in response to Executive Order 14154 and Secretary's Order 3418, published a proposed rule amending requirements in the 2023 Blowout Preventer Systems and Well Control Rule. Key changes focus on clarifying failure data submission, modifying the initiation period for failure analysis from 90 to 120 days, and shifting recordkeeping for independent third-party qualifications to be retained by operators for the project lifespan rather than submitted by default. The proposal emphasizes elimination of duplicative reporting, anticipated annual cost savings of $43,441, and maintains BSEE's oversight via access to failure data and qualifications on request. Public comment is open until March 25, 2026.

Sources: www.federalregister.gov

BOEM Issues Record of Decision and Final EIS for Gulf of America OCS Lease Sales 259 and 261

The Bureau of Ocean Energy Management (BOEM) released its Record of Decision reaffirming the conduct of Gulf of America (formerly Gulf of Mexico) Outer Continental Shelf Oil and Gas Lease Sales 259 and 261. The announcement follows legal challenges and a recent court ruling requiring revised greenhouse gas analysis and consideration of Rice's whale habitat. BOEM completed a programmatic EIS, addressing GHG modeling and protected species concerns, which will serve as the NEPA baseline for post-lease and site-specific development approvals. There is no current injunction restricting management of the leases, and BOEM plans to use the updated EIS to guide future permitting and tiered review.

Sources: www.federalregister.gov

BOEM Begins Programmatic Environmental Review for California OCS Oil and Gas Lease Sales

BOEM announced its intent to prepare a Programmatic Environmental Impact Statement (PEIS) for proposed oil and gas lease sales covering approximately 65 million offshore acres across Northern, Central, and Southern California. The PEIS will evaluate the effects of leasing, exploration, and development, addressing alternatives such as leasing all proposed areas, no action, and restricting new leases to areas near existing Southern California infrastructure. Agencies and public stakeholders have until March 30, 2026 to submit comments on the scope, significant issues, and potential mitigation strategies.

Sources: www.federalregister.gov

FERC Withdraws Proposed Policy for Oil Pipeline Affiliate Committed Service

The Federal Energy Regulatory Commission (FERC) terminated its proposed policy statement on evaluating committed transportation services for oil pipelines when the only shipper is an affiliate of the pipeline. Initiated in December 2022, the policy would have addressed perceived risks of discrimination in contract allocation by implementing a safe harbor for rate justification and increased scrutiny of affiliate transactions. Following feedback—opposing comments from pipelines citing regulatory uncertainty and supporting submissions from shippers—FERC concluded that the matter will be resolved on a case-by-case basis under existing law.

Sources: www.federalregister.gov

Legislative Updates

Critical Mineral Consistency Act of 2025

Bill 755, Critical Mineral Consistency Act of 2025, has been placed on the Union Calendar, Calendar No. 444. This legislation addresses matters pertinent to the energy sector and critical minerals policy.

Sources: www.congress.gov

Sloan Canyon Conservation and Lateral Pipeline Act

Bill 972, Sloan Canyon Conservation and Lateral Pipeline Act, was passed by the Senate without amendment via unanimous consent (consideration: CR S697-699). The bill’s focus spans public lands and natural resources, including aspects of pipeline development.

Sources: www.congress.gov

What We're Reading This Week

• Oil and gas majors and traders suspend shipments via Hormuz as US attacks Iran, sources say: Oil and gas companies are pausing transit through the Strait of Hormuz after US military action targeting Iran.
• Saudi Aramco bringing shale gas revolution to Arabian Desert: Saudi Aramco is deploying shale technology to expedite gas development and production in the Arabian Desert.
• Abu Dhabi’s State Oil Company Looks Beyond Oil - The New York Times: ADNOC is pursuing diversification by investing in renewables and chemicals while maintaining oil production.
• Exclusive: Kuwait's KPC draws BlackRock, Brookfield, EIG to possible $7 billion pipeline deal, sources say: Kuwait Petroleum Corporation is attracting major investors for a potential multi-billion-dollar pipeline sale.
• Eni to reach final investment decision for Indonesia gas projects next month, regulator says: Eni is nearing a final investment decision on key Indonesian gas developments per the national regulator.
• An Aviation Carbon-Offset Deadline Looms, But Credits Are in Short Supply: Airlines face a shortage of carbon credits as mandatory offset deadlines approach in the global aviation sector.

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