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Nigeria has moved closer to turning an oil industry bill into law after a 17-year struggle to complete the legislation that aims to increase transparency and stimulate growth in the country’s oil industry.
The regulation, called the Production Safety Systems Rule, addresses safety and pollution prevention equipment, subsea safety devices and safety device testing for oil and gas production on the U.S. Outer Continental Shelf.
On the back of the U.K. government’s recent move to allow the transfer of tax history on assets sales, confidence is surging that the industry will experience growth in many areas, such as plugging and abandonment (P&A) work, thus spurring jobs growth and increased spending.
Britain plans to introduce tax changes to oil and gas companies operating in the North Sea, finance minister Philip Hammond said, in a bid to spur investment in the aging basin.
A small gas field on the edge of the British North Sea could become a litmus test for U.S. policy toward Iran.
Egypt is speeding up negotiations with neighboring countries to finalize the demarcation of borders in the Mediterranean, which holds huge natural gas reserves compared to the Red Sea.
Policy Briefs For July 27
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A regulatory move by the U.S. Bureau of Safety and Environment Enforcement (BSEE) gives offshore drillers more time for development operations.
Brazil’s oil and gas regulator (ANP) recently released pre-tender protocol for the 14th licensing round. The tender for the upcoming bid, which is scheduled for Sept. 27 in Rio de Janeiro, represents another chapter of the new face of Brazil’s oil industry designed by the government in which energy policies must have a more business-oriented status.
Brazil’s presalt fields have the potential to make the country self-sufficient in gas production; however, energy policy changes are needed to reach the goal, according to a study released by the Federal University in Rio de Janeiro.
Iran's top security body is still reviewing the Iran Petroleum Contract (IPC) model, Oil Minister Bijan Zanganeh was quoted as saying on April 9, as the contracts aimed at attracting foreign investors appear to face fresh delays.