Video answer: Legal compliance challenges in the oil & gas industry
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Regulatory compliance in the oil and gas industry makes for a unique set of demands, and due to the large upfront costs, a heavy investment is required… By the very nature of their product, oil and gas companies must sell to different markets where regulations will vary even from state-to-state and country-to-country.
Video answer: Environmental compliance information for energy extraction
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For oil and gas service companies, regulatory compliance is a multi-faceted process that must be accurate. Often companies need to meet the standards from typically more than one governing agency. A business may potentially identify the needed service of high-velocity lube oil flushing.
Regulatory Compliance in the Oil & Gas Industry. 26 May, 2020. By Vitalii Yeliashevskyi, Senior Engineer. Many companies operating on a global scale or those wanting to move their offshore units between countries, are confounded by a variety of regional regulations and standards which have significantly increased over the recent years.
This is a department under the Ministry of Petroleum Resources charged with the responsibility to provide regulatory guidelines across the entire oil and gas value chain in Nigeria.
The major federal agencies involved in assuring regulatory compliance for oil and gas development are the BLM and the Environmental Protection Agency (EPA). Bureau of Land Management. The BLM’s inspection and enforcement program mostly conducts environmental inspections. According to the GAO in a 2014 report, Oil and Gas: Updated Guidance, Increased Coordination, and Comprehensive Data Could Improve BLM’s Management and Oversight, the BLM has failed to adequately inspect because of a ...
The compliance landscape is in a state of evolution, and global oil and gas businesses must navigate compelling challenges and expanding supply chain data requirements. Companies are expected to take ownership of the actions of their upstream suppliers, and the extraction sites they build and operate.
The SEC ensures financial and organizational compliance of interstate public utility holdings, as well as publicly traded companies in the oil and gas industry. U.S. Department of Energy The Department of Energy manages the United States' nuclear infrastructure and administers the country's energy policy.
Regulatory & Compliance Issues in the Oil and Gas Industry What is the security status of the oil and gas industry? According to the Department of Energy 2018 multiyear plan, Nation-state actors increasingly target the energy industry infrastructure. According to a 2015 Director of National Intelligence report, cybercriminals were working to find ways to remotely access industrial control grids.
The style and features of regulation of oil and gas business. The role and responsibilities of the compliance function within oil and gas practice. The issues to be considered in developing compliance policies and procedures. A variety of core pieces of legislation which are relevant to the compliance function.
Chasing Regulatory Compliance in Oil and Gas. Regulatory compliance in the oil and gas industry makes for a unique set of demands, and due to the large upfront costs, a heavy investment is required. On top of which, a thorough understanding of regional regulations and tax standards is crucial. The combination of the two creates an environment that ...