In January 2007, the Department of the Interior announced an increase in the royalty rate for future leases granted in the deepwater region of the Gulf of Mexico. Companies engaged in exploration and development of oil and gas resources do so under terms of concessions, leases, or contracts ...
an that begins "Amid rising oil and gas prices and reports of record oil industry profits, a number of governments have taken steps to reevaluate and, in some cases, increase the share of oil and gas revenues they receive for the rights to develop oil and gas on their lands and waters....
three times a year (March, July, and November) for state oil & gas leases. State leases have a primary term of 5 years and a royalty rate of either 16 2/3% (1/6th) or 12.5% (1/8th). Both the Federal and State lease sale auctions are now internet-based using the siteEnergyNet....
Our research fills this gap by extending historic emissions analysis through 2019 and provides a forward-looking emissions projection to 2030. Our work also helps inform the Biden Administration, who ordered a short-term pause in 2021 on new oil and gas leases on federal lands and waters pending...
In 1920, the Mineral Leasing Act removed oil, gas, oil shale, phosphates, sodium, and certain other minerals on federal public domain lands from the claim-patent system of the 1872 Mining Law and set up a system of leasing in which the federal government retains ownership of the ...
4.2In re Union Oil Company of California In 2005, the FTC entered into a consent decree settling its case against Union Oil Company of California (henceforth “Unocal”).Footnote165The consent was part of a larger consent arrangement that allowed Chevron Corporation to acquire Unocal.Footnote166The...
This was required by the 2022Inflation Reduction Act, President Joe Biden'ssignature climate legislation.The new royalty rate is expected to remainin place until 2032. The revamped rate wouldincrease costs for oil and gas companies byaround $1.8bn until 2032, said the InteriorDepartment.North ...