Imposing

A federal judge in Louisiana has overturned the Department of Interior’s decision imposing an additional regulatory burden on offshore oil and natural gas operators in the wake of the Deepwater Horizon drilling platform explosion in the Gulf of Mexico.

FERC last Thursday approved a policy statement that sets out the guidelines the agency will follow when imposing civil penalties for violations of its natural gas and electricity regulations.

FERC Thursday approved a policy statement that sets out the guidelines the agency will follow when imposing civil penalties for violations of its natural gas and electricity regulations.

FERC Thursday approved a policy statement that sets out the guidelines the agency will follow when imposing civil penalties for violations of its natural gas and electricity regulations.

IntercontinentalExchange Inc. (ICE) will be imposing position and accountability limits on its Henry Hub over-the-counter (OTC) swaps contract, starting with the February 2010 contract, to conform with directives from the Commodity Futures Exchange Commission (CFTC) regarding contracts that perform a significant price discovery function (SPDF).

Saying that imposing a severance tax on growing natural gas production in the Marcellus Shale could hurt his state’s natural gas industry, Pennsylvania Gov. Ed Rendell last week announced that he was dropping the proposed 5% tax plan until at least next year. A key supporter of the severance tax in the state’s legislature said he will continue to push to have it implemented as soon as next spring.

Saying that imposing a severance tax on growing natural gas production in the Marcellus Shale could hurt his state’s natural gas industry, Pennsylvania Gov. Ed Rendell on Monday announced that he was dropping the proposed 5% tax plan until at least next year.

A Chesapeake Energy Corp. official last Wednesday cautioned the Commodity Futures Trading Commission (CFTC) against imposing hard federal position limits or removing the swap dealer hedge exemption in the energy commodity markets, saying it would restrict liquidity in the market and short-circuit domestic exploration and production (E&P) efforts.

As the Commodity Futures Trading Commission moves to crack down on excessive speculation in energy markets by imposing position limits, one U.S. senator is eyeing changes in the tax code to cut trading volume, while another will propose a bill to require the reporting of over-the-counter (OTC) derivative trades — including energy transactions — to a central trade repository, making it easier for regulators to keep closer tabs on the market.