From Yahoo Finance: 2025-05-05 06:33:00

The US Department of the Interior plans to revise the 2024 Risk Management and Financial Assurance Rule for Outer Continental Shelf (OCS) Lease and Grant Obligations, aligning with the Trump administration’s framework to reduce costs for oil and gas producers in the Gulf of America. This move aims to free up billions for American producers, protecting taxpayers while promoting domestic energy production and jobs. The previous rule under the Biden administration would have increased financial assurance requirements by $6.9 billion, hindering investments in energy projects in the Gulf of America. Despite changes, operators on the OCS will still need to provide financial assurance for decommissioning responsibilities. The Trump administration’s approach ensures industry accountability and seeks a balanced regulatory stance, with the Department expected to finalize the new rule in 2025. Additionally, a policy update was announced to boost offshore oil production in the Gulf of Mexico, aligning with President Trump’s Executive Order to unleash US energy and following industry consultation.



Read more at Yahoo Finance: US DOI to revise the offshore financial assurance rule