Date: 04/10/2024
Type: Implementation of IRA
On April 10, 2024, DOI’s Bureau of Land Management published a final rule aimed at “reduc[ing] the waste of natural gas from venting, flaring, and leaks during oil and gas production activities on Federal and Indian leases.” The rule implements IRA section 50263, which “provides that, for leases issued after August 16, 2022, royalties are owed on all gas produced from Federal land, including gas that is consumed or lost by venting, flaring, or negligent releases through any equipment during upstream operations.”
The Bureau of Land Management initially proposed the rule on November 30, 2022.