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In this executive order, the President of the United States announces new tariffs on nations that import oil from Venezuela, starting April 2, 2025. The decision aims to address the national emergency concerning Venezuela, which poses a threat to U.S. security and foreign policy, partly due to the actions of the Venezuelan government and the involvement of the Tren de Aragua gang. The order allows a 25% tariff on imports from countries receiving Venezuelan oil, directly or indirectly, to be implemented or lifted based on specific criteria and consultations between various U.S. governmental departments. These measures are an effort to mitigate the impact of Venezuela's destabilizing activities on the United States and its interests.

The Federal Energy Regulatory Commission has decided to end a study, known as a Notice of Inquiry (NOI), examining how oil pipeline capacity is allocated during unusual circumstances, particularly those caused by the COVID-19 pandemic. The study initially sought to understand if current policies meet the demand for pipeline capacity, which had been disrupted, especially for transporting jet fuel. Various airlines had argued for changes to these policies to help rebuild capacity allocations. However, after reviewing feedback from different stakeholders, the Commission concluded that there wasn't enough evidence for making broad policy changes at this time and will terminate the proceeding.

The Federal Energy Regulatory Commission (FERC) has completed its five-year review of the oil pipeline index, which is used to adjust annual oil pipeline rate ceilings. The new index, effective July 1, 2021, will be the Producer Price Index for Finished Goods plus 0.78%. This decision follows a Notice of Inquiry issued in 2020 and includes considerations like trimming data to the middle 80% of cost changes and removing the effects of an income tax policy change from calculations. The Commission's decision aims to ensure rates reflect typical industry-wide cost trends, but it has faced criticism from Commissioner Richard Glick, who argues that the new methodology unduly favors pipeline companies at the expense of consumers.

The Department of Justice has approved a proposed settlement with United Molasses, Inc. under the Oil Pollution Act concerning oil discharges at Terminal 4 in Richmond, California. As part of the settlement, United Molasses, Inc. will pay $650,000 to settle claims for damage to natural resources. The public can review and comment on this agreement until January 10, 2025, by contacting the Assistant Attorney General, Environment and Natural Resources Division. Further details and access to the settlement document are available on the Justice Department's website.

The Bureau of Land Management has proposed to reinstate an oil and gas lease in Lea County, New Mexico, originally held by EOG Y Resources Inc. This action follows the lessee's request for reinstatement and payment of owed rentals since the lease termination. The lease will be reinstated under original conditions, with some changes such as increased rental and royalty rates, and the lessee has agreed to these updated terms along with paying necessary administrative and publication fees.

The Environmental Protection Agency (EPA) is proposing to approve a revision to Maryland's air quality plan. This revision confirms that there are no sources in Maryland subject to the 2016 Oil and Gas Control Techniques Guidelines, which set standards to control air pollution from oil and gas facilities. Maryland conducted a thorough review and found no facilities that meet the criteria requiring them to follow these guidelines. The EPA is open to public comments on this proposal and will consider them before making a final decision.

The Bureau of Ocean Energy Management (BOEM) announced that they are canceling the Record of Decision for the Gulf of Mexico Outer Continental Shelf Oil and Gas Lease Sale 257. This decision is in response to Executive Order 14008, which pauses new oil and gas leasing on public lands and offshore waters until a comprehensive review is completed. The lease sale was initially planned to occur on March 17, 2021, but is now halted. BOEM may consider the lease sale again after the review and could issue a new decision in the future.

The Bureau of Land Management (BLM) has issued a final rule to adjust civil monetary penalties for onshore oil and gas operations and coal trespass due to inflation. This update, effective January 17, 2025, follows the requirements of the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. The rule does not allow for public comment due to its non-discretionary nature, and it outlines increases in specific monetary penalties to maintain their deterrent effect. The adjustments are calculated using a multiplier based on the change in the Consumer Price Index from October 2023 to October 2024.

The Department of Commerce decided to cancel the review of countervailing duties on oil country tubular goods from India because the parties that requested the review withdrew their request within the allowed time frame. This review was initially intended to cover 45 Indian companies. The Department will instruct U.S. Customs and Border Protection to assess duties on these goods as per the usual rules, and reminds parties about their responsibilities regarding confidential information. This cancellation is in accordance with U.S. regulations and was published as official notice.

The Bureau of Ocean Energy Management (BOEM) has released a Record of Decision regarding the proposed oil and gas Lease Sale 257 in the Gulf of Mexico. This decision highlights BOEM's preferred plan, known as Alternative A, which would allow leasing of most unleased areas in the Gulf, except for certain protected zones and areas with ongoing legal issues. The lease sale is expected to cover approximately 79.7 million acres, potentially yielding up to 1.118 billion barrels of oil and 4.424 trillion cubic feet of natural gas. Additionally, BOEM has adopted various environmental and operational stipulations to protect sensitive underwater features and ensure responsible development.