In the three years following the Macondo incident in the Gulf of Mexico, the US authorities embarked on one of the most comprehensive reforms to oil and gas regulation in the country's history. The changes are ambitious in their scope, strengthening requirements for everything from well design to workplace safety and corporate accountability.
As the sector focuses on complying with these rules, research by GL Noble Denton examines how industry professionals are adjusting to the 'new normal' of regulatory oversight.
Reinventing Regulation: The impact of US reform on the oil and gas industry provides a timely snapshot of industry sentiment towards the new regulation being introduced in the US. It explores the national and global impact of the reform on the oil and gas sector, with particular focus on how it is affecting companies’ attitudes to risk, cost and compliance, as well as their investment plans.
Based on a survey of more than 100 senior oil and gas players - and in-depth interviews with industry executives, analysts and academics - Reinventing Regulation highlights professionals' views on a wide range of insightful topics. These include how effective the US authorities have been in preparing the industry for the new measures, and the impact of the new US regulatory landscape on other regimes across the world.