Dodd-Frank for Oil & Gas
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Dodd-Frank for Oil & Gas
How the impending Dodd-Frank regulation impacts Oil & Gas industry
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Oil Industry Continues Fight Over Extractive Rule

Oil Industry Continues Fight Over Extractive Rule | Dodd-Frank for Oil & Gas | Scoop.it
Agence France-Presse/Getty ImagesIn the filing, the American Petroleum Institute, along with the U.S.
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Dodd-Frank: A Work in Progress

Dodd-Frank: A Work in Progress | Dodd-Frank for Oil & Gas | Scoop.it
President Barack Obama's re-election means the Dodd-Frank financial-overhaul will almost certainly not get overturned. But many of its provisions still face obstacles—and not all of them come from Wall Street.
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http://www.tpt.com/commoditymanagementblog/Home/tabid/41/articleType/ArticleView/articleId/78/Preparing-for-Dodd-Frank-Economic-Terms.aspx

  

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Dodd-Frank%20bill_Sec%201504_0.pdf

Complete explanation of what 1504 section means and what to expect

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Oil Industry Must Stop Supporting Secrecy, Say Financial Transparency and Anti-Poverty Groups

Oil Industry Must Stop Supporting Secrecy, Say Financial Transparency and Anti-Poverty Groups | Dodd-Frank for Oil & Gas | Scoop.it

The law, known as Section 1504 or the “Cardin-Lugar” provision of the Dodd-Frank Act, requires oil, gas and mining companies to disclose payments they make to host governments for the exploration and extraction of oil and minerals.

 

Some companies – including Talisman Energy, Statoil, AngloGold Ashanti and Newmont Mining –already disclose the payments they make in every country of operation. In some cases, they volunteer this information at the project level—the kind of information required to be disclosed under Section 1504 and that affected communities and financial investors want to see

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Dodd-Frank impact

Dodd-Frank also imposes new disclosure requirements on public companies engaged in the development of oil, natural gas, and other minerals. Such companies will be required to disclose in their annual reports to the Securities and Exchange Commission (the "SEC") any payments made to the U.S. federal government, foreign governments, or companies owned by a foreign government by the company for the purpose of commercial development of oil, natural gas, or minerals. Such payments include taxes, royalties, fees (including license fees), production entitlements, bonuses, and other payments the SEC may recognize as "part of the commonly recognized revenue stream for the commercial development of oil, natural gas, or minerals."

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SEC’s Day of Reckoning on Transparency: Dodd-Frank Section 1504 on Disclosure of Natural Resource Revenues

SEC’s Day of Reckoning on Transparency: Dodd-Frank Section 1504 on Disclosure of Natural Resource Revenues | Dodd-Frank for Oil & Gas | Scoop.it
On August 22, the Securities and Exchange Commission (SEC) is issuing the detailed implementing rules on natural resource transparency in Section 1504 of the Dodd-Frank Act.
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Industry makes last-ditch appeal against SEC disclosure rule

The oil industry today made a last-ditch appeal for exceptions to proposed reporting rules that U.S. businesses say would give foreign competitors an unfair advantage while forcing them to stop drilling in Qatar, Cameroon and other countries.
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Implementing the Dodd-Frank Wall Street Reform and Consumer Protection Act

The official SEC page with timelines and updates on the Dodd-Frank legislation

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U.S. PWYP Law 2010 - Sec. 1504, Dodd-Frank Wall Street Reform Act | Revenue Watch Institute

Document detailing Section 1504 requirements

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EU Parliament Adopts Oil, Gas Transparency Initiative

EU Parliament Adopts Oil, Gas Transparency Initiative | Dodd-Frank for Oil & Gas | Scoop.it

A provision of the U.S. Dodd-Frank Act mandates oil, gas and mining companies listed on U.S. exchanges to disclose payments they make to foreign governments, and it has been lobbying other countries to adopt similar rules.

The European Parliament adopted a report Tuesday that included a provision calling for the European Commission to develop a plan for greater transparency by oil, gas and mining companies.

The report, which was first released July 25, contains a provision that calls for the EC to “establish legally binding requirements for extractive companies to publish their revenue payments for each project and country they invest in, following the example of the U.S. Dodd-Frank bill,” it said.

 

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