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The energy industry is highly regulated in many countries around the world. International oil companies, national oil companies, service companies and other energy firms need to understand how government laws, regulations and industry standards apply to their operations. Then they need to establish cost-effective processes to fulfill legal requirements throughout the lifecycle of their operations.
IHS Markit regulatory experts can help you establish a best-practice compliance management approach that is tailored to your company so you can not only minimize regulatory risk but also gain an advantage over competitors by boosting operational efficiency and reducing costs.
Our upstream oil and gas regulatory consulting team provides:
Government leaders around the world typically welcome investment by the energy industry. Oil and gas regulatory authorities want to encourage foreign companies to establish exploration and production operations in their country by offering a regulatory environment that allows the companies to earn strong ROI while also generating a reasonable revenue stream to the government and protecting their constituents’ interests.
IHS Markit oil and gas regulatory experts can help you develop a winning strategy to attract E&P investment from major energy companies by ensuring that your regulatory framework is aligned with global best practices and therefore highly competitive with other countries seeking investors.
Our upstream oil and gas consulting team provides:
When a client was preparing to stand trial in a US court, IHS Markit provided an expert witness report that helped settle the issue without going to trial. By analyzing historic developments in contracting with international oil and gas companies in the Middle East and the evolution of foreign tax credits by Western governments, we supported the client’s case and helped it achieve major cost savings.Learn more
The government of India undertook a review of policies in order to promote enhanced oil recovery (EOR) projects across the country. IHS Markit supported this effort by identifying best practices used in 25 jurisdictions worldwide, describing alternative policy solutions and assessing the impact of potential incentives on development of new oil fields and revenue accrual to the government.Learn more
A major oil company outsourced development of an enterprise management solution with the goal of achieving 100% compliance worldwide. IHS Markit developed the system, populated it with the laws and regulations of a jurisdiction where the company has invested billions of dollars, completed a pilot project and supported it with consulting – providing the client with a competitive advantage.Learn more
After opening Mexico’s energy sector to foreign oil and gas investment, government agencies wanted to ensure industrial and operational safety and protect the environment. IHS Markit identified international best practices, developed a proposal for new regulations and helped the government answer questions during the public comment period. The regulation was approved and published in 2016.Learn more