oil and gasOn Friday, the U.S. Environmental Protection Agency (EPA) announced new rules for reporting greenhouse gas emissions that will apply to the oil and gas sector, part of EPA’s plan to institute a comprehensive strategy for dealing with methane in oil and gas production. The proposed rules would alter the greenhouse emissions reporting program first mandated by Congress in 2008.

Specifically, the new rules will change the calculation methods for oil and gas emissions by changing the units of measurement, altering the equations used for collecting and reporting data, and requiring separate reports for methane, carbon dioxide and nitrous oxide rather than a single category for “carbon dioxide equivalent.”  Additionally, the new rules would alter the equations for global warming potential and require oil and gas operators to calculate individual emissions in metric tons.