Oil & Gas Producers NAICS 2111

Sep 27, 2025 - EPA Proposes Ending GHGRP

• The Environmental Protection Agency in September proposed eliminating the Greenhouse Gas Reporting Program (GHGRP) for the oil and gas industry and other large emitters, Oil & Gas Journal reports. The program requires oil and gas companies and other major polluters to track their annual emissions from over 8,000 facilities, including refineries, compressor stations, and power plants. The agency proposes removing all greenhouse gas reporting requirements except those subject to the Waste Emissions Program (WEP). However, Congress pushed back the WEP reporting requirement, designed to penalize oil and gas companies that emit more than 25,000 tons/year of CO2 equivalent, to 2034 as part of President Trump’s recent tax bill. EPA administrator Lee Zeldin, citing Trump’s anti-climate executive actions, described the GHGRP as unnecessary bureaucracy and estimated that ending it could save businesses up to $2.4 billion in compliance costs over the next decade.
• Amid tumbling oil prices and the lure of cheaper labor overseas, oil companies are offshoring white-collar jobs, The Wall Street Journal reports. Major oil producers, including Chevron, BP, and others, are offshoring prized, specialized white-collar positions and related work to lower-cost labor pools in countries such as India, while cutting thousands of jobs elsewhere. In February, Houston-based Chevron announced it would cut its global workforce up to 20% – or roughly 8,000 jobs – by the end of 2026. Concurrently, the company said it would expand the use of global centers like its one in India where it plans to add about 600 jobs by the end of this year, according to WSJ. Engineers in India earn salaries around a third or a fourth the size of their US counterparts. US oil-and-gas jobs have dropped almost 15% since mid-2019, according to the Labor Department.

• Oil and gas production companies are expanding offshore drilling operations in the Gulf of Mexico in part because doing so releases fewer greenhouse gases than drilling on land, The New York Times reports. Industry executives are betting on sustained demand for oil and gas for years to come and argue that offshore drilling is better for the climate than drilling on land because offshore operations emit far less greenhouse gases than producing the same amount of oil and gas on land, according to NYT. The greenhouse gas emissions associated with extracting a barrel of oil from the Gulf of Mexico are as much as a third lower than emissions from producing a barrel of oil from fields on US soil, according to a report published last year by the National Ocean Industries Association, an industry group for offshore oil, gas, and wind businesses, cited by NYT.
• Producer prices for oil and gas extraction firms declined 7.6% in August compared to a year ago, after falling 8.8% in the previous August-versus-August annual comparison, according to the latest US Bureau of Labor Statistics data. Industry producer prices are highly volatile, plunging 120% in August 2025 from their peak in June 2022, after soaring nearly 600% between April 2020 and June 2022. Employment by oil and gas extraction firms shrank 2.7% year over year in August, while the average industry wage inched up 0.8% in July to $43.13 per hour, down $1.75 from its peak in May of last year, BLS data show.