EU waives methane law penalties for oil and gas firms for 3 years

Investing.com -- The European Commission told EU governments on Monday to waive penalties for oil and gas companies that violate its methane emissions law for three years. The decision follows pressure from the U.S. government to reduce the regulations.

Starting January 2027, the law was scheduled to require imported oil and gas to meet emissions monitoring rules equal to Europe's standards.

The Commission stated that EU countries should not impose penalties on companies that break the methane law in 2027, 2028 and 2029. The decision aims to prevent supply disruptions, according to the Commission.

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