B.C. oil and gas regulations taking effect

The British Columbia government on Monday touted the introduction of new oil and gas regulations it says brings the province’s regulatory regime into the 21st Century. In a news release, the province said its new Oil and Gas Activities Act updates the previous framework, which is more than 50 years old, while acknowledging the contributions the energy industry makes to the province’s treasury.

The Iranian oil minister said that Tehran and Beirut had agreed to cooperate in oil and gas exploration in Lebanon. IRINN quoted Masoud Mirkazemi as saying here after a meeting with his Lebanese counterpart that the two sides agreed on building oil refineries and exporting gas to that country.

Shell Oil Co. spent $4 million in the second quarter to lobby the federal government on offshore petroleum drilling and other issues, according to a disclosure report. That’s up from the $2.57 million the company spent last year and the $2.27 million it spent in the first three months of 2010.

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