The Senate Energy Committee is weighing legislation to implement a 2012 U.S.-Mexico agreement on offshore drilling cooperation that has stalled amid House-Senate disagreements. The Energy and Natural Resources Committee has scheduled an Oct. 1 hearing on dueling House and Senate bills to implement the Transboundary Hydrocarbon Agreement, a pact to enable cooperation in development of energy along a Gulf of Mexico maritime boundary.
In June, the House passed an implementing bill that would exempt companies operating under the U.S.-Mexico pact from Dodd-Frank law requirements that oil and gas producers disclose payments to foreign governments.
But the Senate Energy and Natural Resources Committee’s bipartisan leadership has introduced a version of the implementing bill that does not contain the Dodd-Frank exemption. The White House has attacked the House version of the plan.