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Gulf of Mexico oil lease sale number 259 held on Wednesday attracted $264 million in bids for drilling rights in an area estimated to hold nearly 30 billion barrels of oil, with Chevron coming in with the highest bids
WTI crude prices have gained 1.6% by midday Thursday, as banking crisis fears further eased and as Kurdish crude exports remain suspended
A Republican sponsored energy bill passed the House on Thursday that seeks to promote oil and gas production in the United States, as well as repeal parts of Biden's Inflation Reduction Act
The banking crisis that started with the failure of Silicon Valley Bank (SVB) is putting major U.S. LNG projects at risk, as rising interest rates and supply chain issues introduce financial challenges that have already led to delays.
The Biden administration is moving ahead today with the controversial online auction of over 114,000 square miles of oil and gas leases in the Gulf of Mexico