Companies Bid $264M in Gulf Oil Sale Mandated by Climate Law
Bids were up 38% from the last auction and marked the most offered in a sale since 2017.
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Bids were up 38% from the last auction and marked the most offered in a sale since 2017.
By KEVIN McGILL and MATTHEW BROWN Associated Press
Oil companies offered a combined $264 million for drilling rights in the Gulf of Mexico on Wednesday in a sale mandated by last year's climate bill compromise.The auction was the first in the Gulf in more than a year and drew interest from industry giants including ExxonMobil, Shell and Chevron. It could further test the
The Biden administration is auctioning oil and gas leases across more than 114,000 square miles in the Gulf of Mexico in a sale mandated by last year's climate bill. Wednesday's
The auction was the first in the Gulf in more than a year and drew interest from companies like ExxonMobil, Shell and Chevron. The sale was mandated by last year’s climate bill compromise