The U.S. Bureau of Ocean Energy Management (BOEM) has conducted Gulf of Mexico Lease Sale 259, which resulted in $263,801,783 in high bids for 313 tracts spanning 1.6 million acres in the federal waters of the Gulf of Mexico.
A U.S. government auction of oil and gas drilling rights in the Gulf of Mexico generated $263.8 million in high bids, the most of any sale in the region for years and the first test of demand for investment since the Russian invasion of Ukraine.
Fossil fuel energy companies looking to extract oil and natural gas from U.S. waters in the Gulf of Mexico got a boost on Wednesday, as they secured access to 1.6 million acres of waters offered at auction.
A new Chinese refinery is pushing the price of heavy crude oil higher after a prolonged period of depression.
Following a 10% slump in two weeks, oil prices jumped by 5% on Monday as concerns about the banking sector eased and 400,000 bpd of crude exports from Kurdistan were shut in.
The world’s largest crude oil exporter, Saudi Arabia, is betting big on the growing market for crude China, as Saudi oil giant Aramco is strengthening its downstream presence and crude supply market share in the world’s top importer.
The Ghana Upstream Petroleum Chamber is a non-profit upstream petroleum organisation which aims to achieve long term success of the upstream petroleum industry in Ghana.