Notes

Some Known Details About U.Sholds oil and gas lease sale in Gulf of Mexico after COP26


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<img class="featurable" style="max-height:300px;max-width:400px;" itemprop="image" src="https://cdn.hswstatic.com/gif/videos/320x240/7531.jpg" alt="III Lean Drilling™ – Multiple Projects – DE WARDT AND COMPANY"><span style="display:none" itemprop="caption">Louisiana oil and gas industry in danger after President Biden cancels 80-million-acre oil lease sale - Oil &amp; Gas 360</span>
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<p class="p__0">"These are clearly unpredictable times, with COVID-19 and the low oil cost," Celata said. "I'm happy, given whatever that has actually happened, at the size of the sale. The Gulf has a long future [for oil production]" Expectations for the sale were dim because of decreased international oil demand and low oil rates brought on by the COVID-19 pandemic.</p>
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<p class="p__1">"Back in the 2014 period, we used to have billion-dollar auctions," Yahya stated. "We're really scraping the bottom of the barrel here." There were 105 quotes positioned during the Wednesday auction a healing from March when only 84 were positioned, but below 165 in August of 2019. The highest bids were placed by subsidiaries of European oil business Royal Dutch Shell, Equinor and BP, all of which put more than $17 million in bids, with Shell spending the most on Wednesday at $28 million.</p>
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<p class="p__2">A handful of Texas energy business, consisting of a subsidiary of Murphy Oil, which just recently said it would move its headquarters to Houston from Arkansas, made smaller sized deals. BOP stacks for sale placed $5. 3 million in bids. Company authorities decreased to comment throughout a press conference on whether holding the lease sale was inspired by the incoming Biden administration's position on renting federal lands and waters for oil production.</p>
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<img class="featurable" style="max-height:300px;max-width:400px;" itemprop="image" src="https://www.thedriller.com/ext/resources/Issues2/2018/11-November/SS_020_1118ND_pic2_nd-rig-financing2-112018.jpg?t=1540390308&amp;width=900" alt="PGNiG will lease a drilling platform in the Norwegian Sea - VesselFinder"><span style="display:none" itemprop="caption">Federal Oil and Gas Leasing Needs Reform and Phaseout - NRDC</span>
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<img class="featurable" style="max-height:300px;max-width:400px;" itemprop="image" src="https://www.westana.com/wp-content/uploads/2018/08/Construction3-Slider-1024x439.jpg" alt="Houston offshore oil company wins two lease blocks in the U.SGulf of Mexico"><span style="display:none" itemprop="caption">As Oil Spill Cleanup Continues, Feds Prepare for Major Gulf Lease Sale - Audubon</span>
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<p class="p__3">This auction had actually been pressed back from August, authorities stated, due to COVID-19 (although Yahya said the delay was likely an effort to wait on oil rates to stabilize following the presidential election). "Without discussing proposed policy by incoming administration authorities, our lease blocks are provided many times," said Kate Mac, Gregor, deputy secretary of the Department of the Interior.</p>
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<p class="p__4">dependence on more carbon-intensive coal-fired power plants. "A cost effective and dependable energy supply is necessary to a strong America," Staples stated. Ecological groups criticized the lease sale as a last-ditch effort by the Trump administration to favor the oil and gas industry instead of moving to transition the U.S. to types of energy that are less carbon-intensive.</p>
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<p class="p__5">"This lease sale is putting fuel on the flames of climate modification," stated Emma Pabst, an international warming options promote with Environment Texas. "It's steadily burning through what little time we have actually delegated act." Disclosure: BP America,.</p>
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