BP and Chevron top the list of bidders at a small US Gulf of Mexico gas and oil auction
According to a U.S. government livestreamed auction, BP's single bid accounted for almost half of the total. The U.S. Bureau of Ocean Energy Management conducted the sale. It was a far less successful one than the previous auction three months earlier. Donald Trump's administration prioritizes regular lease sales and plans to have 30 in the area by 2040. The auction was won by a $21 million bid from BP on a block located in Green Canyon. Chevron was also a high bidder, as were Shell, LLOG Exploration, Anadarko, Woodside Energy and Anadarko.
Gulf of Mexico Oil and Gas Auction yields Far Fewer Bids Than First Trump Sale
According to a document posted on the government's website, the second auction of oil and natural gas leases in the Gulf of Mexico by the Trump administration in three months drew far less interest from the industry than the one held in December. Oil prices are at four-year highs due to the U.S.'s war against Iran, which has disrupted crude oil flows around the world. According to the document of pre-sale statistics, 25 of the 15,000 blocks that the US Bureau of Ocean Energy Management offered received bids.
Oil companies reject Trump Administration's Alaska Offshore Auction
The Trump administration sold more than 400,000 acres (406,876 hectares) of land in Alaska's Cook Inlet on Wednesday, but no oil and gas drillers showed up. They refused to make a bid.The One Big Beautiful Bill Act of U.S. president Donald Trump, which was signed into law in 2017, mandates six Alaska offshore gas and oil auctions through 2032.Trump has sought ways to increase domestic oil and gas production, including in Alaska, where the industry has seen a decline in recent decades.
US auctions oil and gas drilling in Alaska's Cook Inlet
The Trump Administration will on Wednesday 'offer over 1 million acres (404,686 ha) of Alaska's Cook Inlet?to?oil & gas explorers. This is a key test to see if the industry wants to invest in this region. This is the first auction of six Alaskan offshore oil and natural gas auctions that will be held by?U.S. through 2032. The One Big Beautiful Bill Act was signed by President Donald Trump last year. The U.S. Bureau of Ocean Energy Management officials will begin reading bids on their website at 10:00 a.m. Alaska time (1900 GMT).
US auctions first Gulf of Mexico Oil and Gas since 2023
On Wednesday, the Trump administration will conduct the first government sale of oil-and-gas drilling rights in Gulf of Mexico?since 2023. This is a test of the industry's appetite?for offshore acres at a moment when the United States?is trying to increase domestic fossil fuel production. The auction is one of the 30 required by President Donald Trump's tax-cut and spending bill that he signed in July. His administration's plans are a major departure from those of his predecessor President Joe Biden.
Environmentalists sue Gulf of Mexico Oil Auction to Stop it
On Tuesday, environmental groups sued the Trump Administration for its decision to proceed with the planned December 10, offshore oil and natural gas lease sale that covered 80 million acres (32 millions hectares) of the Gulf of Mexico. Why it's Important The lawsuit filed in U.S. District Court for the District of Columbia challenges a large sale that is aligned with President Donald Trump’s policy of maximising domestic oil and natural gas development. This is just the latest of a series of recent lawsuits over offshore drilling which have resulted in victories for environmentalists.
Trump proposes Alaska oil sale by 2026, finalizes sale of US Gulf oil leases
It was announced on Friday that the Trump administration would hold an auction to drill oil and gas in the U.S. Gulf of Mexico next month. They have also proposed another one in a waterway located in southern Alaska. About 80 million acres will be available for lease in the U.S. Gulf of Mexico. President Donald Trump calls it the Gulf of America. The sale on December 10 will be the beginning of 30 sales that will occur in the Gulf region until 2040. This was included in Trump’s tax law, which he signed back in July.
Judge rules that Trump administration may reconsider SouthCoast wind approval
The U.S. District Court ruled Tuesday that the Interior Department of President Donald Trump may review the Biden Administration's approval for the SouthCoast project off the coasts of Massachusetts. The order returns the matter to Interior's Bureau of Ocean Energy Management for a re-examination of its decision, as part of Trump’s review of U.S. Offshore Wind Leasing and Permitting. Interior said that it had identified problems with the environmental analysis of the project and a review may result in the SouthCoast permit being withdrawn.
Orsted shares rise 12% after US Judge lifts Trump's ban on Revolution Wind project
Orsted shares rose up to 12% on early Tuesday trade after a U.S. Federal Judge ruled it could resume work on the nearly completed Revolution Wind project that was halted last month by U.S. president Donald Trump's government. Trump has been repeatedly critical of wind farms, calling them ugly, unreliable, and expensive. He has urged federal agencies to curtail the development of wind power. Orsted however has a major win. Orsted, an offshore wind energy developer, has lost $2 million per day since August 22 when the U.S.
US Judge rules Trump can't block Rhode Island offshore Wind Project
A federal judge ruled that the Danish offshore wind developer Orsted could restart the work on the almost finished Revolution Wind project, off the coasts of Rhode Island. The project was halted by President Donald Trump’s administration last month. Trump's efforts to stop offshore wind expansion in U.S. waterways have been hampered by the ruling. Orsted has won a tangible victory, as it is losing $2 million per day since August 22, when the project was stopped. Revolution Wind is located about 15 miles from the coast.
US court weighs Trump's halt to Rhode Island offshore wind project
On Monday, a federal judge will review a request from Danish offshore wind developer Orsted for the restart of work on the almost finished Revolution Wind project that was halted by President Donald Trump’s administration last month. Orsted, along with its joint venture partner Skyborn Renewables, has asked Judge Royce Lamberth at the U.S. District Court of Washington for a preliminary injunction to be granted in a suit they filed earlier in the month against the U.S. Interior Department's order to stop work. The Revolution Wind project is located 15 miles from the coast of Rhode Island.
Developer says US stoppage of Rhode Island offshore wind is unjustified
According to court documents filed Thursday, the owners of Revolution Wind claimed that the reasons given by the Trump administration for stopping the work on their Rhode Island offshore windfarm were "factually inaccurate" and revealed only after the government had ordered the project to be halted. The filing at the U.S. District Court for the District of Columbia was part of a suit filed earlier this month against a stop-work notice issued by the Department of the Interior to Revolution Wind in August. U.S.
US asks federal courts to cancel permit for Maryland off-shore wind farm
According to court documents filed Friday, the Trump administration asked a federal district judge to overturn the Interior Department’s approval for a wind farm to be built off the coast Maryland in 2024. Attorneys for the agency claimed that Interior's Bureau of Ocean Energy Management underestimated the impact of the project on search and rescue and the potential harm it could cause to commercial fishing. This is just the latest of a number of actions taken by the administration to stymie the development of offshore wind farms and other clean energy sources.
Orsted's Revolution Wind files suit against the Trump administration for project cancellation
A court filing on Thursday showed that the Revolution Wind joint-venture of Orsted, the Danish wind farm developer, has sued the Trump administration over its decision to stop construction of the project near Rhode Island. Last month, the U.S. Bureau of Ocean Energy Management gave Revolution Wind an order to stop work. The project was already 80% completed with 45 of 65 turbines and all offshore foundations installed. Revolution Wind, which is a joint venture of Orsted and Skyborn Renewables that has a 50/50 split, reported spending $5 billion so far on the project.
New England officials claim that the US's decision to halt a wind project is a mystery.
Business and government leaders in New England claimed that the Trump administration's decision to stop work on a nearly finished wind farm near the coast of Rhode Island is a threat to grid reliability and jobs, and it defies any explanation. Connecticut and Rhode Island state leaders demanded information from the Trump administration on why the order was issued late Friday to stop work on the Revolution Wind project. The Bureau of Ocean Energy Management, in its letter to Orsted project developer, cited concerns about national security that were not specified.
Orsted Shares Drop as US Halts Offshore Rhode Island Wind Farm
Shares in Orsted plunged 17% on Monday after the U.S. halted the Danish company's Revolution Wind project off Rhode Island amid President Donald Trump's pushback on renewable energy investments.Orsted, the world's biggest offshore wind farm developer, has already faced mounting challenges, including rising costs, higher interest rates, and supply chain disruptions, leading to delays and cancellations in the U.S. and other markets. The company's market value has plummeted 87% since its January 2021 peak.The U.S.
Orsted cash plan is at risk after Trump blocks US Wind Project
Analysts said that Orsted's plans to raise capital are at risk after a U.S. court order to stop construction on a nearly completed project. The Danish group's stock price may also be under pressure Monday due to the U.S. ruling. Orsted announced on Monday that it would continue with its planned rights issue, despite an order from the United States. The company is owned by the Danish government which holds 50.1%. The statement said that the planned rights issue was sized to strengthen Orsted's capital to execute its business plans…
Wind opponents sue Trump Administration to block New York wind projects
Fishing companies, as well as offshore wind opponents, filed a suit on Tuesday to challenge the Trump administration’s decision to reverse its course and allow construction on Empire Wind to resume. Empire Wind is a $5 billion project for a wind farm off New York’s coast. Protect Our Coast New Jersey and Clean Ocean Action along with ACK for Whales, 12 fishing industry participants, filed a lawsuit in Trenton federal court, New Jersey to reinstate a stop-work order Interior Secretary Doug Burgum had issued in April, halting the construction of Equinor’s wind project.
South Carolina's Republican Governor asks that Trump's offshore drilling plan exclude South Carolina
The Republican Governor of South Carolina appealed Monday to the Trump Administration to exclude his state from an impending plan for offshore oil and natural gas production. The letter was sent as the Administration wrapped up a 45 day request for public input on a federal offshore leasing program. This could include new zones, such as in the Arctic or elsewhere, to maximize domestic energy production. The current plan for five years, which was developed by former president Joe Biden's administration, only includes three sales of rights to develop oil and gas in the Gulf of Mexico.
US to sell Gulf of Mexico oil and Gas Leases in December
According to the U.S. Bureau of Ocean Energy Management, the Trump administration proposes to sell oil and gas drilling on 80 million acres of the Gulf of Mexico by December 10. Donald Trump has changed the name of the Gulf of Mexico to the Gulf of America. This sale is the first in a five-year drilling program, launched by Biden during the period of the auction. BOEM, an Interior Department division, said that the administration planned to offer approximately 15,000 unleased offshore blocks, located between 3 and 231 miles off shore.