PRINCETON, NJ, April 6 (Reuters) - U.S. Interior Secretary Ryan Zinke said on Friday that he sees little demand from oil and gas companies for new offshore drilling leases, which could pose problems for his plan to ramp up output from federal waters. The comments come just three months after Zinke had proposed opening nearly all U.S. ocean coastlines to drilling, in a bid to … [Read more...]
Tepid U.S. Offshore Oil and Gas Lease Sale a Setback for Trump
By Richard Valdmanis March 21 (Reuters) - Oil and gas drillers bid on only a tiny fraction of Gulf of Mexico acreage offered on Wednesday in the largest lease sale in American history, a setback to the Trump administration's efforts to rapidly pump up investment in the region. The Interior Department had offered up a record 77 million acres (31.2 million hectares) for … [Read more...]
U.S. States Slow Trump’s Offshore Drilling Expansion Plan
By Jessica Resnick-Ault HOUSTON, March 12 (Reuters) - The Trump administration's plan to broadly expand drilling in U.S. offshore waters is moving slowly due to opposition from coastal states and indifference from oil companies that have turned their focus to other opportunities. The administration hopes encouraging U.S. energy development outside of shale oilfields … [Read more...]
New York Asks for Exclusion from Trump’s Offshore Drilling Plan
March 9 (Reuters) - New York Governor Andrew Cuomo on Friday said he had formally asked for the state to be excluded from a federal offshore drilling program that he said would threaten its ocean resources and endanger efforts toward a cleaner energy economy. "New York State strongly opposes the Department of the Interior's National Outer Continental Shelf Oil and Gas … [Read more...]
U.S. Interior Committee Votes for Lowering Federal Offshore Oil and Gas Royalties
By Valerie Volcovici WASHINGTON, Feb 28 (Reuters) - A U.S. Department of the Interior committee voted on Wednesday to recommend to Secretary Ryan Zinke that the agency lower royalty rates for federal offshore oil and gas drilling to 12.5 percent from 18.75 percent through 2024, to spur more production. The agency's royalty policy committee, consisting of department … [Read more...]