US Announces Oil, Gas Drilling Auction Plans for June

US Announces Oil, Gas Drilling Auction Plans for June

The US plans to offer oil and gas firms drilling rights of federal acreage. These drilling rights are set to be in eight states at least and will be offered in June, Reuters reported.

The announcement was made after the US Department of Interior declared resuming oil and gas lease sales on public lands.

Last year, after taking office, President Joe Biden stopped drilling auctions saying that the drilling programs’ impact on climate change and value to taxpayers should be studied.

However, in June 2021, a federal judge ordered resuming lease sales.

The Interior Department announced a week ago proceeding with the sales, yet with diminished acreage as well as steeper royalties for companies.

Sarah Samir 2746 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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