Chevron was the auction's biggest spender with $47.1 million
U.S. oil majors Exxon Mobil Corp and Chevron Corp were among the top buyers at a federal auction of oil leases in the U.S. Gulf of Mexico on Wednesday that generated more than US$190 million - the highest since 2019.
The auction was a boon for federal coffers, but a potential setback for the climate policies of U.S. President Joe Biden, whose administration tried to suspend federal lease sales to fight global warming before a court forced them to proceed.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
