Oil giants invested $163 million in a new US project in Alaska
Kyiv • UNN
Companies bid for 1.3 million acres of land during a record US auction. This is the first such sale of licenses in Alaska since 2019.
Major oil companies have submitted bids totaling approximately $163 million in a record-breaking US oil extraction auction. This concerns the sale of licenses for field development in Alaska, which is the first such auction since 2019. This is reported by Bloomberg, writes UNN.
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During the bidding, companies submitted hundreds of applications for plots totaling over 1.3 million acres.
The auction takes place against the backdrop of a sharp rise in oil prices and an energy crisis caused by the war in the Middle East. The Donald Trump administration is trying to increase domestic production to stabilize the market.
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Attracting investments in new fields should help reduce dependence on imports and compensate for disruptions in global supplies.
The results of today's sale are historic. It's the most lucrative sale we've ever had in the National Petroleum Reserve-Alaska, by almost every measure.
This auction has become one of the largest in recent years in terms of the volume of applications and the interest of companies. The activity of oil giants indicates expectations of a prolonged shortage of energy resources in the global market.