US oil and gasoline regulators have confirmed the Gulf of Mexico Lease Sale 259 will likely be held on 29 March, narrowly assembly the end-of-the-month deadline for a brand new offshore bid spherical that was included within the landmark Inflation Discount Act enacted final yr.
Professional-industry legislators had pushed for the lease sale to be included within the invoice in change for his or her assist of the general bundle, which included billions of {dollars} in incentives for renewable and low-carbon power tasks.
Lease Sale 259 will supply some 13,600 blocks masking greater than 73 million acres within the Western, Central and Jap planning areas of the US Gulf, the Bureau of Ocean Vitality Administration (BOEM) stated on Friday.
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