US States Slow Trump Offshore Oil Drilling Expansion Plan

US States Slow Trump Offshore Oil Drilling Expansion Plan
The Trump administration's plan to broadly expand drilling in US offshore waters is moving slowly.

They "will have to compete with the other drilling we have in the world," said Robert Ryan, Chevron's vice president of global exploration. "We just don't know, most of those areas haven't been evaluated yet."

Royal Dutch Shell, which is active in federal waters in the Gulf of Mexico, said it was encouraged by the additional Gulf acreage that is opening under existing lease sales. Costs, including a recent 25 percent tariff on imported steel, would be an issue.

"We know what we like here," said Wael Sawan, Shell's executive vice president of deepwater. "We're encouraged by some of the elements but then some things like steel tariffs raise a question mark," he said.

(Reporting By Jessica Resnick-Ault, additional reporting by Ron Bousso Editing by Gary McWilliams and David Gregorio)


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