The Bureau of Ocean Energy Management, Regulation and Enforcement, is expected to issue more oil and gas deep water drilling permits in the Gulf of Mexico. The drilling permits may be issued within the next week. In addition, some offshore leases that were effected by the five month drilling ban will be extended. Geopolitical risk has moved crude oil above the $100 a barrel mark and that may be a factor in the decision to issue more drilling permits.
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James Sutliff