Tag: oil production
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Trump’s Push for US Energy Prompts New Oil Drilling Plans
Background: A renewed push for offshore drilling The Trump administration moved forward with a plan to expand oil exploration off the coasts of California and Florida, marking a significant shift in U.S. energy policy after years of restrictions in sensitive areas. Officials say the initiative is aimed at boosting domestic oil production, lowering energy costs,…
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2026 Budget Aims to Reverse Oil Production Slide with $3.5B in New Investments
Overview: A clear pivot to revive oil output The government has outlined a proactive budget plan designed to halt a half-decade decline in the country’s oil production. Central to the strategy is more than US$3.5 billion in fresh investment commitments, aimed at accelerating exploration, development, and offshore drilling through the national oil company (NOC). Officials…