As Big Oil producers start exploring again, the Gulf of Mexico is making a comeback with new projects from Chevron, Shell and BP

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The other factor in the Gulf is increased regulatory and policy support under the Trump administration, which will ramp up the number of offshore lease sales and has renamed it the Gulf of America within the U.S.

While new steel tariffs and subdued oil prices certainly don't help, new efficiencies are making offshore projects that were previously uneconomic more cost competitive with onshore again Rogers said, even if the numbers of deepwater producers will remain smaller.

The trend continued with Chevron bringing its big Ballymore project online April 21 that will ramp up to produce about 75,000 barrels of oil per day.

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Author / Journalist: Jordan Blum

Category: EconomyBusiness

Markets: United StatesMexico

Topics: Environment Big Oil Oil and gas

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-22 @ 14:02:55 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 733 words

Reading Time: 5 minutes read

Sentences: 6 lines

Sentence Length: 123 words per sentence (average)

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Copyright Owner: © Fortune

News ID: 28151487

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