The Bureau of Ocean Energy Management (BOEM) from the Interior Department has released a list of entities that are not allowed to bid together in oil and gas lease sales on the Outer Continental Shelf between May 1, 2025, and October 31, 2025. These restrictions are part of BOEM's regulations to prevent joint bidding, in accordance with the Energy Policy and Conservation Act of 1975. The list includes groups with companies like BP, Chevron, Eni, Equinor, ExxonMobil, Shell, and Total. Additionally, BOEM may disqualify bids from entities that have previously produced over 1.6 million barrels of oil, natural gas, and natural gas liquids daily, even if they aren't on the restricted list.
Simple Explanation
The government made a rule that says certain big companies can't team up to buy spots to look for oil and gas in the ocean from May to October 2025, so they play fair. They also might not let other really big companies, who take lots of oil and gas already, buy spots even if they're not on the list.