It was billed as the largest oil auction in history, one expected to produce a windfall. But analysts say a high signing bonus scared away bidders.
Tag: Offshore Drilling and Exploration
Flood of Oil Is Coming, Complicating Efforts to Fight Global Warming
New supplies from Brazil, Canada, Guyana and Norway may add to a glut, posing a threat to producers in Saudi Arabia, Russia and the United States.
Indonesia Confronts, Belatedly, a Huge Oil Spill Near Jakarta
The true size of the July spill, which has left an inky stain across 12 miles of shoreline and upended livelihoods in a dozen villages, is still unknown.