No Data Yet
BP appointed Woodside Energy CEO Meg O'Neill as its new chief executive, causing BP's stock to rise 2.1% while Woodside's fell 1.28%.
Woodside Energy has secured new drilling rights in the Gulf of Mexico and extracted over 50 million barrels of oil from its Sangomar project in Senegal. The operational successes position Woodside for long-term growth, capitalizing on a broader wave of resource investment across West Africa.
Contrary to peak production theories, the Permian Basin is set to achieve a record 6.76 million barrels per day. This output is sustained by technological efficiency from supermajors, a trend underscored by BP's recent project milestones in the Gulf of Mexico.
BP, Shell, and Chevron led a $280 million Gulf of Mexico lease sale, the first since 2023. This signals renewed investment spurred by a lower federal royalty rate of 12.5%, marking a significant policy shift towards expanding U.S. offshore oil production.