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Story summary
- Under U.S. President Donald Trump, the Bureau of Ocean Energy Management will hold the first Gulf of Mexico oil and gas lease sale since 2023 on December 10, 2025, livestreamed.
- BOEM is offering 81.2 million acres at a royalty rate of 12.5%, down from 16.66%.
- Twenty-six companies submitted 219 bids on 1.02 million acres as crude prices fell about 20% this year, with results expected shortly after.
