On December 10, 2025, under the One Big Beautiful Bill Act, the Bureau of Ocean Energy Management held its inaugural Gulf of America offshore oil and gas lease sale with over $300 million bids and marked the beginning of an aggressive 30-lease program with reduced royalty rates of just 12.5 percent through 2040.
Harbour Energy's $3.2 billion purchase of LLOG marks its entrance into U.S. Gulf deepwater assets, while Shell and INEOS Energy announce their first oil discovery in the Gulf of America. CNOOC launches production from its Xijiang 24 wellhead platform while contracts continue flowing to TechnipFMC, Subsea7, and other companies from Mozambique Australia and beyond -- signalling robust offshore momentum amid expanding Caribbean logistics networks.
US offshore drilling policy took an unexpectedly radical turn in November 2025 when President Trump began implementing his expansive leasing agenda. Regulators unveiled their draft 2026-2031 offshore program and confirmed multiple Gulf lease sales under One Big Beautiful Bill Act; moreover they also proposed opening Pacific federal waters to oil and gas exploration for the first time since 1974.
Offshore energy developments ventured apace over the last week as the US Interior Department announced its most sweeping leasing plan to date. Two lease sales were performed in Alaska’s Cook inlet. Meanwhile, given their proximity to Europe, Equinor announced two gas and condensate discoveries it the North Sea which bolsters the regional security of supply.
On November 20, the Trump administration announced the largest ever offshore oil and gas leasing program, proposing 34 possible lease sales across 1.27 billion acres. Floating offshore wind continues its international march, with 25 MW installed across the globe by 2025, and 2.5GW expected operational by 2030.
During these five days, a whole host of naval developments took place that suggested an accelerating trend toward modernization of many of the world’s sea forces; Turkey trials the LEVENT missile system for naval air defence functions, South Korea unveils the latest FFX Batch III frigate, to be ROKS Jeonnam, and Brazil commissioned its third Riachuelo-class submarine, Admiral Karam, as tangible proof of changing priorities and broadened aspirations.