Norway’s Statoil ASA won a two-day auction to develop an offshore wind farm in New York, with a bid more than double recent prices for oil and natural gas leases in the Gulf of Mexico.
The oil producer prevailed with a record $42.5 million bid, the U.S. Interior Department said in a statement on its website Dec. 16.
The department’s Bureau of Ocean Energy Management awarded leases in August for oil and gas companies for $18 million. While prices for fossil-fuel leases have tumbled along with oil prices in recent years, the high bid for the New York site shows ...
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