BP Wins OK For First New Gulf Project Since Deepwater Horizon Tragedy

AI Summary

The Trump administration has approved BP's plan to develop its first new virgin oil field in the Gulf of Mexico since the Deepwater Horizon disaster, a multibillion-dollar investment in offshore crude production. The project marks a significant milestone for BP's Gulf operations and reflects the administration's pro-drilling energy policy stance. The approval is expected to yield substantial new crude oil output from the Gulf.

By Ari Natter Mar 13, 2026 (Bloomberg) –The Trump administration approved BP Plc’s plan to pump billions of dollars worth of crude from what will be the company’s first virgin field...