US may announce end to deepwater oil drilling moratorium

12 October 2010 17:33  [Source: ICIS news]

HOUSTON (ICIS)--The Obama administration on Tuesday may announce plans to lift the US moratorium on deepwater oil drilling, according to news media reports.

US officials scheduled a news conference on deepwater drilling for 13:00 hours Washington time (17:00 GMT). The US in late September issued new rules intended to improve offshore safety.

Industry and regional officials had criticised the moratorium, saying it impeded US domestic energy development.

The ban was issued in the aftermath of the 20 April explosion of the BP-operated Deepwater Horizon offshore rig, which led to the largest oil spill in US Gulf history.

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By: Ben DuBose
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