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The GAO recommends that Congress and the Interior Department revise the US oil and gas royalty system to better safeguard federal revenues, citing delays and inaccuracies in current verification processes that could cost billions.
While global oil inventories show excess supply, regional differences, especially offshore and in China stock builds—along with refining capacity limits and sanctions—create a nuanced market landscape that sustains price resilience amid oversupply.
Comet Ridge managing director Tor McCaul said the simplified ownership structure would allow the company “to ensure Mahalo does make a significant contribution to the east coast domestic gas market at a critical time.”
