Oil firms won't resume drilling in Gulf: analyst


The uncertainty surrounding deepwater drilling in the Gulf of Mexico continues despite a ruling by a federal judge to lift the moratorium, analysts at Houston research firm Tudor Pickering Holt said Wednesday. Analysts said they expect no change in situation and no deepwater drilling resumption any time soon, as the Obama administration makes moves to keep the ban in place. “While legal victory is nice, oil/gas companies likely won’t resume activity and (the government) won’t issue permits until more legal certainty,” analysts noted.

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