December 20, 2024--Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--British multinational conglomerate INEOS (London) now expects to see U.S. spending top $3 billion this year following the acquisition of acreage in the Gulf of Mexico from China National Offshore Oil Corporation (CNOOC) (Beijing, China).

For undisclosed terms, INEOS Energy announced it acquired the business interests from the U.S. subsidiary of CNOOC, assets that are expected to bring global production for the British company to more than 90,000 barrels of oil equivalent per day (Boe/d).