By Yahoo. North Dakota’s oil production surged to a new record in July, putting the mid-western state on par with OPEC member Venezuela.
Home to the Bakken shale play, North Dakota pumped 1.27 million barrels a day in July, according to state figures released Friday. That’s roughly the same output as Venezuela during the month. The South American nation, whose oil industry has collapsed amid a prolonged financial crisis, saw production fall further in August to 1.24 million barrels a day — about half the level seen in early 2016, according to data from OPEC secondary sources. (Read more from “North Dakota Is Now Pumping as Much Crude as Venezuela” HERE)
U.S. Now the Largest Global Crude Oil Producer, EIA Says
By Workboat. The Energy Information Administration (EIA) estimated in their latest Short-Term Energy Outlook released last week that the U.S. is now the largest global crude oil producer, likely surpassing Russia and Saudi Arabia.
In February, U.S. crude oil production exceeded that of Saudi Arabia for the first time in more than two decades. In June and August, the U.S. surpassed Russia in crude oil production for the first time since February 1999.
The Department of Energy (DOE) also announced that on Sept. 6 a short-term order was issued to Freeport LNG to export up to 2.14 billion cu. ft. per day (Bcf/d) of natural gas as liquefied natural gas (LNG) over a two-year period to both free-trade and non-free trade agreement countries. This order authorizes Freeport LNG’s initial commissioning volumes and other exports pursuant to short-term contracts. Freeport LNG will be exporting the LNG from the Freeport LNG Liquefaction Project, which is currently under construction on Quintana Island near Freeport, Texas.
During this two-year authorization period, Freeport LNG will be able to export LNG to any country not prohibited by U.S. law or policy. The two-year export term will become effective on the date of the facility’s first export of LNG, currently projected to be in the third quarter of 2019. (Read more from “U.S. Now the Largest Global Crude Oil Producer, EIA Says” HERE)