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EIA: US crude oil production will increase to new records in 2023 and 2024

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In its January 2023 Short-Term Energy Outlook , the US Energy Information Administration (EIA) forecasts that crude oil production in the United States will average 12.4 In 2022, US crude oil production averaged an estimated 11.9 In 2022, US crude oil production averaged an estimated 11.9

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OMV says it will stop oil and gas production by 2050 in transformation to net-zero

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Austria-based OMV, an international, integrated oil, gas and chemicals company, announced its intention to become a net-zero (Scope 1, 2 and 3) company by no later than 2050. OMV’s plan foresees emission reduction targets of 30% in operations (Scope 1 & 2) and a 20% reduction target in the product portfolio (Scope 3) for 2030.

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68% of primary energy imports to US in 2018 was crude oil; 48% of US energy exports were petroleum products

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The majority (69%) of primary energy imported into the United States in 2018 was crude oil, with petroleum products and natural gas also having significant shares, according to the US Energy Information Administration (EIA). Energy Information Administration, Monthly Energy Review, December 2019, Tables 1.4a

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EIA expects increased US crude oil production, with continued high petroleum prices in 2022

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The US Energy Information Administration (EIA) forecasts that US crude oil production will average 11.9 million barrels per day in 2023, which would surpass the record average production of 12.3 Solar and wind are the only energy sources that will increase their share of US electricity generation this summer.

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ExxonMobil announces 6th oil discovery offshore Guyana with Ranger-1; Guyana may move from non-producer to regional powerhouse

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Biden bans import of Russian oil, gas, coal with immediate effect; Putin to block exports of “certain products and raw materials”

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President Joe Biden issued an executive order banning the importation from Russia of crude oil; petroleum; petroleum fuels, oils, and products of their distillation; liquefied natural gas; coal; and coal products. The ban is effective immediately; the US is blocking any new purchases of Russian energy.

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EIA: proved reserves of US natural gas established a new record; oil reserves increased by 16% at the end of 2021

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In 2021, proved reserves of natural gas set a new record in the United States, and proved reserves of crude oil and lease condensate increased, but not quite to pre-pandemic levels, according to the US Energy Information Administration (EIA). Production of existing reserves. Thorough appraisals of existing fields.

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