Biggest Oil and Gas Boom Ever



The U.S. Is on the Threshold of the Biggest Oil and Gas Boom Ever



The U.S. is set to enjoy the biggest increase in oil and gas production the world has ever seen over the next few years, according to a new report out Tuesday.
The report from the International Energy Agency (IEA), a Paris-based think tank, is a thumping endorsement for the shale sector’s resilience in the face of a two-year attempt by Saudi Arabia and others to squeeze it. That’s already visible in U.S. government forecasts, which say U.S. crude oil production will rise from an average of 9.2 million barrels a day this year to 9.9 million barrels a day in 2018, a new all-time high beating a record set in 1970.
The IEA said the U.S. will account for 80% of the increase in global oil supply between now and 2025, as shale producers find ever more ways to pump oil profitably even at lower prices. By the late 2020s, the U.S. will become a net exporter of oil for the first time since the 1950s.
For more information go to 

Comments

Post a Comment

Popular posts from this blog

Exxon Mobil to invest $50 billion in US over 5 years, citing tax reform

Exxon Mobil to invest $50 billion in US over 5 years, citing tax reform Exxon Mobil on Monday said it plans to invest $50 billion in the United States over the next five years, saying its decision is partly due to corporate tax cuts. The investment will go towards increasing production in the Permian basin in western Texas and eastern New Mexico. Exxon announced $20 billion in spending for U.S. Gulf Coast manufacturing in March. Exxon Mobil , the world's largest publicly traded oil company, on Monday said it plans to invest $50 billion in the United States over the next five years. Darren Woods, chairman and CEO of Exxon, said in a blog post that the investment is partly due to recently passed corporate tax cuts. The announcement puts Exxon on the board with a number of other companies that have announced employee bonuses and investments following President  Donald Trump  and GOP lawmakers' tax overhaul. "These investments are underpinned by the unique s...
Read more

CNC Machine Shop located in South Houston, Texas

Image
NPN Machine Tools is a CNC Machine Shop located in South Houston, Texas. We are ISO 9001:2015 Certified & API Q1 Compliance company. Visit us at www.npnmachinetools.com . NPN Machine Tools has been doing business. Our 37,250 sq. ft. state of the art facility is located in Houston, TX. Our clients include both US and International companies. While the majority of our clients are in the Oil & Gas market segment, we have experience with a wide range of industries. Our primary goal is to build long term relationships with our clients by providing the best quality, service and pricing available in the market.
Read more