Shale gas producers from the US refused to increase supplies to the EU
[ad_1]
U.S. shale gas and shale oil companies have warned they will not be able to ramp up supplies to Europe this winter. Their words are quoted by the newspaper Financial Times. According to the newspaper, the capacity for the extraction of these resources in the United States is already at the limit.
“It doesn’t look like the US can pump more… Help will not come. Not from the gas producers, not from the oil producers,” said Wil Wen Lo, head of the private equity group at Quantum Energy Partners. Scott Sheffield, chief executive of the oil company Pioneer Natural Resources (one of the largest oil producers in the United States) adheres to the same position. “We’re not opening new rigs and I don’t see anyone else doing it,” he said.
Shale development has allowed the US to become one of the world’s largest oil exporters. Before the coronavirus pandemic, the US produced 13 million b/d, or 10% of global supply. Against the background of the pandemic, production volumes decreased, and only last week they returned to the level of 12.1 million b/d.
On September 14, the international energy agency reported that oil sales from Russia could fall by almost 20% after the price caps are set. After that, Brent oil prices rose by %1 to $94 per barrel. By the end of 2022, the United States plans to increase oil production by 1.1 million bpd. U.S. Energy Secretary urged Energy Secretary Jennifer Granholm to increase production.
However, according to the executive director of the investment company Kimmeridge Energy, Ben Dell, quoted by the newspaper, entrepreneurs investing in oil and gas companies do not want to increase production of raw materials, preferring a policy of “less production, more profit.” The head of the private drilling company Greenlake Energy Ventures, Matt Gallagher, noted that the increase in production by American companies will not change the situation in the near future.
Read more about the situation with oil on the world market in the material “There is enough oil for everyone”.
[ad_2]
Source link
