Mount Mckinley in Alaska
Alaska labours to change direction
Near-term output is expected to wane despite political backing for the Willow project
Alaska’s oil sector is struggling to reverse its steadily declining output. The state’s oil production fell to an average of 448,000bl/d in 2020, its lowest level in more than 40 years, according to the EIA. While the Covid-19 pandemic was a factor in this, the declining trend had been clear long before. Producers in Alaska remain confident in the state’s oil and gas potential, but there are various obstacles to realising it. And while some of these could be addressed, others may be more terminal. Like many other regions where oil development can be costly and challenging, Alaska has struggled to compete for investment with shale plays in the Lower 48 states. Crude prices have been strengthe
Also in this section
21 February 2025
While large-scale planned LNG schemes in sub-Saharan Africa have faced fresh problems, FLNG projects are stepping into that space
20 February 2025
Greater social mobility means increased global demand for refined fuels and petrochemical products, with Asia leading the way in the expansion of refining capacity
19 February 2025
The EU would do well to ease its gas storage requirements to avoid heavy purchase costs this summer, with the targets having created market distortion while giving sellers a significant advantage over buyers
18 February 2025
Deliveries to China decline by around 1m b/d from move to curb crude exports to Shandong port, putting Iran under further economic pressure
