US to be world's top hydrocarbon producer in 2013: EIA

04 October 2013 16:58  [Source: ICIS news]

HOUSTON (ICIS)--The US is estimated to be the world's top producer of petroleum and natural gas hydrocarbons in 2013, surpassing Russia and Saudi Arabia, the US Department of Energy's statistics arm said on Friday.

According to an estimate by the Energy Information Administration (EIA), combined US petroleum and natural gas hydrocarbon production could reach nearly 25m bbl/day of oil equivalent this year.

In terms of quadrillion British thermal units (Btu), total petroleum and natural gas hydrocarbon production estimates for the US and Russia for 2011 and 2012 were roughly equivalent, within 1 quadrillion Btu of one another, the EIA said. 

However, in 2013 the production estimates widen out, with the US expected to out-produce Russia by 5 quadrillion Btu, the EIA said.

Since 2008, US petroleum production increase by 7 quadrillion Btu, “with dramatic growth in Texas and North Dakota”, it added.

Natural gas production increased by 3 quadrillion Btu over the same period, with much of this growth coming from the eastern US.

Meanwhile, Russia and Saudi Arabia each increased their combined hydrocarbon output by about 1 quadrillion Btu over the past five years, the EIA said.

However, the EIA added that comparisons of petroleum and natural gas production across countries “are not always easy” as differences in energy content of crude oil, condensates and natural gas make accurate conversions difficult. In addition there are other measurement issues, such as the inclusion of biofuels and complications arising from differences in refining processes, the EIA said.

By: Stefan Baumgarten
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