Data on oil production in the United States have been released
Oil production in the United States for the week which ended on June 21, remained at the level of the previous week at 13.2 million barrels per day, the weekly review of the Energy Information Administration of the Ministry of Energy of the country. On average, over the past four weeks, oil production in the United States amounted to 13.175 million barrels per day, according to the review.
The management reports accurate production data in a monthly report two months apart. According to the final data, in March, oil production in the United States amounted to 13.18 million barrels per day. According to preliminary data, in April the figure was 13.15 million barrels per day, in May - 13.2 million. For the whole of last year, production was estimated at an average of 12.93 million barrels per day.
On June 11, the US Department of Energy raised the forecast of average oil production in the country by the end of this year by 40 thousand barrels per day, to 13.24 million barrels per day, for 2025 - lowered by 20 thousand barrels per day, to 13.71 million.
Energy
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SOCAR is actively working to transform itself from an exclusively oil and gas company into a universal energy corporation that includes renewable energy sources, Rovshan Najaf, President of the State Oil Company of Azerbaijan (SOCAR), said yesterday during Baku Investment Day (Baku ID 2024).
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The State Oil Company of Azerbaijan (SOCAR) completed 2023 with satisfactory results, despite the weakening of global economic activity, geopolitical processes, volatility in energy markets, as well as a sharp drop in prices for crude oil and natural gas.
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On June 25, the State Oil Company of the Republic of Azerbaijan (SOCAR) and the leading German energy company VNG signed a Memorandum of Understanding to expand cooperation in the field of natural gas and renewable energy sources. According to SOCAR, this Memorandum of Understanding will contribute to the development of sustainable energy solutions and international cooperation. The document provides for the exchange of experience in exploring the possibilities of natural gas supplies and the use of gas infrastructure. According to the Memorandum, the parties will explore the possibilities of cooperation on projects related to the transition to renewable energy and decarbonized gases.
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In January-May, gas production in Russia increased by 9.1% compared to the same period last year – to 254 bcm, according to “Rosstat” data. The indicator for May decreased by 4% compared to April, continuing the decline for the second month. At the same time, by May last year, gas production increased by 10.9%. Associated petroleum gas production increased by 3.3% in the first five months of this year to 45.3 bcm. In May, compared with April, it increased by 2.5%, and compared with May last year, it increased by 5.2%.
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