New report says production levels will soon reach 50 quadrillion British thermal units

Oct 9, 2013 13:19 GMT  ·  By

The Energy Information Administration (EIA) in the United States has announced that, all things considered, the country is to be the world's largest oil and gas producer in 2013.

“The U.S. Energy Information Administration estimates that the United States will be the world's top producer of petroleum and natural gas hydrocarbons in 2013, surpassing Russia and Saudi Arabia,” EIA writes in a press release.

The Administration explains that, by the end of this year, the US is expected to reach production levels of 50 quadrillion British thermal units (Btu), which is basically the equivalent of 25 million barrels of oil being produced on a daily basis.

According to this scenario, the country's production levels in 2013 will surpass Russia's by about 5 quadrillion Btu.

“Total petroleum and natural gas hydrocarbon production estimates for the United States and Russia for 2011 and 2012 were roughly equivalent – within 1 quadrillion Btu of one another.”

“In 2013, however, the production estimates widen out, with the United States expected to outproduce Russia by 5 quadrillion Btu,” EIA says.

By the looks of it, US petroleum production has increased by about 7 quadrillion Btu since 2008 until present day, chiefly due to developments in Texas and North Dakota.

Natural gas production, on the other hand, has upped by 3 quadrillion Btu, courtesy of extensive fracking operations carried out especially in the country's eastern region.

By comparison, Russia and Saudi Arabia have only increased their combined hydrocarbon output by about 1 quadrillion Btu each.

“Comparisons of petroleum and natural gas production across countries are not always easy. Differences in energy content of crude oil, condensates, and natural gas produced throughout these countries make accurate conversions difficult. There are also questions regarding the inclusion of biofuels and refinery gain in the calculations,” EIA nonetheless wishes to stress.

Check out the graphic next to this article to get a better idea of how the energy industry in the US has been steadily evolving over these past few years.