Thursday, February 24, 2011

North Dakota Now Exceeds Libya's Oil Production

That may not be entirely accurate (that North Dakota now exceeds Libya's oil production) but I bet I'm not far off.

OGJ reports that:
Due to the continued violence sweeping the country, Libya’s oil production has decreased by 75% to around 400,000 b/d from the normal 1.6 million b/d, according to Paolo Scaroni, Eni SPA chief executive officer. 
I would assume that when the story was written some oil that was still in the pipeline has now been offloaded. With the continued conflict, production is dropping further. In addition, it's been my experience that folks try to put the best face on things, and there may be a bit of exaggeration that Libya is still producing even that much oil.

North Dakota is producing about 365,000 bopd. Production is being artificially restricted for any number of reasons, and it's very possible North Dakota is closer to the 400,000 bopd threshold than Libya is each day the conflict continues. 

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