The United States’ shale oil production is expected to grow from its current capacity of 8.4 million barrels per day (bpd) to 9.6 million bpd by 2019, US Deputy Secretary of Energy, Daniel Poneman, said on Tuesday.
Poneman, who was in Abu Dhabi to give a lecture titled, “Energy and Security in a Changing World,” discussed cooperation between the US and the UAE, saying that both countries remain strong partners.
“The US is and will remain deeply involved in this region and in the UAE. The UAE has long played a stabilising role in the region. It is a significant supplier [of oil] … and its production levels are very solid and strong,” he said.
The deputy energy secretary said that the United States’ increasing shale oil production has allowed the country to become a net exporter after years of importing energy.
Source: GulfNews.com, 2014