Who owns the oil in Alaska?
Daniel Santos
Updated on January 15, 2026
| Prudhoe Bay oil field | |
|---|---|
| Operator | BP |
| Partners | BP, ExxonMobil, ConocoPhillips |
| Field history | |
| Discovery | March 12, 1968 by ARCO and Exxon’s Prudhoe Bay State #1 well |
What kind of gas does Alaska produce?
About 78% of Alaska’s natural gas consumption occurs in the natural gas and crude oil production process. The electric power sector accounts for 9% of the state’s natural gas consumption, and more than two-fifths of Alaska’s utility-scale electricity is generated by natural gas.
What company is drilling oil in Alaska?
Oil Drilling Operations in Alaska’s North Slope – Doyon Drilling, Inc.
Does Alaska refine its own oil?
“Much of Alaska’s crude oil remains in state and is refined into commercial and residential product used across the state,” says Cameron Hunt, who is the vice president of and manages the Andeavor Kenai Refinery. “All of the products created by our refineries are essential to Alaskans.
How much oil is left in Alaska?
Rystad Energy estimates Alaska’s remaining recoverable oil reserves to be 23.3 billion barrels of oil and condensates.
How much of the US oil comes from Alaska?
Alaska’s oil and gas industry has produced more than 18 billion barrels of oil and six billion cubic feet of natural gas, accounting for an average of 20 percent of the entire nation’s domestic production (1980 – 2000).
How much is gas in Alaska?
State Gas Price Averages
| State | Regular | Premium |
|---|---|---|
| Alaska | $3.678 | $4.000 |
| Alabama | $2.849 | $3.511 |
| Arkansas | $2.879 | $3.463 |
| Arizona | $3.124 | $3.652 |
Why is gas expensive in Alaska?
There are plenty of other factors at play for why gas prices remain steadily high here in Alaska, according to Persily. But at the end of the day, it’s a matter of supply-and-demand economics — Alaska supply is low while demand remains relatively high, driving up the overall price of gasoline.
Why oil drilling in Alaska is bad?
Oil development would bring roads, airstrips, heavy machinery, noise and pollution. This would damage the refuge’s fragile tundra ecosystem and disrupt age-old migration and denning patterns for caribou, polar bears and other animals.
Are they going to drill oil in the Arctic?
The Arctic is no place for oil and gas drilling, and this site is not far from one of America’s last wild places—the Arctic National Wildlife Refuge.
Why are oil and gas important to Alaska?
Alaska runs on oil. From providing jobs to contributing directly and indirectly to economies statewide, oil and gas companies are crucial to Alaska’s fiscal well-being.
Who is the Alaska Oil and Gas Association?
The Alaska Oil and Gas Association (AOGA) is a professional trade association whose mission is to foster the long-term viability of the oil and gas industry for the benefit of all Alaskans. 2021 REGISTRATION NOW OPEN! We look forward to to gathering once again for our next premier industry event.
What was the oil production in Alaska in 2020?
Crude oil production in Alaska averaged 448,000 barrels per day (b/d) in 2020, the lowest level of production since 1976. Last year’s production was over 75% less than the state’s peak production of more than 2 million b/d in 1988.
How did Hilcorp help the natural gas shortage in Alaska?
By boosting production at fields acquired from Chevron Corp. a decade ago, Hilcorp staved off a natural gas shortage that had threatened Alaskans with sky-high bills.
