Ups and downs in Alaska

Project-specific squabble and the Biden administration’s chillier attitude to oil and gas collide with high prices and oil supply security concerns

Alaska’s oil producers have seen some of the largest proposed projects run into obstacles, while more restrictive federal policy on new drilling has also created headwinds. But, at the same time, higher oil prices and keener appetite for non-Russian supplies should be expected to boost prospects for new production in the state. The path towards starting up major new oil projects is not proving straightforward. US superindie ConocoPhillips’ Willow, which is anticipated to produce over 160,000bl/d, is undergoing a new regulatory review. This comes after a federal judge voided the environmental approval for the project, located in the National Petroleum Reserve-Alaska (NPR-A), in August 2021. M

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