News from the Alaska State Legislature, the Office of Senator Giessel
For Immediate Release: July 07, 2016

Alaska Oil Production Rises for First Time in 14 Years

Giessel_stamp.jpgSenator Cathy Giessel   Web Site    Send Email

ANCHORAGE – Today Senator Cathy Giessel (R-East Anchorage and Anchorage Hillside), Chair of the Senate Resources Committee, responded to news that Alaska's North Slope oil production has gained ground for the first time since 2002.

"Increasing production after 14 straight declining years is the best news we have heard in a long time."  said Senator Giessel.

oil-production-2006-2016.jpgData compiled by the Division of Oil and Gas pegs fiscal year 2016 production growth at 3.22%, the first increase in production in 14 years. This is only the second year in over 25 years that the decline of oil production on the North Slope has been offset by new oil. 

"This shows the wisdom of Alaskan voters who agreed to uphold the oil tax reform that lawmakers worked so hard to craft," Senator Giessel said, "Alaska has no control on the world price of oil. The one tool we have in our kit is to encourage investment and get more barrels out of the ground. In spite of hostile market conditions, new investments are being made in Alaska and now we have more oil coming down the Trans Alaska Pipeline.  This year's growth and recent new discovery announcements give me real hope for the future of the state's breadbasket."

The State Division of Oil and Gas has compiled monthly oil production figures by Fiscal Year (July - June) from 1970 to 2006.   The complete dataset is available for download here.

For additional information please contact Kari Nore at (907) 269-0181.

Share this on Twitter Tweet icon-facebook.png Share

News & Videos more >

Senator John Coghill

Statement from Sen. Coghill on Passing of his Father, Jack Coghill

JUNEAU – John Bruce “Jack” Coghill passed away this morning at the age of 93 of natural causes.  Full Story >>

Senator Bert Stedman

Co-Chairs of Senate Finance Comment on Governor’s Budget Proposal

JUNEAU – Today, the co-chairs of the Senate Finance Committee, Senator Bert Stedman (R-Sitka) and Senator Natasha von Imhof (R-Anchorage), commented on Governor Michael J....  Full Story >>

Senator Click Bishop

Bishop introduces bill to re-establish education head tax

With many in Juneau anticipating budget cuts Wednesday from the governor, a legislator has introduced a bill to establish a $30 education head tax to help raise money for school...  Full Story >>

Senator David Wilson

Statement from Sen. Wilson on Dunleavy Admin’s API Decision

JUNEAU –Today, Senator David Wilson (R-Wasilla), chairman of the Senate Health and Social Services Committee, released the following statement in response to the Dunleavy...  Full Story >>

Senator Cathy Giessel

Senate Majority Focused on Crime, Budget & Protecting Permanent Fund

JUNEAU – The 31st Alaska Legislature convened today, and with it a new 14-member Senate Majority laid out its vision for Alaska: A government that responsibly budgets, prioritizes...  Full Story >>

Senator Peter Micciche

Sen. Micciche Bill Closes “Schneider Loopholes” for Sexual Assault

JUNEAU — Today, Senator Peter Micciche (R-Soldotna) filed Senate Bill 12 to eliminate the “Schneider Loopholes” in Alaska’s criminal code. The case of Justin Schneider, the man...  Full Story >>

Senator Cathy Giessel

Senate Majority Welcomes Significant Step toward ANWR Development

ANCHORAGE – Members of the Alaska Senate Majority today welcomed a significant step toward opening the 1002 area of the Arctic National Wildlife Refuge (ANWR) for responsible resource...  Full Story >>

Senator Bert Stedman

Senate Finance Co-Chairs Comment on Preliminary Budget

ANCHORAGE – Today, co-chairs of the Senate Finance Committee, Senator Bert Stedman (R-Sitka) and Senator Natasha von Imhof (R-Anchorage), commented on Governor Mike Dunleavy’s...  Full Story >>

Majority Press Office

Senate Majority Announces Team, Caucus Agreement

ANCHORAGE – The Alaska Senate Majority today announced its complete team for the 31st Alaska Legislature, which begins Jan. 15.  Full Story >>

Senator Cathy Giessel

New Alaska Senate Majority Announced

ANCHORAGE – Members of the Alaska Senate today formed a new majority organization including all 13 Republican senators.  Full Story >>

Find your Senator full map