U.S. says crude oil reserves reached highest level since 1976April 11, 2014 - 17:59 AMT PanARMENIAN.Net - Crude oil reserves in the U.S. grew for the fourth straight year, reaching the highest level since 1976, according to an Energy Department report released Thursday, April 10, according to the Associated Press. The report says reserves grew 4.5 billion barrels, or 15 percent, to 33 billion barrels in 2012. It was the biggest one-year jump since 1970. The U.S. consumed 6.9 billion barrels of crude-based fuels last year. Drillers have learned how to unlock oil trapped in rock formations once thought too expensive to tap, using horizontal drilling and hydraulic fracturing, a process known as fracking. North Dakota and Texas, home to the two most prolific of these formations, accounted for the vast majority of the increase. The oil reserves reported represent crude that can likely be produced in the future with current technology and prices. Related links: Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | U.S. warns Georgia not to side with Moscow against the west Georgia has been warned by the U.S. not to become an adversary of the west by falling back in line with Moscow. Power of One Dram sums up two-year program with Teach for Armenia Idram Junior also joined the companies during the visit, bringing with it a fascinating intellectual game for children Moscow slams EU mission in Armenia for “provocative activity” The EU mission is doing more and more against Armenia’s neighbors Russia, Azerbaijan and Iran, Mikhail Galuzin said. Yerevan Mayor to travel to Paris on May 15-19 The official delegation headed by Yerevan Mayor Tigran Avinyan will travel to Paris from May 15 to 19. |