Exxon Sees North America Exporting 15% Gas, 5% Oil by 2040
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Exxon Mobil Corp., the largest U.S. oil company, said North America may be able to export 15 percent of its natural gas output and 5 percent of oil by 2040 as the region’s production surges and demand stalls.
North America probably will become a net energy exporter by about 2025, after importing 35 percent of its oil in 2010, Irving, Texas-based Exxon said in an energy outlook report released today. Asia Pacific countries may import almost 40 percent of their total energy needs by 2040 as demand increases.