The Virginia Department of Environmental Quality has approved construction of the Atlantic Coast Pipeline.
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The contract in Saudi Arabia is for the floatover, from Oman to Saudi Arabia, and installation of multiple platform topsides.
Report highlights need for flexibility to reduce market uncertainties and ensure security of supply.
Production in the area, which spans Texas and New Mexico, could reach 5.4 million boe per day by 2023, putting it ahead of every OPEC country except Saudi Arabia.
A report from ESAI Energy claims that the loss of Iranian exports will be offset by greater crude production from the US, Brazil, UK, Russia and the Arab Gulf in 2019.