Even with the state's continued lower-for-longer oil pricing (June of 2015 was the last month during which Alaska North Slope crude
averaged more than $60 per barrel), overall production still managed to increase in 2016.
BP Cherry Point, which was built in 1971, was originally designed to run Alaska North Slope crude
oil, but can now run a variety of crude, including heavy Canadian oil.
On completion the vessels will transport Alaska North Slope crude
oil to destinations on the US West Coast.
Oil first started flowing June 20, 1977 and the first tanker loaded with Alaska North Slope crude
left Valdez August 1.
Starting in the third quarter of 2014, the price of a barrel of Alaska North Slope crude
began to decline, from a high in 2014 of just over $110 per barrel in June to less than $70 per barrel in December.
"In 2008, the average for Alaska North Slope crude
climbed to $98 per barrel, then peaked at $134 per barrel in June of that year," Fried writes.
Calcined petroleum coke, used to make aluminum, may be the most valuable product--by weight--made from Alaska North Slope crude
It should be noted, however, that Alaska North Slope crude
oil prices are more closely correlated with global market prices rather than local production levels.
Although the terms "maintenance and operations" sound as if they could refer to the building's cleaning and grounds crew, when it comes to the pipeline this department is the pivotal point for virtually everything the company says it stands for: providing a safe, environmentally responsible, cost-effective and reliable means to move liquid hydrocarbons to market, reflecting its belief in the company's dedication to the integrity of TAPS and to providing a reliable supply of Alaska North Slope crude
That's due to a falling price for Alaska North Slope crude
, calculated at $96 per barrel for 2008, dropping to $65.70 for 2009 and estimated at $58.29 for 2010.
No (Alaska North Slope crude
) has left the West Coast in several years."