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EIA: US crude oil exports reached record levels in 2020 and remain high in 2021

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Despite volatility in global oil markets, US crude oil exports reached a record high in 2020, according to the US Energy Information Administration (EIA). As of 9 July 2021, US crude oil exports have averaged 3.00 The most recent four-week rolling average of US crude oil exports reached 3.51 million barrels per day (b/d).

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Oil Majors’ Costs Have Risen 66% Since 2011

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The oil majors reported poor earnings for the fourth quarter of last year, but many oil executives struck an optimistic tone about the road ahead. The collapse of oil prices forced the majors to slash spending on exploration, cut employees, defer projects, and look for efficiencies. by Nick Cunningham of Oilprice.com.

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Neste Oil nearly quadrupled use of certified raw materials in producing renewable fuel in 2011

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In 2011, 49% of the raw materials that Neste Oil used to produce its renewable fuel was certified—an increase of 28 percentage points on the figure for 2010, and nearly quadruple in terms of tonnage. Neste Oil aims to increase its usage of certified raw materials a further 10 percentage points on the 2011 figure during 2012.

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Imperial Oil ups costs of Kearl oil sands initial development 18% to $12.9B

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Imperial Oil has raised the expected final cost for the Kearl oil sands initial development to $12.9 billion, up 18% from the 2011 figure of $10.9 The Kearl expansion project, sanctioned in 2011 for $8.9 Start-up of the expansion project is planned in 2015. This is up 10% from the prior estimate of $6.20

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Opinion: OPEC Divorce And Self-Destruction Thanks To Saudi Oil Strategy?

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If You’re a Free Range Oil Producer. Despite low oil prices, Saudi Arabia is maintaining its investment in its oil industry. as the drop in oil prices over the last year has put a strain on the nation’s finances.". percent of net crude export revenues in 2015, as these revenues fall nearly 50 percent from 2014.

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Supply Crunch Or Oil Glut: Investment Banks Can’t Agree

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shale has thrown in another unknown in the mix of factors driving the price of oil. This year, shale output forecasts combine with OPEC’s production cuts, geopolitical factors, and unexpected outages to further complicate supply/demand and oil price forecasts by Wall Street’s major investment banks. In recent years, U.S. shale output.

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Neste Oil inaugurates Europe’s first pilot plant for producing microbial oil from waste and residues

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Neste Oil celebrated the official opening of Europe’s first pilot plant for producing microbial oil from waste and residues at its site in Porvoo, Finland. —Lars Peter Lindfors, Neste Oil’s Senior Vice President, Technology. Neste Oil announced in December 2011 that it was going to invest €8 million (US$10.4

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