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Chevron greenlights $5.6B Mafumeira Sul project offshore Angola

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Chevron Corporation’s Cabinda Gulf Oil Company Limited subsidiary will proceed with the development of the Mafumeira Sul project located offshore Angola. Once online in 2015, the project will build to a production capacity of 110,000 barrels of crude oil and 10,000 barrels liquefied petroleum gas per day. Click to enlarge.

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IEA March Oil Market Report revises 2015 demand forecast upward

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IEA raised its forecast of demand growth for all of 2015 by 75 kb/d to 1.0 expected US crude supply, raising the 2015 North American outlook. mb/d, as losses in Libya and Iraq offset higher supply from Saudi Arabia, Iran and Angola. mb/d for the first half of 2015, down from a sharp 2.2 year gains estimated at around 0.9

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Eni announces first production from the Junin-5 giant heavy oil field in Venezuela

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PDVSA and Eni plan to increase production to approximately 15,000 barrels a day by the year end and subsequently to 75,000 barrels a day by early 2015, through the drilling of approximately 180 wells. Deepwater Angola. This discovery confirms Angola as one of the core countries in Eni’s organic growth strategy.

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Opinion: Saudis Could Face An Open Revolt At Next OPEC Meeting

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CME Brent oil futures project continuity: as of August 18, 2015, CME Brent futures projected the price remaining below $60/bbl until June 2017. Interestingly, also, the Saudis increased their share of OPEC average daily output in the first half of 2015 over 2014 average daily volume—and their share of average daily global output.

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ExxonMobil brings Kearl oil sands expansion online ahead of schedule; overall capacity doubling to 220K barrels per day

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The volume increase is supported by the ramp up of several projects completed in 2014 and the expected startup of seven major developments in 2015, including the Kearl expansion, Hadrian South in the Gulf of Mexico, Banyu Urip in Indonesia and deepwater expansion projects at Erha in Nigeria and Kizomba in Angola.

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INPEX and Total launch the $34B Ichthys offshore Australia LNG Project; entire 8.5 Mt/y LNG output already sold for 15 years

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First LNG will be delivered in 2015. The group has interests in LNG projects in Indonesia, Nigeria, Norway, Oman, Qatar, the United Arab Emirates, Yemen, Angola, and Russia. million tons per year. Total is a leading producer in the LNG sector, with positions along the LNG chain.

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New Award Recognizes IEEE Society’s Work in DEI

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Wendy Van Moer in 2015 became the first female editor in chief of the IEEE Transactions on Instrumentation and Measurement. Since the initiative was launched, the society established its first African chapter, in South Africa , followed by one in Angola. A chapter in Ghana is in the process of forming.

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