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New EIA report boosts estimates of global recoverable shale oil resources 10-fold to 345 billion barrels

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Although the terms shale oil and tight oil are often used interchangeably in public discourse, shale formations are only a subset of all low permeability tight formations, which include sandstones and carbonates, as well as shales, as sources of tight oil production. US tight oil production increased from an average 0.2

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SEAT to introduce 500 km MEB-based EV, Leon PHEV in 2020

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The EV launch comes as part of a product offensive, in which SEAT will launch one new car every six months until 2020. SEAT, a member of the Volkswagen Group, will introduce its first fully electric vehicle in 2020. Built on the Volkswagen Group’s MEB platform, the new EV will feature a range of 500 km (311 miles). billion (US$4.1

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Sonangol, Maersk Oil and partners strike oil with their first deepwater pre-salt well offshore Angola

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There is substantial evaluation work ahead of us to determine whether the discovery is enough to invest further to get production going. Maersk Oil is an international oil and gas company with operated production of about 650,000 barrels of oil equivalent per day offshore Denmark, UK and Qatar, as well as onshore Kazakhstan and Algeria.

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Study reports non-US global shale gas recoverable resources of 5,760 Tcf; global shale gas boosts total recoverable natural gas resources by 40%

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Initial assessments of 48 shale gas basins containing almost 70 shale gas formations in 32 countries suggest that shale gas resources, which have recently provided a major boost to US natural gas production, are also available in other world regions. The US is second, with 862 Tcf, followed by Argentina with 774 Tcf and Mexico with 681 Tcf.

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

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While the IEA projects surplus production will begin to recede in 2H 2016, they are suffering now (and in any case, it is a projection). As we have pointed out, RBC Capital’s fragile five , Algeria, Libya, Nigeria, Iraq and Venezuela, the pain is intense.