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Chevron greenlights $5.6B Mafumeira Sul project offshore Angola

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Associated natural gas will be commercialized through the Angola Liquefied Natural Gas (ALNG) plant in Soyo, Angola. Click to enlarge.

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Total and partners launch $16B ultra-deep Kaombo project offshore Angola

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Total and its joint venture partners have made the final investment decision to develop the ultra-deep offshore Kaombo project in Angola. Brie

New Major Oil Discovery in Angola Deep Offshore

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An Eni-led consortium announced a new major oil discovery in Block 15/06 in the deep offshore of Angola. The other partners in the JV are Sonangol Pesquisa e Produção (15%), SSI Fifteen Limited (20%), Total (15%), Falcon Oil Holding Angola SA (5%), Petrobras International Braspetro B.V. (5%)

BP closes out 2013 with deepwater finds in Gulf of Mexico and offshore Angola; new activity offshore Brazil

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BP said that 2013 had been its most successful year for new field exploration for almost a decade. Click to enlarge. Lontra. Click to enlarge. Lontra.

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

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Sociedade Nacional de Combustíveis de Angola Empresa Pública (Sonangol, E.P.), The result may be a further step towards our goal of building up a significant business in Angola. Maersk Oil entered Angola in June 2005, when it acquired a 50% interest and operatorship of Block 16. Sonangol E.P. is the block Concessionaire. Brief

Chevron announces $32.7B capital and exploratory budget for 2012; LNG and deepwater investments propel a step change

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Major capital investments include developments in Australia, the deepwater Gulf of Mexico, Nigeria, Angola and China. Angola: Angola LNG and development of Mafumeira Sul. Chevron Corporation announced a $32.7 billion capital and exploratory spending program for 2012. We continue to develop an unparalleled project queue. Brief

Statoil, Repsol Sinopec and Petrobras confirm high-impact deepwater discovery offshore Brazil

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This discovery increases our understanding of the pre-salt potential in the Campos Basin and improves our confidence in the recently acquired acreage position in the pre-salt Kwanza basin of Angola. Statoil, operator Repsol Sinopec, and Petrobras have confirmed a high-impact discovery in the Pão de Açúcar prospect offshore Brazil. Brief

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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The group has interests in LNG projects in Indonesia, Nigeria, Norway, Oman, Qatar, the United Arab Emirates, Yemen, Angola, and Russia. Location of the Ichthys project. Source: INPEX. Click to enlarge. INPEX is the operator—its first time in that role for a world-class project; Total holds a 24% interest. levels. million tons per year.

Total installs first subsea gas/liquid separation in 800 meters of water in Angolan deep offshore for heavy oil

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A number of technological challenges—including subsea gas/liquid separation, a first—are being met to bring the field on stream. Brief

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GE study finds 5% of worlds natural gas production wasted per year by flaring

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Elsewhere in West Africa, Angola, Equatorial Guinea, Gabon, Congo and Cameroon collectively waste about 10 billion cubic meters of natural gas every year. Gas-flaring countries and trends. Click to enlarge. This is an amount equivalent to 30% of consumption in the European Union and 23% in the United States. Advance local solutions.

Eni reports important new discovery offshore Congo

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Eni has been present in Sub-Saharan Africa since the 1960s and currently participates in exploration and production projects in Angola, Congo, Ghana, Gabon, Mozambique, Nigeria, Democratic Republic of Congo, Kenya and Liberia. miles) offshore Congo. billion barrels of oil and 30 billion cubic meters of gas in place. Brief

IEA: non-OPEC oil supply tops 43 mb/d for first time in decades; global demand to reach 92.4 mb/d in 2014

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Renewed disruptions in Libya and smaller drops in Nigeria, Kuwait, the United Arab Emirates and Venezuela more than offset higher output in Iran, Iraq and Angola. The International Energy Agency’s (IEA’s) Oil Market Report (OMR) for December raised the estimate of global oil demand for 2013 by 130,000 barrels per day (130 kb/d) to 91.2 Brie

IEA March Oil Market Report revises 2015 demand forecast upward

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mb/d, as losses in Libya and Iraq offset higher supply from Saudi Arabia, Iran and Angola. Having bottomed?out out in the second quarter of 2014, global oil demand growth has since steadily risen, with year?on?year year gains estimated at around 0.9 million barrels per day (mb/d) for the final quarter of last year and 1.0 mb/d year?on?year

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. Earlier post.). Brief

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Cobalt and Total announce significant North Platte deepwater Gulf of Mexico discovery

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an independent oil exploration and production company focusing on the deepwater US Gulf of Mexico and offshore Angola and Gabon, announced a significant oil discovery at its North Platte prospect on Garden Banks Block 959 in the deepwater Gulf of Mexico. Cobalt International Energy, Inc., In the Gulf of Mexico, Total also holds a 33.3% Brie

ExxonMobil Reserves Replacement in 2008 Was 103% of Production

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Proved additions were also made in a diverse range of countries including the United States, Norway, Nigeria, Angola and Australia. Additions to ExxonMobil’s proved reserves in 2008 totaled 1.5 billion oil-equivalent barrels—the bulk of it from Canadian oil sands—replacing 103% of production. billion oil-equivalent barrels.

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

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by Dalan McEndree for Oilprice.com. Saudi Policy: OPEC-centric or Self-Serving? Market” forces include many components. trillion of $3.05 trillion.

Opinion: Is Russia Plotting To Bring Down OPEC?

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Putin has aligned Russia with OPEC’s have-nots—the members lacking financial resources to withstand low crude prices for an extended period and that have objected to Saudi policies (Iran, Iraq, Angola, Nigeria, Libya, Algeria, Ecuador, and Venezuela)—against the haves (Saudi Arabia, Kuwait, the UAE, and Qatar). Live by Energy….