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UTM Offshore signs FEED agreement for Nigeria’s first floating liquefied natural gas (FLNG) facility

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The penetration of FNLG in Africa, which started in Cameroon and expanded to Angola and Mozambique and now to Senegal, Mauritania and Nigeria, highlights Africa’s commitment to unlocking the full exploitation of its gas resources. UTM Offshore’s signing of the deal will be a game changer within Africa’s gas market.

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

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Deepwater Angola. Separately, Eni reported its ninth oil discovery in deepwater offshore Angola, in Block 15/06, increasing the resource base of the West Hub project. This discovery confirms Angola as one of the core countries in Eni’s organic growth strategy. Junin 5 block in the Orinoco. Source: Eni. Click to enlarge.

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GECF: more than a quarter of 2050 natural gas supply untapped

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Yet-to-find (YTF) resources will contribute to around 30% of the total production of natural gas worldwide by 2050, according to Yury Sentyurin, the Secretary General of the Gas Exporting Countries Forum (GECF).

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

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Although Nigeria has reduced flare gas emissions by 28% from 2000 levels, the country’s oil industry still wastes 15bcm of natural gas every year. Elsewhere in West Africa, Angola, Equatorial Guinea, Gabon, Congo and Cameroon collectively waste about 10 billion cubic meters of natural gas every year.

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Pensana plans $125M rare earth separation facility in England

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The Saltend plant would purify rare earth sulfates, which would be imported from the company’s Longonjo mine in Angola. Europe’s industries central to the green economy are almost totally dependent on magnets supplied from China and there are concerns that much of that supply is “unsustainably” produced.

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Opinion: Is Russia Plotting To Bring Down OPEC?

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Putin has highlighted on various occasions the contribution Russia’s mineral wealth, in particular oil and natural gas, must make for Russia to be able to sustain economic growth, promote industrial development, catch up with the developed economies, and modernize Russia’s military and military industry. Live by Energy….

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

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Of the non-Saudi, non-Gulf Arab ally OPEC members, only Libyan per capita resources exceed the average. Saudi and Gulf Arab OPEC members’ foreign currency reserves and sovereign wealth funds (SWF) comprise approximately 78 percent of total OPEC member holdings, $2.73 trillion of $3.05 billion vs. $1.6 billion) and $1 billion ($2.5