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BHP offboards its petroleum business in merger with Woodside; focus on “future-facing commodities”

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Anglo-Australian BHP Group is merging its oil and gas business with Woodside Petroleum Ltd. On 5 August, the BHP Board approved US$544 million in capital expenditure to execute the Shenzi North oil project in the US Gulf of Mexico. 2P reserves of more than 2 billion boe comprising 59% gas, and 41% liquids. Earlier post.).

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Lifecycle study finds LNG can reduce shipping GHG emissions by up to 21%

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A lifecycle study by consultancy thinkstep, commissioned by SEALNG and SGMF, has found that greenhouse gas (GHG) reductions of up to 21% are achievable now from LNG as a marine fuel, compared with current oil-based marine fuels, over the entire life-cycle from Well-to-Wake (WtW). Source: thinkstep.

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Devil in the Details: World Leaders Scramble To Salvage and Shape Copenhagens UNFCCC Climate Summit

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May, 2007 : An international team of researchers concluded that the ability of the Southern Ocean to absorb carbon dioxide had slowed by about 15% per decade since 1981 ( earlier post ), and projected that at the present rate of deterioration, it will have lost two-thirds of its ability to store carbon by 2050.

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