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

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million metric ton per annum and a storage capacity of 200,000 cubic meters, as well as ancillary facilities to be located 60km from the shore of Akwa Ibom State, Nigeria. The FLNG facility will have a Liquified Natural Gas (LNG) nameplate production capacity of 1.2 —NJ Ayuk, the Executive Chairman of the AEC.

Nigeria 186
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China’s CNOOC to acquire Canada-based Nexen for $15.1B; offshore oil and gas, oil sands, and shale gas

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Oil sands: Nexen has an interest in more than 656,000 undeveloped acres (gross) in the Athabasca oil sands region, with net proved plus probable reserves of 1,350 million barrel and approximately 4 billion barrels of contingent recoverable oil sands resource. The acquisition thus expands CNOOC’s overseas businesses and resource base.

Oil-Sands 325
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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. It will help slow global warming while also saving scarce natural resources. Expand access to financing. Making better use of vented and flared gas is a tremendous opportunity.

Waste 260
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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. As we have pointed out, RBC Capital’s fragile five , Algeria, Libya, Nigeria, Iraq and Venezuela, the pain is intense. in Russian and Soviet history, Soviet economics, and International economics, and MBA in finance and marketing.

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Opinion: Is Russia Plotting To Bring Down OPEC?

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They include bans on financing for and the supply of critical equipment and technology to important Russian energy projects. Novatek and its partners Total and Chinese National Petroleum Company still lack $15 billion of the $27 billion needed to finance the Yamal LNG plant. In addition, mismanaged confrontation with the U.S.

Russia 150
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IISD Releases Five-Part Series of Reports on Removing Fossil Fuel Subsidies

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The International Institute for Sustainable Development’s Geneva-based Global Subsidies Initiative ( GSI ) has issued a five-part series of reports into how nations might remove fossil-fuel subsidies, on the eve of a meeting of G20 finance ministers in Washington this week. Some data exist on most types of fossil fuel subsidies.

Parts 207
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Equatorial Guinea, DRC to develop joint oil refinery and storage facilities

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These include the financing and construction of an oil refinery in the DRC to be owned jointly by both countries to meet regional demand for refined petroleum products, along with the construction of storage facilities for refined products. —Equatorial Guinea’s Minister Gabriel Mbaga Obiang Lima.