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Eni report: global oil reserves and oil production up in 2018 due to US

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Eni has released the 18 th edition of the World Oil, Gas and Renewables Review , the annual statistics report on oil, natural gas and renewables sources. The second volume, the World Gas and Renewables Review , focused on natural gas and renewables sources (solar, wind and biofuels), will be published in autumn.

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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). Senturin made his remarks during the 25 th Oil & Gas of Turkmenistan Conference. —Secretary General Sentyurin.

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IEA: Global oil discoveries and new projects fell to historic lows in 2016 while US shale surged; “two-speed” market

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Global oil discoveries fell to a record low in 2016 as companies continued to cut spending and conventional oil projects sanctioned were at the lowest level in more than 70 years, according to the International Energy Agency, which warned that both trends could continue this year. With global demand expected to grow by 1.2

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PDVSA and PetroChina move ahead with 400,000 barrel per day oil refinery in China; processing Orinoco heavy and extra-heavy crude

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Petróleos de Venezuela SA (PDVSA) and PetroChina recently signed the Project for Development and Establishment of a joint venture to realize the future development of the Nanhai refinery. Oil and Gas Journal (OGJ) pegged Venezuela’s 2011 reserves at 211 billion barrels, up from 99.4 billion barrels the year before.

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Opinion: How Much Longer Can OPEC Hold Out?

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With the huge reduction in its revenues and growing discomfort among its members such as Venezuela, Libya and Nigeria over its current production levels, is OPEC really getting weaker? Containing some of the largest proven oil and gas reserves in the world, Venezuela is one of the founding members of OPEC. Nigeria’s dilemma.

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National oil companies hold top spots in Energy Intelligence’s ranking of top oil firms

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State-owned oil companies are retaining their dominant position in the world petroleum industry according to Energy Intelligence ’s annual ranking of the world’s top 50 oil and gas companies, which was published today in Petroleum Intelligence Weekly (PIW). The Top 50 companies produce 75% of global oil output. ExxonMobil, US.

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Rosneft and PDVSA sign tentative MoU for JV to develop heavy crude reserves in Venezuela’s Orinoco belt

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Rosneft, the leader of Russia’s petroleum industry and majority owned (75.6%) by the state, and PDVSA, Venezuela’s state-owned oil and gas company, have signed a tentative memorandum of understanding (MoU) to set up a joint venture to develop heavy crude oil reserves in Venezuela as part of the Carabobo-2 project.

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