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Fisker reports more than $100M in revenue Jan-Apr 2012; more than $1B in funding since 2007

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The latest funding has lifted the overall financing beyond $1 billion since the start of the company in 2007. Al-Futtaim and its network of experienced retailers will allow Fisker to reach customers in the UAE, Saudi Arabia, Qatar, Oman, Bahrain, and Egypt. In Stealth mode, the Karma can accelerate from zero to 60 mph in 7.9

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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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Oil and Gas Journal (OGJ) pegged Venezuela’s 2011 reserves at 211 billion barrels, up from 99.4 According to OPEC figures, then, Venezuela has now surpassed Saudi Arabia in terms of oil reserves (296.5 billion barrel—third globally, behind Venezuela and Saudi Arabia. billion barrels the year before.

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BNEF: Oil price plunge to have only moderate impact on low-carbon electricity development, but likely to slow EV growth

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There could be a question mark over Saudi Arabia’s plan, announced in 2012, to invest $109bn in 41GW of solar power by 2032. Saudi Arabia burns up to 900,000 barrels of oil per day to generate over 50% of its electricity. Oil at $60/barrel could mean a natural gas price as much as $0.90/MMBtu

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US EIA reminder: Strait of Hormuz world’s most important oil chokepoint; almost 20% of oil traded worldwide

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Alternate routes to the Strait include: The 745-mile long Petroline, also known as the East-West Pipeline, across Saudi Arabia from Abqaiq to the Red Sea. The Abqaiq-Yanbu natural gas liquids pipeline, which runs parallel to the Petroline to the Red Sea, has a 290,000-bbl/d capacity. million-bbl/d Tapline to Lebanon.

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US Department of the Interior Offering Second Round of Oil Shale Research and Development Leases; Cuts Potential Commercialization Acreage 87.5%

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reduction from the potential commercialization are available through the terms of the first round of shale leasing in 2006 and 2007. In 2006 and 2007, the Bureau of Land Management (BLM) issued six RD&D oil shale leases on lands in Colorado and Utah for the purpose of developing new oil shale recovery technologies. Earlier post.)

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Alcoa splitting into two companies; expecting 2.4x increase in automotive revenues to $1.8B in 2018

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million metric tons, or 33%, of total smelting operating capacity since 2007. Alcoa has also invested in what it says is the most advanced, low-cost integrated aluminum complex in the world in Saudi Arabia, with the refinery and smelter now fully operational.

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Chevron leveraging information technology to optimize thermal production of heavy oil with increased recovery and reduced costs

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for the first quarter of 2011, according to data from the California Department of Oil, Gas & Geothermal Resources (DOGGR). Here, Chevron has reduced its steam:oil ratio (i.e., the steam required, represented by barrels of water, to produce one barrel of oil) from a peak of almost 8.5 in 1988 to just above 2.3 Source: Chevron.

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