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Chevron announces “significant” oil discovery in deepwater Gulf of Mexico

Green Car Congress

Chevron Corporation announced a significant oil discovery at the Anchor prospect in the deepwater US Gulf of Mexico. 2 encountered oil pay in multiple Lower Tertiary Wilcox Sands. Appraisal drilling will begin in 2015. Anchor is located approximately 140 miles (225 km) off the coast of Louisiana.

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Sasol bails on $13-$15B US GTL project, divests from Canadian shale; no new greenfield GTL

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In January 2015 Sasol announced it was delaying a final investment decision on the proposed project near Lake Charles, Louisiana to conserve cash in response to lower oil prices. Sasol has also decided not to invest in any additional crude oil refining capacity. —Stephen Cornell.

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Shell’s Cardamom development starts production; second major 2014 start-up in deep-water Gulf of Mexico

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Oil from the Cardamom subsea development (100% Shell) is piped through Shell’s Auger platform. When at full production of 50,000 barrels of oil equivalent a day (boe/d), Auger’s total production capacity will increase to 130,000 boe/d. The Cardamom reservoir sits beneath thick layers of salt in rock more than four miles (6.4

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Denbury to Acquire Encore for $4.5B Transaction; Creates One of the Largest Crude Oil Upstream North American Independents and One of the Largest CO2 EOR Platforms

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The transaction positions Denbury as one of the largest crude oil-focused, independent North American exploration and production companies. Encore has one of the larger acreage positions in the prolific Bakken oil shale with over 300,000 net acres. (the “Company”) and will be headquartered in Plano, Texas.

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Alon USA receives go ahead for Bakersfield, CA rail terminal and refinery project; Bakken light crude

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Construction of the rail facility is expected to be completed by the end of 2015. Current products include gas oil, gasoline, diesel fuel, and petroleum coke. Alon intends to resume operation of several existing process units under existing permits, including a return to crude oil refining. Background. Alon USA Energy, Inc.,

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EIA: US refineries running at record levels; gasoline demand; exports up

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Lower crude oil prices and strong demand for petroleum products, primarily gasoline, both in the United States and globally, have led to favorable margins that encourage refinery investment and high refinery runs. The record high gross inputs reflect both higher refinery capacity and higher utilization rates.

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UPS announces renewable diesel agreements with Neste, REG and Solazyme; up to 46M gallons over next 3 years

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Bio-based feedstocks from fats, plant oils and waste residues are converted to renewable diesel using advanced refining technologies. UPS has been using renewable fuels for more than a year in trucks operating in Texas and Louisiana. —Mark Wallace, UPS senior vice president, global engineering and sustainability.

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