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Benchmark: Saudi Arabia is building an EV battery supply chain

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Saudi Arabia’s ambitions for an EV supply chain are part of the diversification of the national economy away from oil, a project guided by the government’s Vision 2030 reform plan announced in 2016. Rabigh Refining & Petrochemical Company will supply feedstock in the form of decant oil.

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California oil producer applies for LCFS credits for producing crude oil using solar-generated power

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Under California’s Low Carbon Fuel Standard (LCFS), crude oil producers may generate credits for oil that has been produced using innovative methods and delivered to California refineries for processing. Seneca Resource Corporation (Seneca) has applied for LCFS credits for producing crude oil using solar generated electricity.

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$67 Oil Has All The Majors Converging in Argentina

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Argentina offers one of the few places on earth where oil companies are not suffering from the full force of the collapse in prices. Argentina regulates oil prices, a policy originally intended to insulate the public from the whims of the market, protecting people from triple-digit crude prices. per million Btu (MMBtu).

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Arctic oil on life support

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Oil companies have eyed the Arctic for years. With an estimated 90 billion barrels of oil lying north of the Arctic Circle, the circumpolar north is arguably the last corner of the globe that is still almost entirely unexplored. In December, Chevron suspended its drilling plans in Canada’s Arctic indefinitely.

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GlobalData: best performing wells in Permian break-even at as low as US$22 per barrel

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During the last three years, companies operating in the Permian basin have drilled much longer laterals and used substantially more complex well completion design in their newer wells with the aim of reaching higher initial production (IP) rates. —Svetlana Doh, Oil & Gas Analyst at GlobalData.

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Chevron announces $32.7B capital and exploratory budget for 2012; LNG and deepwater investments propel a step change

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Chevron Corporation announced a $32.7 Included in the 2012 program are $3 billion of planned expenditures by affiliates, which do not require cash outlays by Chevron. By 2017, we expect our net crude oil and natural gas production to grow about 20 percent to 3.3 First production is expected in 2016.

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Opinion: Oil Megaprojects Won’t Stay On The Shelf For Long

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One casualty of the oil price downturn could be the megaproject. For years, as conventional oil reserves depleted and became increasingly hard to find, oil companies ventured into far-flung locales to find new sources of production. The collapse of oil prices, however, could kill off the megaproject.

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