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ICCT study examines current & projected use of heavy fuel oil in Arctic shipping; growth in BC emissions points to need for policies

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As described in Comer, Olmer, and Mao (2016), HFO poses a substantial threat to the Arctic environment, not only because HFO is extremely difficult to clean up once spilled, but also because burning HFO emits BC, a potent pollutant that accelerates climate change.

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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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First production is expected in 2016. This planned spending includes initial appraisal of new acreage captured over the past two years, including Liberia, China and various international shale gas plays. The project is approximately one-third complete and has awarded contracts worth more than $25 billion.

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Eni reports important new discovery offshore Congo

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Eni, which holds 65% of the Marine XII Block, quickly activated with the joint venture’s partners New Age (25%) and the national company SNPC (Société Nationale des Pétroles du Congo, 10%) the studies to ensure a rapid commercial development of these significant hydrocarbon reserves with the aim of launching a first oil production from 2016.

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