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IEA: key oil trends 2018

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Total OECD annual production of crude oil, natural gas liquids (NGL), and refinery feedstocks increased by 10.3% in 2018 compared to 2017, reaching a record total monthly production of over 100 million tons at the beginning of the year and remaining above this for almost all of 2018, according to the IEA.

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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 first volume of the report, the World Oil Review, is devoted to oil reserves, supply, demand, trade and prices with a special focus on crude oil quality and on refining industry.

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Opinion: Oil Market ShowdownCan Russia Outlast The Saudis?

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November 27, oil consuming countries will celebrate the first anniversary of the Saudi decision to let market forces determine prices. Both, it would seem, have incentive to do so, as each has lost over $100 billion in crude revenues in 2015—and Russia bears the extra burden of U.S. by Dalan McEndree for Oilprice.com. and $65.65

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IHS Markit: 10 MMb/d of oil production cuts coming

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IHS Markit Crude Oil Markets service expects up to 10 MMb/d of world oil production will be cut or shut-in from April to June 2020 as oil storage fills up and output from financially strapped companies begins to fall. If oil cannot be sold or stored, it cannot be produced. Something has to give. And it will.

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The Saudi Dilemma: To Cut Or Not To Cut

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million barrels daily, including from Russia, to reverse the free fall of oil prices. A recent report from Capital Economics said Saudi Arabia has its problems but it could withstand lower oil prices without feeling too much of a pinch. Saudi Arabia cannot afford another slump in oil prices,” he warns. “It Kemp agrees.

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SCF Group partners with Shell on LNG-fueled Aframax crude oil tankers

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Russia-based SCF Group (Sovcomflot) recently signed an agreement with Shell Western LNG B.V. for the supply of liquefied natural gas (LNG) to fuel the first Aframax crude oil tankers in the world to be powered by LNG. Each LNG-fuelled tanker will have an ice class 1A hull enabling year-round export operations from the Russian Baltic.

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KIT and Wintershall Dea collaborating to develop industrial-scale methane pyrolysis for CO2-free production of hydrogen

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In 2018, the research of KIT and the Institute for Advanced Sustainability Studies e.V. relating to methane pyrolysis was granted the Innovation Award by the German Gas Industry and additionally won the audience award of the ERDGAS 2018 Zukunftswerkstatt, an event staged by the Zukunft ERDGAS industry initiative. —Prof Wetzel.

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