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Eni and PDVSA launch major heavy-oil projects in Orinoco Belt in Venezuela

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Italy-based oil and gas major Eni and PDVSA (Petróleos de Venezuela), the state-owned oil and gas corporation of the Bolivarian Republic of Venezuela, signed contracts for the creation of two joint ventures (Empresas Mixtas, Mixed Enterprises). Eni in the Bolivarian Republic of Venezuela. Map of Orinoco’s Faja area. Schenk C.J.,

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IHS Markit: Canadian oil sands production to be ~1M barrels higher by 2030 but with lower annual growth; boosted by deterioration in Venezuela

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The shift towards more modest year-on-year gains had been expected to occur earlier, with IHS Markit anticipating that 2019 would be the pivot point. Despite the forecast for slower rates of growth, there is still upside potential in the coming decade for the Canadian oil sands, Birn said.

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Eni report: global oil reserves and oil production up in 2018 due to US

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OPEC registered zero growth as production in the Arab Gulf countries were offset by losses in Iran and Venezuela due to geopolitical issues. Source: Eni World Oil Review 2019. also rose in Brazil and Norway. 2018 recorded an overall growth in oil production of 2.5 WTI, the US light crude, covers 60% of global growth.

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PDVSA to boost Orinoco heavy oil production

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Petroleos de Venezuela, S.A. million barrels per day of heavy crude, ranging in gravity from 16 to 32 degrees API, by 2019. Figuera said the new projects, being developed by PDVSA under several joint ventures with foreign partners, will allow an increase in production of 2.02

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GECF: more than a quarter of 2050 natural gas supply untapped

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average economic growth rate between 2000 and 2019, continuously expanding domestic gas production, attracting investors, and enhancing knowledge and technologies exchange. As a holder of the fourth-largest volume of gas reserves worldwide, Turkmenistan has been unlocking the potential of natural gas, leading to an 11.5%

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Mad Power thoughts

EV Info

The task of balancing the grid and maintaining electrical frequency has grown dangerously the more reliant on wind power we have become – as demonstrated by the widespread power cuts of August 2019. The cost of grid management has soared to nearly £2billion a year in the last two decades. Frack, baby Frack.

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Opinion: Oil Market ShowdownCan Russia Outlast The Saudis?

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Venezuela, an OPEC member, has even proposed an emergency summit meeting. While the sharp decline in crude prices has saved crude consuming nations hundreds of billions of dollars, the loss in revenues has caused crude exporting countries intense economic and financial pain.

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