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UTM Offshore signs FEED agreement for Nigeria’s first floating liquefied natural gas (FLNG) facility

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UTM Offshore signed an agreement for the Front-End Engineering Design (FEED) for Nigeria’s first Floating Liquefied Natural Gas (FLNG) facility with engineering firms KBR, JGC Corporation and Technip Energies. The FLNG facility will have a Liquified Natural Gas (LNG) nameplate production capacity of 1.2

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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 We believe these investments will yield significant production growth and reward our shareholders for years to come. 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. million barrels per day.

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INPEX and Total launch the $34B Ichthys offshore Australia LNG Project; entire 8.5 Mt/y LNG output already sold for 15 years

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Japan-based INPEX Corporation and its joint venture partner Total have made the final investment decision (FID) for the Ichthys liquefied natural gas (LNG) project in Australia, representing an investment of US$34 billion dollars. First production is expected at the end of 2016. Location of the Ichthys project. Source: INPEX.

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Pensana plans $125M rare earth separation facility in England

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Targeted production is around 12,500 annualized tonnes of rare earth oxides, including 4,500 tonnes of magnet metal rare earth oxides (NdPr), which would represent approximately 5% of 2025 projected world demand. The Saltend plant would purify rare earth sulfates, which would be imported from the company’s Longonjo mine in Angola.

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Opinion: Saudis Could Face An Open Revolt At Next OPEC Meeting

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The UAE includes data for three SWF funds only: Abu Dhabi Investment Authority ($773 billion), Abu Dhabi Investment Council ($110 billion), and Investment Corporation of Dubai ($183 billion)). While the IEA projects surplus production will begin to recede in 2H 2016, they are suffering now (and in any case, it is a projection).

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ExxonMobil Reserves Replacement in 2008 Was 103% of Production

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billion oil-equivalent barrels—the bulk of it from Canadian oil sands—replacing 103% of production. Excluding the impact of asset sales, reserves additions replaced 110% of production. These additions assume the long-term pricing basis that the corporation uses to make its investment decisions, rather than single-day, year-end pricing.

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