BP takes delivery of 6 new LNG tankers

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BP’s finance partners KMarin and ICBC Leasing are investing more than $1 billion in the tankers, which will join existing tankers in BP Shipping’s fleet in 2018 and 2019. BP also participates in LNG projects in Australia, UAE, Indonesia, Trinidad and Angola. BP is taking delivery of six new, state-of-the-art liquefied natural gas (LNG) tankers to support its expanding global LNG portfolio, and to respond to growing demand for lower-carbon energy sources around the world.

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GE study finds 5% of worlds natural gas production wasted per year by flaring

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Elsewhere in West Africa, Angola, Equatorial Guinea, Gabon, Congo and Cameroon collectively waste about 10 billion cubic meters of natural gas every year. Expand access to financing. Targeted technology funds and carbon partnerships also can facilitate projects, along with carbon financing and expanded eligibility for flare gas reduction within the United Nations Clean Development Mechanism. Gas-flaring countries and trends. Click to enlarge.

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

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Saudi Arabia and its Gulf Arab allies, except Qatar, have increased output, while the output of other OPEC members, other than Iraq and Angola, has either flat-lined or decreased, compared to 2014: Given Saudi determination to defend its export markets, it is interesting that the percentage gain in their crude exports exceeded the percentage gain in crude output in 1H 2015, by 2.7 by Dalan McEndree for Oilprice.com.

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Opinion: Is Russia Plotting To Bring Down OPEC?

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They include bans on financing for and the supply of critical equipment and technology to important Russian energy projects. Novatek and its partners Total and Chinese National Petroleum Company still lack $15 billion of the $27 billion needed to finance the Yamal LNG plant. If this is the case, Russia could step in, offer Iran financing, and force the Saudis to contemplate prices staying lower longer than they anticipated and therefore continuing pressure on their economy.