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

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Yet-to-find (YTF) resources will contribute to around 30% of the total production of natural gas worldwide by 2050, according to Yury Sentyurin, the Secretary General of the Gas Exporting Countries Forum (GECF). It will see production rise across all regions of the world, with the exception of Europe, where it will decline by 70% by 2050.

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

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The FLNG facility will have a Liquified Natural Gas (LNG) nameplate production capacity of 1.2 The penetration of FNLG in Africa, which started in Cameroon and expanded to Angola and Mozambique and now to Senegal, Mauritania and Nigeria, highlights Africa’s commitment to unlocking the full exploitation of its gas resources.

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IEA March Oil Market Report revises 2015 demand forecast upward

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Global supply rose by 1.3 expected US crude supply, raising the 2015 North American outlook. expected US crude supply, raising the 2015 North American outlook. mb/d, as losses in Libya and Iraq offset higher supply from Saudi Arabia, Iran and Angola. related product draws. related product draws.

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ExxonMobil brings Kearl oil sands expansion online ahead of schedule; overall capacity doubling to 220K barrels per day

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Exxon Mobil has started production at its Kearl oil sands expansion project in Alberta, Canada ahead of schedule; the expansion is expected to double overall capacity to 220,000 barrels of bitumen a day, with the expansion itself ultimately expected to reach 110,000 barrels per day. Kearl will access approximately 4.6 Earlier post.).

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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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First production is expected at the end of 2016. In delivering this important project into production we will be securing vital long-term energy supply to Japan.Ichthys production volumes represent more than 10% of Japan’s LNG imports at current. Ichthys will provide a long-term stable supply of cleaner energy to.

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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: Is Russia Plotting To Bring Down OPEC?

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Russia supplied about 30 percent (146.6 The Saudi decision to let the market set prices and to pursue market share, has led to steep declines in crude and petroleum product prices. They include bans on financing for and the supply of critical equipment and technology to important Russian energy projects. mmbbl/day) in 2013.

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