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YPF and Dow to partner on shale gas in Vaca Muerte; first shale gas project in Argentina

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Argentina state-owned energy company YPF and Dow Chemical have signed a memorandum of understanding jointly to develop shale gas in the Vaca Muerta. In December, YPF and Bridas, an Argentina-based oil and gas company 50% owned by China National Offshore Oil Corporation, agreed to invest $1.5 Earlier post.).

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EIA ups total shale oil resource estimate by 13% to 419B barrels, shale gas by 4% to 7576 Tcf

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The US Energy Information Administration (EIA) continues to expand its assessment of technically recoverable shale oil and shale natural gas resources around the world. Each of the countries has an existing oil and natural gas industry with infrastructure connecting the basins to global markets. Bcf/d from 2005 to 2014.

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Petrobras oil & natural gas output up 4% in Brazil in June to 2.4M boed

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Petrobras’ oil and natural gas output in Brazil was 2,407,366 barrels of oil equivalent per day (boed) in June, 4% more than the 2,315,117 barrels produced a year earlier and a 2% increase over May 2011. Figuring in the exclusive production of oil from domestic fields, the company had an increase of 2.2% This was 6.9%

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Exxon Mobil Acquiring XTO Energy in $41B Deal; Enhances US Position in Unconventional Natural Gas and Oil

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The agreement, which is subject to XTO stockholder approval and regulatory clearance, will enhance ExxonMobil’s position in the development of unconventional natural gas and oil resources. XTO is a US producer engaged in the acquisition, exploitation and development of quality, long-lived oil and natural gas properties in the United States.

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Petrobras Announces New Discovery in the Deepwater Caratinga Field; Production Up 3.2% in April

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Petrobras announced the discovery of two new light oil accumulations (29° API) in reservoirs in the post- and pre-salt layer in deep Campos Basin waters. The recoverable volumes are estimated at about 105 million barrels of oil equivalent there. The exclusive oil production in domestic fields was 2,032,620 barrels per day, 2.9%

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Opinion: Busting The “Canadian Bakken” Myth

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The financial pages of Canadian newspapers have been full of headlines lately announcing the potential of two large shale oil fields in the Northwest Territories said to contain enough oil to rival the Bakken Formation of North Dakota and Montana. billion barrels. enthused the Financial Post.

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PwC analysis finds meeting 2 C warming target would require “unprecedented and sustained” reductions over four decades

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Examining the role of shale gas, PwC’s report suggests that at current rates of consumption, replacing 10% of global oil and coal consumption with gas could deliver emissions savings of around 3% a year (1gt CO 2 e per annum). Other G20 (Australia, Korea, EU, South Africa, Saudi Arabia, Argentina).