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Chevron leveraging information technology to optimize thermal production of heavy oil with increased recovery and reduced costs

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Chevron’s focus on optimizing the thermal management of the Kern River field has resulted in a steady drop in the steam:oil ratio (barrels steam water per barrel oil), resulting in improved economics of the field even with slowly declining production. Data: California DOGGR. Click to enlarge. Source: Chevron. Click to enlarge.

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IHS Automotive forecasts 88.6M unit global light vehicle market in 2015; 2.4% growth

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According to the analysis, the current anti-trust campaign environment could alter the relationships among consumers, dealer and OEMs. The campaign is expected to have a long-lasting effect on premium parts/vehicle prices in China. Uncertainty lingers over Argentina, Brazil, Chile and Venezuela for 2015. million units.

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Researchers Sequence Genome of Sugarcane Ethanol Yeast; Potential for Cellulosic Ethanol

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Researchers from Duke University Medical Center, the University of North Carolina, and Brazil have sequenced the genome of PE-2, a strain of the yeast Saccharomyces cerevisiae that thrives on turning sugarcane into ethanol. When oil prices rose to new highs in the 1970s, Brazil invested in ethanol created from the its sugar cane crops.

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IEA World Energy Outlook 2013 sees CO2 emissions rising by 20% to 2035; oil use on upward trend

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China is about to become the largest oil-importing country and India becomes the largest importer of coal by the early 2020s. The Middle East becomes the world’s second-largest gas consumer by 2020 and third-largest oil consumer by 2030, redefining its role in global energy markets. Oil use grows, but in a narrowing set of markets.

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IHS Markit identifies 5 billion barrels of oil equivalent in short-cycle opportunities outside North America

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New energy research from business information provider IHS Markit has identified more than five billion barrels of oil equivalent (BOE) in numerous smaller, previously bypassed, or underperforming reservoirs outside North America that offer oil and gas operators a shorter-cycle path to production than new, frontier projects in undeveloped areas.

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Global investment in renewable power reached $270.2B in 2014, ~17% up from 2013; biofuel investment fell 8% to 10-year low

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Additional to China, Brazil ($7.6 Another challenge was, at first sight, the impact of the 50%-plus collapse in the oil price in the second half of last year. Oil and renewables do not directly compete for power investment dollars. Investment in developing countries, at $131.3 billion, up just 3% on the year.

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