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Devon Energy and BP Enter Into $7.0B Property Sales Agreement and Oil Sands Joint Venture

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Devon Energy Corporation has entered into agreements to sell all of its assets in the deepwater Gulf of Mexico, Brazil and Azerbaijan to BP for $7.0 Devon and BP will also form a heavy oil joint venture to develop BP’s Kirby oil sands leases in Alberta, Canada. billion in cash.

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State Department issues Draft Supplemental Environmental Impact Statement on Keystone XL Pipeline: climate change impacts

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The US Department of State (DOS) has released its Draft Supplemental Environmental Impact Statement (SEIS) in response to TransCanada’s May 2012 application for the Keystone XL pipeline that would run from Canada’s oils sands in Alberta to Nebraska. The pipeline would primarily transport crude oil from the WCSB and Bakken regions.

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US State Department to hold 6 additional public meetings on Keystone XL oil sands pipeline

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Keystone XL is a proposed 1,700-mile oil pipeline from the US-Canadian border in Montana, through Cushing, Oklahoma, to refineries on the US Gulf Coast. The US Department of State plans to hold six additional public meetings as part of the permit review process for the proposed Keystone XL pipeline. Earlier post.).

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State Department releases final environmental impact statement on Keystone XL Pipeline Project; analysis of GHG emissions

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Comparison of the percent differential for WTW (well-to-wheel) GHGs from gasoline produced from WCSB oil sands using different production processes relative to gasoline produced from reference crudes. The proposed Project is not likely to impact the amount of crude oil produced from the oil sands. Click to enlarge.

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US State Department to issue Final EIS on Keystone XL pipeline in August; additional meetings in affected states

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Following the issuance of a Final EIS, the next step is a 90-day review period where interested federal agencies, such as the Department of Energy and the Environmental Protection Agency, will provide their views on whether issuance of a Presidential Permit would be in the national interest.

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Enterprise Products and Energy Transfer to form JV for crude oil pipeline from Cushing to Houston

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and Energy Transfer Partners, L.P. have agreed to form a 50/50 joint venture to design and construct a crude oil pipeline from Cushing, Oklahoma to Houston, Texas. Over the past three months, Cushing crude oil (West Texas Intermediate) has been trading at an average discount of approximately $12.57 per barrel and $10.54

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Coskata Unveils Semi-Commercial Feedstock-Flexible Ethanol Facility; Springboard for Full-Scale Commercial Rollout

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times more energy positive compared to conventional gasoline, according to an evaluation by Dr. Michael Wang at Argonne National Laboratory. gallons of water are required to produce one gallon of gasoline from Saudi Arabian Conventional Oil. Earlier post.). “We We will have the lowest production cost of ethanol in the industry.