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Ukraine state oil and gas company signs $3.656B credit agreement with China Development Bank to finance substituting natural gas with coal

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The Ukraine state oil and gas company Naftogaz signed a US$3.656-billion credit agreement with the state-owned China Development Bank to finance the program of substituting natural gas with locally produced coal. Previously, Ukraine expressed its interest in the Chinese technology of coal gasification and coal-water fuel production.

Ukraine 236
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Oil Well Strippers Suffering From Low Oil Prices

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With OPEC breaking down and any kind of coordination among its members on price cuts looking increasingly unlikely, it now appears that oil prices could remain below $50 a barrel for a year or more. A stripper is a small operator of very old oil wells that frequently produce less than five barrels per day of oil.

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IEA: nuclear power can play a major role in transition to low emissions energy systems; Russia, China leading on new reactor starts

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About 63% of today’s nuclear generating capacity comes from plants that are more than 30 years old, since many were built in the aftermath of the 1970s oil shocks. Government financing will remain necessary to mobilise new investment, not just for plants but also to develop the latest technologies.

Russia 458
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China’s CNOOC to acquire Canada-based Nexen for $15.1B; offshore oil and gas, oil sands, and shale gas

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CNOOC Limited—China’s largest producer of offshore crude oil and natural gas and one of the largest independent oil and gas exploration and production companies in the world—is acquiring all of the Common Shares of Canada-based energy company Nexen Inc. It is the second-largest oil producer in the UK North Sea.

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Empa and partners exploring DME as fuel with new heavy-duty test engine

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In cooperation with a major European supplier, a new oil-lubricated common-rail pump had therefore been developed. The research project is co-financed by the Swiss Federal Office of Energy (FOEN). Water is formed as a by-product. If water is removed from the reaction mixture, the chemical equilibrium shifts towards the product.

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Renewable fuels and biochar company Cool Planet closes on $100M Series D financing

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Cool Planet Energy Systems, a renewable fuels and biochar company ( earlier post ), closed on its targeted $100 million Series D financing. Used as a soil amendment, its CoolTerra biochar product also increases crop productivity and plant health while reducing water and fertilizer requirements.

Financing 225
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Turkey begins work on $15B Canal Istanbul

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Both waterways are located in Turkey and supply Western and Southern Europe with oil from Russia and the Caspian Sea region. Critics say it would destroy a marine ecosystem and endanger some of the city’s fresh water supply. The US Energy Information Administration (EIA) identifies the Bosphorous as one of six key world chokepoints.

Turkey 243