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EIA forecasts growing liquid fuels production in Brazil, Canada, and China through 2023

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The US Energy Information Administration (EIA) forecasts that liquid fuels production in Brazil, Canada, and China will increase this year and next, contributing to growth in overall non-OPEC petroleum production. The United States will account for about 60% of the growth in combined liquid fuels production in all non-OPEC countries.

Brazil 259
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Russia to cut export duty on ultra-heavy oil to stimulate production

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Business Mir reports that the Russian government has decided to cut the export duty on ultra-heavy oil to a mere 10% of the standard rate for 10 years to stimulate production. The decision on the so-called “10-10-10” scheme was made last Friday by the government commission on fuel and energy chaired by Deputy Prime Minister Igor Sechin.

Russia 199
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ExxonMobil plans five-year investment of $185B to develop new energy supplies; 21 major oil and gas projects to begin production between 2012 and 2014

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Demand for electricity will make natural gas the fastest growing major energy source and oil and natural gas are expected to meet 60% of energy needs over the next three decades. A total of 21 major oil and gas projects will begin production between 2012 and 2014. billion oil equivalent barrels. billion oil-equivalent barrels.