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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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for the first quarter of 2011, according to data from the California Department of Oil, Gas & Geothermal Resources (DOGGR). Here, Chevron has reduced its steam:oil ratio (i.e., the steam required, represented by barrels of water, to produce one barrel of oil) from a peak of almost 8.5 in 1988 to just above 2.3 Source: Chevron.

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Europe/US team: transitioning to a low-carbon world will create new rivalries, winners and losers

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Saudi Arabia and Kuwait might, and should be encouraged to do so. Petro-states are compensated to transition smoothly to a sustainable economy, avoiding a last-ditch attempt to flood the world with cheap oil and gas. Governments might link low-carbon technology with foreign and security policy, as they did with oil and gas.

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