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BHP offboards its petroleum business in merger with Woodside; focus on “future-facing commodities”

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Anglo-Australian BHP Group is merging its oil and gas business with Woodside Petroleum Ltd. On 5 August, the BHP Board approved US$544 million in capital expenditure to execute the Shenzi North oil project in the US Gulf of Mexico. 2P reserves of more than 2 billion boe comprising 59% gas, and 41% liquids. The project will deliver 4.35

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Fuel economy measures could cut Commonwealth countries’ cumulative oil bill by US$3.2T through 2050

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Commonwealth countries can cut their cumulative oil bill by £2 trillion (US$3.2 Given that about half the Commonwealth’s and world’s oil is used in transport and oil accounts for about 95% of transport fuel use, this could spell economic disaster for the oil importing countries which make up the vast majority of the Commonwealth.

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GECF: more than a quarter of 2050 natural gas supply untapped

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Senturin made his remarks during the 25 th Oil & Gas of Turkmenistan Conference. According to Sentyurin, around 80% of the natural gas production by mid-century will stem from new projects, highlighting the importance of continued investment in upstream. —Secretary General Sentyurin.

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Canada Launches Heavy Oil Working Group to Promote Cleaner Fossil Fuels

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The Government of Canada has established a Heavy Oil Working Group. Comprising countries such as Canada, Brazil, Colombia, Mexico, the United States and Venezuela, the Heavy Oil Working Group will collaborate on clean energy research to reduce the impact of fossil fuel development. Minister Paradis.

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Lifecycle study finds LNG can reduce shipping GHG emissions by up to 21%

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A lifecycle study by consultancy thinkstep, commissioned by SEALNG and SGMF, has found that greenhouse gas (GHG) reductions of up to 21% are achievable now from LNG as a marine fuel, compared with current oil-based marine fuels, over the entire life-cycle from Well-to-Wake (WtW).

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Devil in the Details: World Leaders Scramble To Salvage and Shape Copenhagens UNFCCC Climate Summit

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ºF) above pre-industrial levels to avoid the most catastrophic effects of climate change, and that global GHG emissions would have to peak around 2020 and then sharply decline by 50% to 85% by the year 2050. AR4 also affirmed that warming would have to be held to no more than 2 ºC to 2.4 ºF) increase. Earlier post.)

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