ADB approves $240M to help Kazakhstan modernize transport, improve connectivity

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The Asian Development Bank (ADB) has approved a $240.3-million loan to help Kazakhstan modernize its transport system. Improved transport connectivity will help increase trade links between Kazakhstan and the markets in East Asia, the Caspian Sea region, and further to Europe. It will also establish fast transportation links connecting Astana and Aktobe with the major oil and mineral–rich city of Atyrau, and the country’s only international commercial seaport in Aktau.

Opinion: Oil Megaprojects Won’t Stay On The Shelf For Long

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One casualty of the oil price downturn could be the megaproject. For years, as conventional oil reserves depleted and became increasingly hard to find, oil companies ventured into far-flung locales to find new sources of production. Extracting oil from these frontier areas required more advanced technology and a lot more capital: Ultra deepwater, Arctic offshore, heavy oil sands, and increasingly, the Lower Tertiary. Oil Opinion

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EIA Estimates 2.1% Growth in Fossil Fuel CO2 Emissions in US in 2010; Still Below 1999-2008 Levels

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EIA projects that world oil consumption will grow by 1.5 This growth is the result of an expected recovery in the global economy, with world gross domestic product (GDP, on an oil-weighted basis) assumed to rise by more than 3 percent per year. Most of the growth in oil consumption is expected in the Asia-Pacific and Middle East regions. The largest source of growth in 2010 is the United States, followed by Brazil, Azerbaijan, and Kazakhstan.

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IEA World Energy Outlook view on the transport sector to 2035; passenger car fleet doubling to almost 1.7B units, driving oil demand up to 99 mb/d; reconfirming the end of cheap oil

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Change in primary oil demand by sector and region in the central New Policies Scenario, 2010-2035. Under the WEO 2011 central scenario, oil demand rises from 87 million barrels per day (mb/d) in 2010 to 99 mb/d in 2035, with all the net growth coming from the transport sector in emerging economies. Alternative technologies, such as hybrid and electric vehicles that use oil more efficiently or not at all, continue to advance but they take time to penetrate markets.

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