Chevron approves next major Tengiz expansion project in Kazakhstan

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Chevron Corporation announced that its 50% owned affiliate, Tengizchevroil (TCO), will proceed with the development of its Future Growth and Wellhead Pressure Management Project (FGP-WPMP), which will increase crude oil production at the Tengiz oil field in Kazakhstan by about 260,000 barrels per day. The project will raise TCO’s total production to approximately 1 million barrels of oil equivalent per day.

Foster Wheeler awarded contract for hydrogen production unit in Kazakhstan for major refinery modernization

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A subsidiary of Foster Wheeler AG’s Global Engineering and Construction Group has been awarded a contract for the basic engineering design of a new hydrogen production unit, based on Foster Wheeler Terrace Wall steam reforming technology, to be built at the Atyrau Refinery in Kazakhstan. The main purpose of this project is to increase the oil conversion rate and production of all types of motor fuels to meet Euro IV and Euro V standards.

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Alstom, Transmashholding and Kazakh Railways (KTZ) to Create Joint Company to Manufacture Electric Locomotives in Kazakhstan

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Alstom, Transmashholding and Kazakh Railways (KTZ) have signed an agreement for the creation of a joint venture company to produce electric locomotives in Kazakhstan. It follows the signature on 3 June in Almaty (Kazakhstan) of a Memorandum on mutual cooperation. The production of components will gradually be delocalized to Kazakhstan.

EIA ups total shale oil resource estimate by 13% to 419B barrels, shale gas by 4% to 7576 Tcf

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The addition of four countries—Chad, Kazakhstan, Oman, and the United Arab Emirates (UAE)—to a previous assessment covering 42 countries has resulted in a 13% increase in the global assessed total resource estimate for shale oil and a 4% increase for shale gas. The portions of these resources that become economically recoverable in the future will depend on crude oil and natural gas market prices, as well as the capital and operating costs and productivity within the countries.

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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. According to estimates, oil companies will save $100mn with current production levels and as much as $1.3bn if output of that grade increases according to Energy Ministry forecasts. Kazakhstan and Russia have the largest amounts of bitumen after.

Repsol and Alliance Oil to form an exploration and production JV in Russia

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Repsol and Alliance Oil Company have signed a Memorandum of Understanding to form a joint exploration and production (E&P) venture that will serve as a growth platform for both companies in the Russian Federation, the world’s largest oil and gas producer. stake in Eurotek-Yugra, which holds exploration and production licenses in the Karabashsky-1 and -2 blocks in the prolific West-Siberia basin.

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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A total of 21 major oil and gas projects will begin production between 2012 and 2014. Highlights include: ExxonMobil replaced 107% of its 2011 production (116% excluding asset sales), increasing proved reserves to 24.9 It was the 18 th consecutive year the company replaced more than 100% of its production, with proved reserve additions of 1.8

2012 80

Russia’s KAMAZ to create artificial city as autonomous driving testing ground

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According to Sergey Nazarenko, chief designer of innovative products for KAMAZ’s R&D Center, similar artificial cities as testing grounds can be found at Volvo in Switzerland, with another under construction for Daimler in Germany. It has assemblers in Vietnam, Iran, India, Kazakhstan, and Pakistan. Russian commercial vehicle manufacturer KAMAZ is proposing to create an artificial city as a testing ground for unmanned vehicles.

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Toyota Europe Q1 hybrid sales up 82.3% for 20% of total sales; Auris Hybrid the leader

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As we approach our global 5-million full hybrid sales milestone, the strong sales performance of our hybrid products in Europe is particularly encouraging. First quarter Lexus sales reached a record high of 3,700 units in Eastern Europe consisting of the Russian Federation, Kazakhstan, Ukraine and Caucasus. Toyota Motor Europe (TME) posted 2013 first quarter sales of 197,309 Toyota and Lexus vehicles in Europe.

2013 102

Eni reports first oil from giant Kashagan field in North Caspian Sea

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The oilfield is located in the North Caspian Sea, approximately 80 kilometers (50 miles) southeast of Atyrau, in Kazakhstan. Eni holds a 16.81% stake in the consortium for the development of Kashagan and through Agip KCO is responsible for developing and start of production of the field. Afterwards, the production will increase progressively up to 370,000 barrels of oil equivalent per day. Eni announced that first oil from the giant Kashagan oil field has been produced.

2013 76

4,500th GE Evolution Series Locomotive enters service; reductions in fuel consumption and emissions

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The Evolution Series Locomotives operate in key rail markets worldwide, including in the US, Canada, Mexico, Brazil, Egypt, Kazakhstan, China, Mongolia, and Australia. The Texas facility will manufacture, assemble and remanufacture GE’s rail and transportation-related products. Production is scheduled to start by the third quarter of 2012. GE Transportation’s 4,500 th more fuel efficient Evolution Series Locomotive has entered revenue service.

2011 74

GE, Rosneft to pursue opportunities in Russia’s oil and gas industry, including Arctic offshore

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GE and OJSC Rosneft signed a memorandum of understanding (MOU) that lays the foundation for the two companies jointly to evaluate and develop commercial opportunities in oil and gas exploration and production in the Russian Federation. GE sells advanced technology equipment and services for all segments of the offshore and onshore oil and gas industry, from subsea, drilling and production, LNG, pipelines and storage to industrial power generation, refining and petrochemicals.

Geological Society of London: future supply of rare earth elements could be disrupted by technical, environmental and financial factors

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REE are increasingly being used in the production of low-carbon technologies such as wind turbines, electric traction motors and hybrid vehicles, as well as countless other applications from LCD and plasma screens to jet engines. There are environmental considerations too, with REE production using a great deal of energy, and most REE mines being open cast.

US, China, and G-20 agree to work to global phase down of HFCs

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First, G-20 leaders expressed their support for initiatives that are complementary to efforts under the UN Framework Convention on Climate Change (UNFCCC), including using the expertise and institutions of the Montreal Protocol to phase down the production and consumption of HFCs, while retaining HFCs within the scope of the UNFCCC and its Kyoto Protocol for accounting and reporting of emissions.

2013 71

Groundbreaking in Turkmenistan for major synthetic gasoline plant; first full-scale Haldor Topsøe TIGAS facility

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The plant will be become operational in approximately four years from now with a daily production capacity of 15,500 bbl of synthetic gasoline. Turkmenistan is one of the six independent Turkic states and is bordered by Kazakhstan to the northwest, Uzbekistan to the northeast and east, Afghanistan to the southeast, Iran to the south and southwest, and the Caspian Sea to the west.

Sonangol, Maersk Oil and partners strike oil with their first deepwater pre-salt well offshore Angola

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There is substantial evaluation work ahead of us to determine whether the discovery is enough to invest further to get production going. Maersk Oil is an international oil and gas company with operated production of about 650,000 barrels of oil equivalent per day offshore Denmark, UK and Qatar, as well as onshore Kazakhstan and Algeria. Sociedade Nacional de Combustíveis de Angola Empresa Pública (Sonangol, E.P.),

GE and Shenhua open coal gasification joint venture in China

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The region’s coal industry comprises China, India, Australia, Indonesia, Kazakhstan, Thailand, Vietnam and New Zealand. China contributed 68% towards the region’s total coal production in 2011. With the abundance of coal deposits across several provinces in the country, China’s role as the world’s coal production giant is set to continue, with many planned exploration projects fixed for the next decade, according to the report.

2012 71

Canadian Pacific Selects GE Transportation’s Trip Optimizer; Locomotive Fuel Savings of 6-10% in Testing

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Following operational testing, Canadian Pacific Railway Limited will equip 200 locomotives with GE Transportation’s Trip Optimizer fuel savings system in the product’s first commercial deployment. The product can also be combined with a full suite of fuel savings products from GE, including LOCOTROL Distributed Power, for more savings.

2009 60

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

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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. Production from an average shale well is a fraction of a deepwater well, for example, and output also suffers from dramatically steeper decline rates compared to offshore. production has only recently begun to decline,” Moody’s concluded in a recent report. by Nick Cunningham of Oilprice.com.

2015 73

Chevron announces $32.7B capital and exploratory budget for 2012; LNG and deepwater investments propel a step change

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We believe these investments will yield significant production growth and reward our shareholders for years to come. By 2017, we expect our net crude oil and natural gas production to grow about 20 percent to 3.3 Approximately 87% of the 2012 spending program is budgeted for upstream crude oil and natural gas exploration and production projects. billion is planned for exploration and production activities, including major natural gas-related projects.

Opinion: Uranium Prices Set To Double By 2018

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NexGen is slated to start production in the 2020s. 57 million pounds of uranium imports last year came from Canada and Kazakhstan, with Canada providing 17 million pounds—these producers are extremely well-positioned for what comes next. by James Stafford of Oilprice.com. With prices set to double by 2018, we’ve seen the bottom of the uranium market, and the negative sentiment that has followed this resource around despite strong fundamentals, is starting to change.

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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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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. Non-OPEC supply is projected to increase by 600,000 bbl/d in 2010, about 50,000 bbl/d more than last month's Outlook, because of a revised forecast for production in North America. 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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The transport sector—which depends almost entirely on oil products, with 93% of all the fuel used in the sector being oil-based in 2010—remains the main driver of global oil demand as economic growth increases demand for personal mobility and freight. Production of conventional crude oil—the largest single component of oil supply—remains at current levels before declining slightly to around 68 mb/d by 2035.

2011 85