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US EIA: US crude oil production fell by 8% in 2020, the largest annual decrease on record

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US crude oil production averaged 11.3 The production decline resulted from reduced drilling activity related to low oil prices in 2020. The production decline resulted from reduced drilling activity related to low oil prices in 2020. In January 2020, US crude oil production reached a peak of 12.8 million b/d. million b/d.

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GE to invest $110M in new Oil & Gas Global Research Center in Oklahoma

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General Electric will build a new Global Research Center in Oklahoma dedicated to driving innovation and technological advancements in the oil and gas sector and bringing products to market faster. At GE, we see a tremendous opportunity in the oil and gas space. —GE Chairman and CEO Jeff Immelt.

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EIA forecasts Bakken oil production will top 1M barrels per day next month; >10% of US oil production

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The latest monthly update of estimated crude oil production in the Bakken region of North Dakota and Montana shows total wellhead output topping 1 million barrels of oil per day (bbl/d) next month. The update appears in the most recent issue of the US Energy Information Administration’s Drilling Productivity Report (DPR).

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Oklahoma approves rebate program for vehicle CNG conversions, purchases and home fueling stations

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The Oklahoma Corporation Commission (OCC) approved a rebate program that enables Oklahomans to receive rebates for the purchase of a. While the rebate program will be offered through Oklahoma Natural Gas (ONG), all Oklahomans are eligible for the rebates.

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Enterprise and Enbridge to proceed with Seaway and Flanagan South oil pipeline extensions; enhanced capacity for Canadian and Bakken crude to Gulf Coast

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The expansion of the reversed Seaway Pipeline will more than double its capacity to 850,000 barrels per day (bpd) by mid-2014 and transport oil originating in the Canadian oil sands and the US Bakken shale from Cushing, Oklahoma to the US Gulf Coast at Houston, with an extension to Port Arthur/Beaumont. billion to $2.8

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Commentary: Could falling oil prices spark a financial crisis?

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The oil and gas boom in the United States was made possible by the extensive credit afforded to drillers. As is the nature of the junk-bond market, lots of money flowed to companies with much riskier drilling prospects than, say, the oil majors. The situation will compound itself if oil prices stay low.

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Transcanada restarts Keystone oil sands pipeline operations

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TransCanada Corporation said that its 590,000 barrel-per-day (bpd) capacity Keystone Pipeline system resumed transporting oil sands crude on Sunday, 5 June, after a shutdown 29 May following an above-ground spill at a pump station in Kansas involving less than 10 barrels of oil. —PHMSA Corrective Action Order. Click to enlarge.

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