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Imperial Oil and E3 Lithium partner on lithium pilot project, redeveloping historic oil field

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The pilot will support E3 Lithium’s Clearwater project, which will draw lithium from under the Leduc oil field, Imperial’s historic discovery that first launched major oil and gas development in Western Canada. million into E3 at a pre-paid price of CAD $1.86/warrant warrant and the issuance of 3,413,979 warrants.

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Report suggests low-speed electric vehicles could affect Chinese demand for gasoline and disrupt oil prices worldwide

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Low-speed electric vehicles (LSEVs) could reduce China’s demand for gasoline and, in turn, impact global oil prices, according to a new issue brief by an expert in the Center for Energy Studies at Rice University’s Baker Institute for Public Policy. “

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Oil Well Strippers Suffering From Low Oil Prices

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With OPEC breaking down and any kind of coordination among its members on price cuts looking increasingly unlikely, it now appears that oil prices could remain below $50 a barrel for a year or more. A stripper is a small operator of very old oil wells that frequently produce less than five barrels per day of oil.

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IHS Markit: conventional oil & gas discoveries at lowest levels in 70 years; major rebound unlikely

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Conventional oil and gas discoveries during the past three years are at the lowest levels in seven decades and a significant rebound is not expected, according to a new report by global business information provider IHS Markit. —Keith King, senior advisor at IHS Markit and a lead author of the IHS Markit E&P trends analysis.

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EU research project IDEALFUEL seeks to develop marine low-sulfur heavy fuel oils from biomass; Bio-HFO

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In an EU-funded research project, an international consortium is aiming to develop new production methods for sustainable marine fuels to replace heavy fuel oils in shipping. However, HFOs are banned in the national waters of many countries. Although cleaner fuels are available, many companies opt for HFOs due to their low cost.

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Opinion: Consumers winning with low oil prices, for now

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Lest we be too quick to forget whence we came, America is now 9-months into lower gasoline prices, which started their swoon the week of June 30, 2015 from a lofty national average just under $3.70, tumbling almost every subsequent week before bottoming and bouncing from $2.02 by Thomas Miller for Oilprice.com. Bernard Weinstein, Ph.D.,

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$10-Trillion Investment Needed To Avoid Massive Oil Price Spike Says OPEC

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OPEC says that $10 trillion worth of investment will need to flow into oil and gas through 2040 in order to meet the world’s energy needs. The OPEC published its World Oil Outlook 2015 (WOO) in late December, which struck a much more pessimistic note on the state of oil markets than in the past.