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Chevron announces “significant” oil discovery in deepwater Gulf of Mexico

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Chevron Corporation announced a significant oil discovery at the Anchor prospect in the deepwater US Gulf of Mexico. Anchor co-owners are Cobalt International Energy, Inc. (20%), 2 encountered oil pay in multiple Lower Tertiary Wilcox Sands. Appraisal drilling will begin in 2015. The Green Canyon Block 807 Well No.

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Sasol bails on $13-$15B US GTL project, divests from Canadian shale; no new greenfield GTL

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In January 2015 Sasol announced it was delaying a final investment decision on the proposed project near Lake Charles, Louisiana to conserve cash in response to lower oil prices. Sasol has also decided not to invest in any additional crude oil refining capacity. —Stephen Cornell. —Stephen Cornell.

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Alon USA receives go ahead for Bakersfield, CA rail terminal and refinery project; Bakken light crude

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Alon USA Energy, Inc. Construction of the rail facility is expected to be completed by the end of 2015. Current products include gas oil, gasoline, diesel fuel, and petroleum coke. Alon intends to resume operation of several existing process units under existing permits, including a return to crude oil refining.

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Denbury to Acquire Encore for $4.5B Transaction; Creates One of the Largest Crude Oil Upstream North American Independents and One of the Largest CO2 EOR Platforms

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billion, including the assumption of debt and the value of the minority interest in Encore Energy Partners LP. The transaction positions Denbury as one of the largest crude oil-focused, independent North American exploration and production companies. Denbury Resources Inc. the “Company”) and will be headquartered in Plano, Texas.

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EIA: US refineries running at record levels; gasoline demand; exports up

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Gross inputs to US refineries exceeded 17 million barrels per day (b/d) in each of the past four weeks, according to the US Energy Information Administration (EIA)—a level not previously reached since EIA began publishing weekly data in 1990. In its July Short-Term Energy Outlook (STEO), EIA estimated that refinery runs will average 16.7

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UPS announces renewable diesel agreements with Neste, REG and Solazyme; up to 46M gallons over next 3 years

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Neste, Renewable Energy Group (REG) and Solazyme will supply renewable diesel to UPS to help facilitate the company’s shift to move more than 12% of its purchased ground fuel from conventional diesel and gasoline fuel to alternative fuels by the end of 2017. White House climate pledge.

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USDA provides $91M loan guarantee to Cool Planet for biogasoline blendstock plant; biomass pyrolysis and catalytic conversion

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USDA has reached an agreement with Silicon Valley Bank to provide a $91-million Biorefinery Assistance Program loan guarantee to Cool Planet to help the company finish construction on an advanced biofuel plant at the Port of Alexandria in Louisiana. Sapphire Energy has paid off its USDA loan for a plant now operating in New Mexico.