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Opinion: Oil Market ShowdownCan Russia Outlast The Saudis?

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November 27, oil consuming countries will celebrate the first anniversary of the Saudi decision to let market forces determine prices. Both, it would seem, have incentive to do so, as each has lost over $100 billion in crude revenues in 2015—and Russia bears the extra burden of U.S. by Dalan McEndree for Oilprice.com. and $65.65

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President of Mexico nationalizes lithium

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A number of foreign companies are interested in developing lithium deposits in Mexico; in September 2022, the finance ministry valued the lithium deposit in Sonora state as worth as much as 12 trillion Mexican pesos (US$653 billion, currently). What we are doing now.

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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. Repsol also owns a 74.9%

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CNPC’s first hydrogen station in Beijing in operation

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As the first batch of pilot projects of CNPC in the new energy field, the hydrogen stations in operation lay a foundation for the company’s future extensive deployment of hydrogen stations and the construction of hybrid stations of oil, gas, electricity, and hydrogen. CNPC) is an integrated international energy company.

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The Saudi Dilemma: To Cut Or Not To Cut

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million barrels daily, including from Russia, to reverse the free fall of oil prices. A recent report from Capital Economics said Saudi Arabia has its problems but it could withstand lower oil prices without feeling too much of a pinch. Saudi Arabia cannot afford another slump in oil prices,” he warns. “It Kemp agrees.

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Rosneft and BP sign agreement on development of Domanik tight-oil formations

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Rosneft and BP Exploration Operating Company Limited signed a Heads of Agreement on Domanik tight oil formations. The joint venture company (Rosneft 51%, BP 49%) will be incorporated in Russia. The Domanik region in Russia. Source: USGS. Click to enlarge. The document was signed within the framework of the St.

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EIA: New refineries will increase global refining capacity in 2022 and 2023; China leads

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After Russia began its full-scale invasion of Ukraine in late February 2022, the impacts of reduced global refining capacity were exacerbated. In its June 2022 Oil Market Report, the IEA expects net global refining capacity to expand by 1.0 million b/d in 2022 and by an additional 1.6 million b/d in 2023.

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