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bp Statistical Review shows 4.5% drop in primary energy consumption in 2020; mainly driven by oil

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This fall was driven mainly by oil, which accounted for almost three quarters of the net decline. Natural gas prices declined to multi-year lows; however, the share of gas in primary energy continued to rise, reaching a record high of 24.7%. World oil production fell for the first time since 2009 by 6.6 The US (-2.3

2020 397
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Lux: nearly $7B in private investment in emerging oil & gas E&P technologies over last decade

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Investment into emerging oil and gas E&P (exploration and production) technologies, which were nearly non-existent in 2003, at just $57 million, have attracted nearly $7 billion in private investment from 497 unique transactions, according to a new report from Lux Research, “ Investing in Next Generation Oil and Gas Technologies ”.

Oil 210
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GE and Sargas AS partner on gas-fired plants with carbon capture for enhanced oil recovery

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GE has concluded a commercial alliance agreement with Norway-based Sargas AS to provide a gas turbine for one of the world’s first gas-fired plants with integrated carbon capture for enhanced oil recovery (EOR). GE’s LMS100 turbine is a combination of proven frame and aero-derivative gas turbine technology.

Oil 220
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Eni report: global oil reserves and oil production up in 2018 due to US

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Eni has released the 18 th edition of the World Oil, Gas and Renewables Review , the annual statistics report on oil, natural gas and renewables sources. The second volume, the World Gas and Renewables Review , focused on natural gas and renewables sources (solar, wind and biofuels), will be published in autumn.

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Study Finds That CO2 Standards for Vehicles Can Reduce Price of Oil

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A new study by the French institute Enerdata, commissioned by the European Federation for Transport & Environment (T&E), suggests that the European CO 2 standards for new vehicles due to come into effect in 2012 will lead not only to a European savings on oil (mainly via lower oil import volumes) but also to slightly lower global oil prices.

Oil 150
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IEA WEO-2012 finds major shift in global energy balance but not onto a more sustainable path; identifies potential for transformative shift in global energy efficiency

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The WEO finds that the extraordinary growth in oil and natural gas output in the United States will mean a sea-change in global energy flows. In the New Policies Scenario, the WEO ’s central scenario, the United States becomes a net exporter of natural gas by 2020 and is almost self-sufficient in energy, in net terms, by 2035.

Global 225
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The New Oil Cartel Threatening OPEC

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When reports emerged that India and China are in talks about forming an oil buyers’ club , OPEC was probably too busy with its upcoming June 22 meeting to concern itself with that dangerous alliance. The reason they are likely to join in is that unlike in previous oil price cycles, now there are alternatives to fossil fuels.

Oil 170