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EIA: US LNG exports grew to record highs in the first half of 2021

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US LNG exports increased in the first half of this year as international natural gas and LNG spot prices increased in Asia and Europe due to cold weather. The US Henry Hub natural gas benchmark and US LNG spot market prices have been lower than prices for international natural gas and spot LNG this year.

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Global study shows uneven urbanization among large cities in the last two decades

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New Delhi in India, Cairo in Egypt, Lagos in Nigeria). Breakdown of the 841 large cities by country income-levels: 353 cities (42.0%) from high-income countries (e.g. New York in US, Tokyo in Japan). 340 cities (40.4%) from upper-middle-income countries (e.g. Pearl River Delta (PRD) and Beijing in China, São Paulo in Brazil).

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IEA: non-OPEC oil supply tops 43 mb/d for first time in decades; global demand to reach 92.4 mb/d in 2014

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The International Energy Agency’s (IEA’s) Oil Market Report (OMR) for December raised the estimate of global oil demand for 2013 by 130,000 barrels per day (130 kb/d) to 91.2 Renewed disruptions in Libya and smaller drops in Nigeria, Kuwait, the United Arab Emirates and Venezuela more than offset higher output in Iran, Iraq and Angola.

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

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The International Energy Agency (IEA) estimates that global refining capacity decreased by 730,000 barrels per day (b/d) in 2021—the first decline in global refining capacity in 30 years. In the United States, refining capacity has decreased by about 1.1

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China’s CNOOC to acquire Canada-based Nexen for $15.1B; offshore oil and gas, oil sands, and shale gas

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CNOOC Limited will implement and enhance Nexen’s current planned capital expenditure program, thereby investing significant capital in Canada and in Nexen’s other international assets. Nexen’s other international activities will be maintained as planned. CNOOC Limited intends to retain Nexen’s current management team and employees.

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Opinion: How Much Longer Can OPEC Hold Out?

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OPEC (Organization of the Petroleum Exporting Countries) has been the most talked about international organization among investors, analysts and international political lobbies in the last few months. As per its state run oil company PDVSA, the country loses about $700 million a year with every $1 drop in the international oil price.

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GE study finds 5% of worlds natural gas production wasted per year by flaring

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It is becoming increasingly clear that the next phase of flare gas eradication will require a major, coordinated effort from central and regional governments, oil and gas producers, technology providers, and the international community. The role that each party plays differs by region. Advance local solutions.

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