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Oil & Gas

Statoil finds new oil reserves in North Sea

Shortly after it announced what is considered to be the biggest oil discovery in the North Sea for decades, Statoil said it had made a new discovery in the area, this time in the Grane field.
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Global petrochemical producers rethink strategies to remain competitive

Most petrochemical businesses have already come to the realization that the U.S. natural gas-based feedstock is giving those who use it a great advantage in terms of costs.
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Enbridge applies for capacity extension of Alberta Clipper pipeline

Calgary-based pipeline transport company Enbridge is seeking U.S. approval to increase the capacity of a pipeline carrying crude from Alberta to Wisconsin.
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ExxonMobil, Qatar Petroleum sign deal for natural gas liquefaction project in Texas

The agreement establishes a commercial framework to sell up to the full 15.6 million metric ton annual (MTA) output of the Golden Pass Products liquefaction project.
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Odebrecht to invest heavily in Latin America

Brazilian conglomerate Odebrecht announced May 1 plans to invest $20 billion globally over the next three years, 85 percent of which will be invested in Latin America.
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Shale oil projected to account for 9% of 2020 global oil production

Shale oil is set to increase its importance globally and will continue to expand in terms of production and share on the international energy market, to account for 9% of total global production.
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BP to invest $596 million in South Africa, Mozambique

BP Southern Africa will spend 4.7 billion rand in South Africa, including 2.5 billion rand to upgrade the Sapref refinery in Durban, and 800 million rand to refurbish infrastructure in Mozambique.
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Shell starts major petrochemical investment in Singapore

Global energy giant Shell has announced plans to expand its investments in Asia by building new petrochemical units in Singapore.
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Statoil discovers new North Sea oil reserves

Norwegian energy giant Statoil announced Friday that it had found "significant" new oil resources in the North Sea.
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Qatar Petroleum enters North American natural gas market

The dramatic increase in shale gas output in the United States in recent years has transformed the domestic energy sector but it has also had far-reaching implications in global markets.
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