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Oil & Gas

Iranian petrochemical industry faces challenges amid overcapacity, international sanctions

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As international sanctions remain, Iranian petrochemical companies are facing contraction.
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Australia to advance in shale energy development

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The U.S. shale energy revolution has led to a wave of shale exploration across the world, as governments are looking for ways to gain energy independence and cheap feedstock for a number of industries.
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Total to invest $21 million in UK shale gas exploration

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French oil and gas company Total will obtain a 40% interest in two shale gas exploration licenses in Lincolnshire, under an agreement with British energy firm IGas Energy.
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ExxonMobil launches new capacity at Singapore chemical plant

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U.S. energy company ExxonMobil has announced the opening of its expanded chemical plant in Singapore that will be able to process crude oil, as well as other commodities.
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Global crude oil demand to increase in 2014

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This rise in consumption is attributed to demand from countries outside of the Organization for Economic Cooperation and Development, led by China.
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Colombia's petrochemical sector sees poor output performance in 2013

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Colombian market conditions are expected to improve in 2014, leading to growth in industrial production and better performance of petrochemicals-consuming sectors.
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Global petrochemical market to grow by 6.7% through 2018

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China is anticipated to retain its position as a world leader though 2018, as demand for petrochemicals will continue to grow faster than in other parts of the world.
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Colombia's Ecopetrol to invest $10.6 billion in 2014

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The investment will be used to add more crude oil reserves to the company's portfolio and to fund the drilling of 20 new exploratory wells, most of which will be located onshore.
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Middle East to dominate new natural gas-processing capacity through 2017

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The Middle East is set to outpace Europe and Africa in adding new capacity provided that Iran's industry is not stifled by international sanctions.
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Brazil to increase plastics production in 2014

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The Brazilian plastics market is expected to become more favorable and profitable to local plastics producers.
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