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  • The world’s governments plan to produce 120% more fossil fuels by 2030 than can be burned under 1.5°C warming. That is the key finding of The Production Gap report published by leading research organisations* and the UN, which assesses the gap between Paris Agreement goals and countries’ planned pro...

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  • Saudi Aramco cancelled planned roadshows in Asia, the US and Europe in November, after a luke-warm reception from international investors for its long-awaited initial public offering (IPO).Investors valued the state-owned company below the $2tn target set by Crown Prince Mohammed bin Salman. Saudi A...

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  • Brazil’s Petrobras is on track to become the world’s largest oil producer among publicly listed companies by 2030, according to Rystad Energy, and is seeking OPEC membership.The country’s biggest-ever oil auctions in November 2019 were generally deemed to be disappointing, receiving muted interest f...

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  • The deepwater oil discovery offshore Ghana by independent Springfield Group marks a milestone as the first deepwater oil discovery to be made by an African oil company. Not only that, estimated to hold as much as 1.2bn barrels of oil, with up to 35% recoverable according to Springfield., it could be...

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  • The oil and gas supermajors are looking to sell assets that could fetch a total $27.5bn, according to Rystad Energy’s latest assessment. The companies are actively shedding mature assets on a massive scale in a bid to finance higher-yielding investments elsewhere, with the added benefit of pleasing ...

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  • Total has announced first oil from the Iara licence in block BM-S-11A in the deepwater Santos Basin pre-salt.This marks the start-up of the FPSO P-68, the first of two floating production, storage and offloading units (FPSO) to be installed on the block. The second, the P-70, is expected to come ons...

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  • The European Investment Bank (EIB) has agreed a new energy lending policy under which it will end financing for fossil fuel energy projects, including gas, from the end of 2021.Also confirming its ‘increased ambition in climate action and environmental sustainability’, the EIB said it would ‘unlock ...

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  • The Abu Dhabi National Oil Company (ADNOC) is to invest $489mn to upgrade its giant Bab onshore field and sustain long-term output capacity at what is its first field producing Murban grade crude.ADNOC awarded the EPC (engineering, procurement and construction) contract to Archirodon Construction Ov...

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  • The Abu Dhabi National Oil Company (ADNOC) and Total are working together to deploy what they claim will be the world’s first automated seismic acquisition system in Abu Dhabi.The pilot project, performed with Total’s Multiphysics Exploration Technology Integrated System (METIS®), uses autonomous dr...

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  • A new report from the Energy Technologies Institute (ETI) suggests that managed or ‘smart’ charging could support the widespread integration of low carbon cars and vans into the energy system to meet the UK’s 2050 climate change targets.Although significant progress has been made to decarbonise the ...

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