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Libya's NOC, Wintershall Strike Interim Deal To Resume Output

Libya's National Oil Corporation (NOC) and German oil firm Wintershall have agreed an interim deal to resume production.
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Shale Gas Giants Battle for Dominance as US Supplies Surge

The two biggest shale gas deposits in the US are producing a record amount of the power-plant fuel, signaling that a fight for market share will intensify as supply outstrips demand.
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China Issues Third Set Of Fuel Export Quotas Under Processing Scheme

China has issued 9.06 million tonnes of refined fuel export quotas under so-called processing trade terms in its third batch of quotas, two trading sources say.
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OMV, Gazprom May Revive Black Sea Gas Pipeline Extension

OMV and Gazprom are considering reviving a gas pipeline project through the Black Sea connecting Russia to central and southern Europe, an Austrian newspaper says.
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Traders Keep Oil In Asian Storage For Later, Undermine OPEC Supply Cuts

A 10% decline in oil prices since late May could push traders to keep crude in storage, looking to sell down the line when forward prices are higher.
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Oil Settles Up Before API Reports Surprise US Crude Build

Oil prices settled higher after OPEC detailed supply cuts around the world.
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Battle at Gas Champion Exposes Struggle to Rebuild Ukraine

Investors wanting to take the temperature of Ukraine's reform drive could do worse than look in on Naftogaz.
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The Lonely Drifting Oil Tanker That Signals OPEC's Struggle

Across the world, the plight of the Saiq, now idling off the coast of Mauritania, reflects a broader trend in the physical oil market.
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Canada Oil Industry Raises Growth Forecast, Calls For Pipelines

Canadian crude output will grow by a third to 5.1 million barrels per day by 2030, even as capital spending drops for an industry beset by challenges.
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Op-Ed: $1 Trillion on the Line, and Saudi Aramco IPO Riddled with Risk

One trillion dollars, one trillion problems: Saudi Aramco weighs which exchange is worth the gamble for its IPO.
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Statement: Qatar Petroleum, Shell Sign LNG Bunkering Agreement

Qatar Petroleum and Shell signed a framework agreement to develop global LNG bunkering facilities.
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WPX Forms JV To Develop Midstream Assets In Permian Basin

U.S. oil and gas producer WPX Energy Inc agrees to form a joint venture with privately held Howard Energy Partners to develop oil gathering and natural gas processing infrastructure in the Permian.
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BLOG: Investors Pump Cash into 'Knowledge Gap' Resource, But Is It Enough?

Investors are working hard to plug a knowledge gap in the North Sea.
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Abu Dhabi's Dana Gas Seeks Restructuring Of 'Unlawful' $700 MM Sukuk

Abu Dhabi's Dana Gas said it would propose restructuring $700 million of outstanding Islamic bonds to a committee of holders of the sukuk, which it said was not sharia-compliant.
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Norway Emerges From Oil Drop as Growth Seen at Pre-Crisis Levels

Norway may be finally emerging from an oil downturn with companies the most upbeat they've been on economy since before the oil crisis, according to a central bank survey.
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Faroe Petroleum Hits Oil in Norwegian North Sea

Independent oil and gas company Faroe Petroleum hits oil in a 'sand rich reservoir of very good quality' in the Norwegian North Sea.
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Sloan Lubrication Transitions Forward

This article was originally published in the May issue of COMPRESSORtech2. Get every issue in your inbox/mailbox and access to our digital archives with a free subscription. Sloan Lubrication Systems knows all about transition. Over the company’s 95-year history, it has evolved from handling sales to manufacturing lubrication systems and components, occupied eight different locations […]

The post Sloan Lubrication Transitions Forward appeared first on COMPRESSORtech2.

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Flannery Replacing Immelt as GE CEO

GE said that John Flannery, current president and CEO of GE Healthcare, has been named CEO of the company effective Aug. 1, 2017 and chairman and CEO effective Jan. 1, 2018. Jeff Immelt, Chairman and CEO, will remain chairman of the Board through his retirement from the company on Dec. 31, 2017.  In addition, Jeff […]

The post Flannery Replacing Immelt as GE CEO appeared first on COMPRESSORtech2.

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Funding Available For Turbine Research

The U.S. Department of Energy (DOE) announced the availability of approximately US$28 million for cost-shared research and development. The new funding opportunities are designed to advance technologies related to advanced combustion systems, advanced turbines and gasification as part of the Office of Fossil Energy’s (FE) Advanced Energy Systems program. Part of the funding (US$5.15 million)

The post Funding Available For Turbine Research appeared first on Diesel & Gas Turbine Worldwide.

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GE Expands Battery Storage Solutions

GE said it is expanding its battery storage solutions to all of its power plants globally. The company said its battery storage system works kind of like a hybrid car: gas turbine peakers and batteries wrapped in a single, efficient package with sophisticated power-management software. “With a hybrid gas turbine, you don’t have to run

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