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Cost shift signals changes in energy investment, use
Industrial energy costs have increased recently relative to industrial construction costs in a shift that will affect energy investment, production, and use.
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US congressional energy stalemate hardens as recess nears
US congressional Democrats and Republicans appeared unlikely to resolve their impasse over energy as the August recess drew closer.
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Oil markets cling to ‘Rising demand-Falling supplies’ view
Expectations that supplies will continue to dwindle while demand keeps growing have pushed crude oil prices dramatically higher since the beginning of 2008, two leading energy analysts told US senators.
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WATCHING GOVERNMENT: Costly E&P behind high prices
Several members of Congress may try to minimize it. But experts say that a basic force behind dramatically higher oil and gas prices is more expensive exploration and production.
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BLM decision sets stage for major NPR-A lease sale
The US Bureau of Land Management issued a record of decision that sets the stage for a major lease sale in the National Petroleum Reserve-Alaska’s northeast portion.
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Study: US unconventional gas resources underestimated
The United States has 2,247 tcf of natural gas reserves, enough to last 118 years at 2007 demand levels, a new study has said.
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Indonesia to place BPMigas VPs within IOCs
Indonesia, in a bid to exercise greater control over contract holders, will allow upstream oil and gas regulator BPMigas to assign officials to work as vice-president within international oil companies (IOCs).
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Indonesia’s OPEC withdraw decision ‘sovereign’
Chakib Khelil, president of the Organization of Petroleum Exporting Countries, while acknowledging that Indonesia has played an important role since joining the organization in 1962, said its plan to withdraw from the group is a “sovereign” decision.
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WATCHING THE WORLD: Mexico, US talk gulf reserves
The US and Mexico are reported to have begun talks on how to conduct oil exploration operations in the Gulf of Mexico beginning in 2011 when a 10-year moratorium expires.
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Pertamina to offset downtime, hike August fuel imports
Indonesia’s state-owned PT Pertamina will raise its fuel imports by 60% for about a month to compensate for a drop in production at its Cilacap refinery in Central Java.
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API: US oil demand dropped 3% during first half
US oil demand dropped 3% in 2008’s first 6 months as gasoline deliveries fell 1.7% in their first significant 6-month decrease since 1991, the American Petroleum Institute reported on July 18.