StatoilHydro projects 16 percent increase in its oil, gas production by 2012
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"Through the merger, we have gained a stronger global portfolio and a better position for future growth."  OSLO, Norway : Norway's new state-controlled oil company StatoilHydro ASA on Wednesday said it expects oil production to increase 16 percent by 2012 after declining in recent years. via International Herald Tribune
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According to "Tehran Times", National Petrochemical Company (NPC) production will hit 15 million tons by March 2007. This indicates a threefold rise in production over the past 15 years.
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ExxonMobil Chemical has completed a debottleneck project at its  Specialties Plant in Edison, N.J., to increase production of Synesstic&#8482;  Alkylated Naphthalene (AN) Blendstocks by about 40 percent.
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World's largest oil reserves, could increase to top 461 billion barrels in a few years, the nation's oil minister said Sunday.
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World demand for oil will rise more than expected while supplies will remain tight between now and 2012, experts say.
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Royal Dutch/Shell Group, the third- largest publicly traded oil company, plans to increase spending to $15 billion a year and drill more to replenish oil and gas reserves that had been overstated for years.
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Statoil, NorwayÂs largest oil company, will pay $700 million for stakes in two oil and gas finds and one exploration prospect in deep waters of the Gulf of Mexico to offset an expected drop in domestic output. The company will buy 17.5 percent of the Caesar discovery and 12.5 percent each of the Big Foot find and the Big Foot North prospect from the Plains Exploration and Production Company of Houston, Statoil said. The discoveries are expected to increase production ÂsignificantlyÂ after 2010, Statoil said. It did not estimate the size of the reserves in the stakes.
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CALGARY, Alberta  - Canadian oil production will grow 9 percent this year, the country's national energy regulator said on Thursday, due to growing output from the Alberta oil sands and offshore oil projects.
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Exxon Mobil increased its expected   spending for its Sakhalin oil project in Russia above the   original 2002 estimate of $12.8 billion to reflect inflation   and foreign exchange pressures, a spokesman said on Monday.
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Venezuelan President Hugo Chavez said Sunday that taxes on foreign companies extracting heavy crudes from Venezuelan soil would be raised to 16.
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HOUSTON -- Oil giant Exxon Mobil Corp. said yesterday it will spend some of its record profits on more than 20 new global projects in the next three years, investments expected to add 1 million oil-equivalent barrels a day to the company's volumes at peak production.
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Industrial output in the US rose for a 16th straight month in September,  ahead of analysts' forecasts.
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Minister of Petroleum Sameh Fahmi said on Monday that there is a national plan to set up 8 giant petrochemical projects at a total investments of $6 billion including $ 3.5 million from foreign partners.
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Royal Dutch/Shell Group on Wednesday announced a &#36;150 million increase in the amount of money it will spend in 2004 on exploration and production in Europe, bringing the total to &#36;1.8 billion.
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NEW YORK, December 27  - Saudi Arabiaâs oil reserves could increase 77% to 461 million barrels in a few years, since the oil rich country continues to maintain spare capacity of two million barrels per day to help control the global
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According to Al-Yaum newspaper (December 12, 2006), a recent study by the Dubai Chamber of Commerce and Industry estimated at 40 million tons the total annual petrochemicals production in the Arabian Gulf States. This figure is equivalent to 7% of the global petrochemicals output.
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World demand for oil will rise more than expected while supplies will remain tight up to 2012, experts say.