Exxon plans 25 new projects in next three years
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Exxon Mobil Corp  plans to start 25 new global projects in the next three years, adding about 1 million barrels of oil equivalent per day to its base volumes when they reach their peak, the world's largest publicly traded oil company said on Wednesday.
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Energy companies plan to file permit requests in the next two years to build 27 new nuclear reactors in the United States, according to a U.S. regulator who said Tuesday his agency expects a "nuclear renaissance."
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Kuwait plans to spend some $30 billion  to $40 billion to upgrade its energy sector, and to increase  oil production capacity 60 percent to four million barrels per  day by 2020, top oil officials said in remarks published in  local newspapers on Sunday.
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Exxon Mobil, the world's largest public oil company, makes a record $25bn profit in 2004 on the back of surging oil prices.
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Like most oil companies, Exxon benefited from a near doubling of oil prices, as well as higher demand for gasoline last year.
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The government awarded $385 million in grants last week aimed at jumpstarting ethanol production from nontraditional sources like wood chips, switchgrass and citrus peels. What's surprising is that half of the six projects chosen will use a process first discovered almost a century ago to turn coal into a gas.
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(MENAFN) An official at the International Energy Agency (IEA) said that an extra 3 million barrels per day (bpd) of production capacity worldwide is needed to avoid another year of blistering oil prices, Reuters reported.
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ExxonMobil  CEO Rex Tillerson  told Reuters on Tuesday he expected Russia to live up to  agreements to enlarge the territory of the Sakhalin 1 project  to include new oil discoveries.
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China will spend about $3.4 billion over two to three years laying thousands of miles of oil pipelines to help secure its energy supply in the face of soaring prices and demand.
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ConocoPhillips  said it still  expects a long-term compounded annual production growth rate of  3 percent including oil from the partnership with EnCana Corp.  , announced earlier on Thursday.
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British mogul Richard Branson pledged to spend three billion dollars in the next 10 years on a variety of projects to combat global warming and reduce dependence on fossil fuels.
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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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MOSCOW: Us oil major ConocoPhillips is seeking to buy up to 25% in Russian oil giant Lukoil to add billions of barrels of reserves to its books, an industry source familiar with the matter said on Friday.
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The world&#39;s oil supply is expected to be stretched thin for another two to three years, even as demand tapers off and the industry gears up for an exploration and production spending spree in 2005.
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The Organization of Petroleum Exporting Countries is likely to keep production at a 25-year high to prevent shortages during the US winter and lower prices, OPEC officials said.
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Oil and gas deep under the Gulf of Mexico should boost Gulf production considerably over the next decade, the government says. New deep-water wells poised to start production
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ExxonMobil Chemical today announced that the company will build a new facility at its Baton Rouge, Louisiana, complex to produce specialty compounded products.