Tuesday, December 2, 2014
IEA URGING OIL PRODUCERS TO BOOST INVESTMENT IN NEW PROJECTS to meet anticipated rise in demand, avoid future price spikes .... Statoil halting exploration offshore Angola after poor results .... Pakistan backed out of Iran-to-India natgas pipeline project. Uncertainty over Iran sanctions, lack of money .... Nigeria wants Shell to pay $3.6B for spill 4 yrs ago. Nigeria also plans to cut petrol products subsidies by 1/2 next year .... SEC investigating Petrobras on money laundering, kickback scheme .... Venezuela to cut public spending because of lower oil prices. Shortages of food, other goods already .... ND oil production 1.18Mb/d in Sept .... Over 300M motorists now in China. 100M added in last 4 yrs. 23M new vehicle sales this year .... France to phase out diesel for private use. ~80% of French drive diesel cars.
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