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  1. Sizing up Somalia: a new offshore oil frontier in the making
  2. Chinese oil refineries run at over 100% capacity amid Covid-19
  3. Chesapeake Energy files for bankruptcy with $7bn outstanding debt
  4. UK oil and gas industry announces pathway to reduce emissions
  5. BP takes hit of up to £14bn as Covid-19 crisis impacts oil demand

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The US leads global liquids storage industry

GlobalData’s latest report, “Global Liquids Storage Industry Outlook to 2024 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Terminals” says that the global liquids storage capacity increased from 1,175,206.0 mcm in 2014 to 1,276,127.1 mcm in 2019 at an AAGR of 1.6%.

Chinese oil refineries run at over 100% capacity amid Covid-19

China's state-owned crude oil refineries (Sinopec, PetroChina, CNOOC, and Sinochem) have increased their crude oil refining rates from an average of 76% in May to 80% of capacity in June, as profit margins increase, a survey by energy analysis company S&P Global Platts showed.

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