Archive | Oil & Gas

Libya’s oil industry improving rapidly after war

Libya’s oil industry is recovering from this year’s war at a much faster rate than many people had hoped. The revenue earned from the energy sector will ultimately pay for the reconstruction of this war-damaged nation. Before the conflict, it was producing 1.6 million barrels of oil a day. The fighting pretty much shut down […]

Italy’s ENI resumes 70% of its Libya oil output

Italian oil giant ENI, the top producer of Libyan crude, has resumed production of about 70 percent of its pre-conflict output from the North African country, its chief Paolo Scaroni said Thursday. “We are close to 200,000 barrels a day” of oil equivalent including gas, Scaroni said at the World Petroleum Congress in Doha. Current […]

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Total Sees Libya Output at 1.5 Million Barrels a Day in 2012

Libya’s oil output will reach 1.5 million barrels a day by mid-2012, according to the Chief Executive Officer of Total SA, Christophe de Margerie. Total has been too pessimistic in its estimates of the Libyan oil industry’s recovery after the armed conflict in the North African country, he said today in Doha, Qatar. The Paris- […]

BP, Shell Plan to Resume Exploration, Boost Production in Libya

BP Plc and Royal Dutch Shell Plc, Europe’s biggest oil companies, aim to resume exploration in Libya, whose new government seeks to stabilize relations with foreign companies following the ouster of Muammar Qaddafi. Both companies are evaluating whether to resume drilling at wells begun in the North African state before the outbreak of hostilities at […]

Repsol says pumping 200,000 oil barrels a day in Libya

Spain’s oil company Repsol said on Tuesday its resumed production in Libya has reached around 200,000 barrels a day after war in the North African nation had slashed its output. “It is around 200,000 barrels a day, from a total of 340,000, which means around 60 percent of total production and it is going up,” […]

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Turkish Oil Company Eager to Resume Work in Libya

The head of the Turkish Petroleum Corporation, TPAO, office in Libya, Ahmet Tandircioglu has been reported saying that his company was eager to resume its oil exploration and other projects in the new Libya.  The TPAO executive said that the companies that served TPAO suffered losses and damages during the eight-month long armed conflict that […]

Qatari Investments in Libya accounting for around USD 10 billion

Before the collapse of the Libyan regime led by Gaddafi, several Libyan-Qatari agreements were concluded covering common investments that exceed USD 10 billion. After the National Transitional Council (NTC) took power in Libya, the Qatari Government started to observe cautiously, like all the other countries that supported the NTC, the size of its projects and […]

OMV Libya output back to half of prewar level

Austrian energy group OMV’s output from Libya has reached half the level it was before the civil war halted production, Chief Executive Gerhard Roiss said. “At the moment we are at 50 per cent of the pre-war level,” or at around 17,000 barrels per day (bpd), he told reporters on Friday, reiterating his view that […]

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