Archive | Oil & Gas

Libya’s oil exports to hit 800,000 bpd in Jan-NOC

Libya’s oil exports are set to rise to 800,000 barrels per day in January, a senior source at the National Oil Corporation (NOC) told Reuters on Thursday. This compared to exports of around 500,000 bpd in December. The NOC expects to deliver between 40 and 45 cargoes of crude oil this month, the source said. […]

Trade boom with Libya on Lebanon’s horizon

Libya’s recent decision to lift its economic embargo on Lebanon will boost bilateral trade and open up opportunities for businesses in Libya’s reconstruction and energy sectors, experts said. A statement issued by the newly appointed Libyan Cabinet announced the decision earlier this week. The Cabinet has also lifted a similar trade embargo on Switzerland. “We […]

Libya NOC To Export About 700,000 B/D On Average In January -Oil Chief

Libya’s National Oil Co. is planning to increase crude exports to about 700,000 barrels a day on average in January, its chairman said Monday, as the war-torn nation brings relief to markets jittered by U.S.-Iranian tensions. Speaking to Dow Jones Newswires, Nuri Berruien said “the monthly average will be roughly 700,000 barrels a day, plus […]

Italy Last Among Libya’s ‘Friends’ for New Oil Concessions

Libya’s new leaders will remember who provided the most help in overthrowing Muammar Qaddafi when it comes to new oil concessions. Italy, the biggest investor in the country, may find itself at a disadvantage. Libya has the world’s ninth-largest proved reserves of oil, estimated at more than 46 billion barrels, according to the Central Intelligence […]

Libya opens door to UAE oil companies

UAE oil and gas companies are positioning themselves for a move into Libya, encouraged by assurances that they will receive preferential treatment as payback for the Government’s support of anti-Qaddafi forces during last year’s civil war. “We have been told very clearly: the authorities are encouraging UAE and Qatar companies. They want to give them […]

Libya respects oil deal, including Shell’s-OilMin

Libya’s interim oil minister, Abdulrahman Ben Yazza, said his government respected Gaddafi-era oil contracts with foreign oil companies including those signed with Royal Dutch Shell Plc. “Libya respects all signed contracts, including those signed with Shell oil company,” state news agency quoted Yazza as saying during a meeting this week with the Dutch ambassador. Yazza […]

Libyan NOC to Export 9.71 Million Barrels of Crude This Week

Libya’s National Oil Corp. will export 9.71 million barrels of crude this week, a company official said. NOC shipped 4.13 million barrels in the week ended Jan. 4, Ahmed El-Mihoub, an official at the company’s crude oil and natural gas marketing department, said in an e-mail from the capital Tripoli. Breakdown of shipments for week […]

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