Tag Archives | oil production

Libyan PM seeks Exxon Mobil, Microsoft investment

Libyan Prime Minister Abdurrahim al-Keib appealed to U.S. companies, such as Exxon Mobil Corp. and Microsoft Corp., to invest in his oil-rich country, saying Italian and French companies are already moving quickly to take advantage of opportunities in energy and infrastructure. “The new Libya is open for business,” he said Friday in an interview during […]

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. […]

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 […]

Oil production increasing slower than expected

The International Energy Agency (IEA) stated that Libyan oil production is progressing faster than anticipated but it was unlikely to reach pre-conflict output levels before 2013. This is in contrast to official Libyan estimates which suggest oil output levels could be fully restored by June 2012.