Archive | Oil & Gas

Eni Raises Long-Term Oil And Gas Output Growth Target to 3%

Eni SpA (ENI), Italy’s largest oil producer, increased its long-term growth target for oil and gas production as it steps up investment. The company sees output gaining more than 3 percent a year through 2015, it said in a presentation to investors posted on its website today. New projects may allow for growth of 3 […]


Libya’s NOC Seeks to Sell Liquefied Petroleum Gas for This Year

Libya’s state-run National Oil Corp. is seeking to sell liquefied petroleum gas for delivery this year, a tender document obtained by Bloomberg News showed. The shipments are for loading from the ports of Zueitina and Mellitah, according to the document. Bids for the tender closed on March 7 and are valid until March 25. (Source: […]

Pure Technologies Q4 profits, revenues sink on cessation of Libyan operations

Pure Technologies Ltd. says fourth-quarter profits plummeted, largely due to a halt of operations in Libya, a country rebuilding after a bloody civil war. The Calgary-based company, which provides technology for monitoring pipelines and other infrastructure, said Thursday that its profits sank to $1.4 million, or three cents per share, from $2.5 million, or seven […]

Libya NOC Crude Shipments in 2012 Reach 70.9 Million Barrels

Libya’s state-run National Oil Corp. exported 70.9 million barrels of oil from Jan. 1 to March 13, the company said on its website today. Libya’s domestic crude consumption in the same period was 8.29 million barrels, Tripoli-based NOC said. Of the quantity shipped, Italy received 25.5 million barrels, the largest single share of the total, […]

Wintershall aims for higher sales, profits in 2012

BASF subsidiary Wintershall said it expects to raise turnover and profit in 2012 provided this year's crude oil prices are the same as in 2011 and given that it reopened oil operations in Libya that caused losses last year. The oil and gas company said that it achieved turnover of 12.1 billion euros ($15.8 billion) last […]

Gonzi addresses London-based investors as visit comes to an end

Prime Minister Lawrence Gonzi this morning addressed a business breakfast in London, where he touched upon Malta's strengths and was questioned about Libyan opportunities, economic crises and oil exploration. The event, hosted at Corinthia Hotel in London, brought together some 50 members of the Malta Business Network, which launched its website today at the British […]

OPEC Output Rises to Three-Year High on Saudi Arabia, IEA Says

OPEC’s crude oil production rose for a fifth month to the highest in more than three years as Saudi Arabia and Libya boosted supply, according to the International Energy Agency. The 12 members of the Organization of Petroleum Exporting Countries produced 31.42 million barrels a day of crude last month, the most since October 2008, the Paris-based agency […]

Fine balance sought at oil summit in Gulf

Oil producers and consumers meet tomorrow in Kuwait to discuss growing threats to supply, rising prices and an uncertain outlook for the global economy. Energy ministers and executives of oil companies from 88 nations, including the UAE, will gather as Brent, the European benchmark crude, trades at US$125.98 a barrel, about a dollar short of last […]