Archive | Oil & Gas

ENI says Libya oil output back to pre-war levels

Italian group Eni's oil output in Libya is almost back to its pre-conflict levels at 260,000 barrels per day, Chief Executive Paolo Scaroni said on Saturday. "Output has now gone back to its pre-war levels. It was 270,000 bpd (before the war), now it's 260,000 bpd," Scaroni told journalists in Tripoli. Scaroni also said Eni […]

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Conoco Books Tanker to Ship Libyan Oil to U.S., Shipbrokers Say

ConocoPhillips booked an oil tanker to haul Libyan crude to the U.S. as the North African country boosts output following the overthrow of Muammar Qaddafi last year, data from shipbrokers including Poten & Partners show. The Donat, a 1 million-barrel carrier owned by Zadar, Croatia-based Tankerska Plovidba DD, was hired to load 135,000 metric tons […]

Libya issues tender to buy oil products in Feb -trade

Libya's National Oil Corporation (NOC) has issued a tender to buy gasoil, fuel oil and liquefied petroleum gas (LPG) for delivery in February, traders said on Thursday. Meanwhile, prior negotiations for the supply of up to 3 million tonnes each of gasoil, gasoline and fuel oil in 2012 are still underway, according to traders. Traders […]

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Libya's Lanuf refinery to start up "within months"

Libya's largest refinery, Ras Lanuf, will resume output within months and will be expanded to double its current capacity over four years, a joint venture partner said on Tuesday. Abdul Aziz Al Ghurair's Dubai-based group set up a joint venture with the Libyan National Oil Corporation in 2009 -- the Libyan Emirati Refining Co -- […]

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Sonde seeks partner to develop Zarat

Canadian independent Sonde Resources is looking for a partner to help fund its development of a block off North Africa, either through a joint venture or a stake sale, the company’s chief executive said. Sonde announced on Monday that it had received a one-year extension on the first phase of its exploration efforts in the […]

Business in Libya: Don't rip us off

AS THEY bounce around Tripoli in beat-up cars on potholed roads, past peeling colonial facades and breeze-block houses, Libyans often rue their country’s misspent wealth. “This should be like Dubai,” they say. Owing to decades of quixotic rule under Muammar Qaddafi, it is not. And it won’t be soon, despite the lifting in December of […]

Genel ups stake in Kurdistan block, looks to Libya

Oil firm Genel Energy said it agreed to buy a controlling stake in a Kurdistan oil block for $94 million, upping its exposure to the semi-autonomous region of Iraq, as it also confirmed it was looking to Libya for new opportunities. The company said it struck two deals to raise its stake in the Chia […]

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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. […]