Archive | Oil & Gas

Libya boosts oil output but dangers lurk

Two major oil companies in Libya say they expect to restore their pre-war production levels by the end of the month, just in time to help pick up the slack for energy-hungry Europe if Persian Gulf crude supplies are cut off in the confrontation between Iran and the West. Other firms make equally optimistic forecasts […]

The business outlook

When will be the best time for a multi-sector trade promotion mission from Britainto go to Libya? To find the answer to that question a small group from the Libyan British Business Council of which I am a deputy chairman spent last week in Libya, my own first visit since the revolution. My main impressions […]

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 […]