Tag Archives | Repsol

European are not stealing Libya oil, official says

The European Union (EU) is not stealing Libyan oil and investors from Nato countries exited the oil sector during the Gaddafi era, said David Bachmann, commercial counsellor and head of economic and commercial section at the Austrian Embassy in Libya. “We are not stealing Libyan oil. We pay for what we get,” he said. Libya’s […]

Repsol's profit beats forecasts

Madrid Repsol has reported quarterly profit that beat forecasts, easing concerns about the Spanish oil group's ability to fund development projects after Argentina seized its majority stake in energy company YPF. High oil prices, the recovery of production in Libya and strong demand for liquefied natural gas (LNG) in Asia underpinned Repsol's adjusted first-quarter current […]

Higher oil prices, Libya ops boost Repsol profit

Spanish oil company Repsol YPF SA said Thursday its first-quarter net profit--including its Argentine unit--grew 3.5% on the year, largely due to higher oil prices and production in Libya returning to relatively normal levels. Operations restarted late last year in Libya after ceasing in early 2011 and for the duration of that country's civil war. […]

Libya's vast oil potential is still in the grip of flux

Restoration of production to pre-war levels just four months after Col Muammar Gaddafi was killed in the desert has been hailed by the Western backers of the new government. However recent developments have provoked warnings that mismanagement could force the industry into long-term decline. Arabian Gulf Oil Co, the country's largest producer with a near […]

Foreign firms vie for Libya oil industry revival

Libya's first post-war oil and gas exhibition attracted dozens of foreign companies to Tripoli this week, avid to win new business and hopeful that questions about contracts and security will ultimately be resolved in their favour. After a virtual shutdown last year, Libyan oil output has climbed to near pre-war levels of 1.6 million barrels […]

Lower Libya Production Weighs On Repsol YPF Earnings

Spanish oil company Repsol YPF SA (REP.MC) said Wednesday its fourth-quarter net profit declined 90% on-year, thanks largely to extraordinary gains in the 2010 quarter from the sale of a stake in the company's Brazilian unit. Lower production in Libya, where operations restarted in the quarter after ceasing for the duration of that country's civil […]

Repsol profit hit by Libya conflict

Spanish oil company Repsol's net profit fell more steeply than expected in the fourth quarter as production was suspended in Libya by the uprising that overthrew Muammar Gaddafi. Repsol said on Wednesday it lost 220 million euros ($295 million) of production in Libya during the fourth quarter. Quarterly net profit, adjusted for one-off gains and […]

Repsol says pumping 200,000 oil barrels a day in Libya

Spain's oil company Repsol said on Tuesday its resumed production in Libya has reached around 200,000 barrels a day after war in the North African nation had slashed its output. "It is around 200,000 barrels a day, from a total of 340,000, which means around 60 percent of total production and it is going up," […]

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