Post Tagged with: "Oil"

on January 28, 2013 at 22:01 / in Business

Strike keeps Libya’s main oil refinery shut after fault -traders

Jan 28 (Reuters) – Libya’s main oil refinery, Ras Lanuf, remained offline on Monday due a workers’ strike, after the 220,000 barrels per day plant was shut down last week due to a technical fault, traders said. A note was sent to clients in the afternoon to say that employees [...]

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on January 25, 2013 at 11:48 / in Business

Libya’s silence on oil deals a setback for transparency

By Jessica Donati and Marie-Louise Gumuchian (Reuters) – Libya will not reveal the details of its oil sales this year, National Oil Corporation (NOC) officials told Reuters this week, stepping back from pledges to deliver greater transparency after the corruption of the pre-revolutionary regime. Oil producers commonly keep the details [...]

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on January 18, 2013 at 20:34 / in Opinion

Opinion: Libya Is Messy. So Was Eastern Europe in 1991.

By Ali Tarhouni Two years ago, I was the son of a broken nation. For almost 40 years, I fought to bring freedom and basic human rights to Libya, only to see the regime of Muammar Qaddafi gain acceptance into the international community as the oppression continued. I despaired of [...]

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on January 18, 2013 at 20:15 / in News

Libya steps up security at oil fields after Algeria attack

(Reuters) – Libya is beefing up security around its oil and gas installations in the western and southern areas bordering Algeria, following this week’s attack on an Algerian desert gas complex, a statement from the oil protection force said. “Due to the events in the region, the Petroleum Faculty Guard [...]

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on December 18, 2012 at 14:03 / in Business

Contraband suspicions keep Libyan militias on high alert for Malta vessels

‘Cargo’ trawler was kept under arrest at Khoms over suspicions of fuel smuggling – witness By Matthew Vella A fishing trawler that was converted into a cargo boat was suspected of smuggling contraband marine diesel oil, when Libyan rebel militias were called in to place the vessel under arrest. The [...]

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on December 17, 2012 at 13:11 / in Business

Eni to Invest $8 Billion to Develop Libya Operations

By Gilles Castonguay Italian energy company Eni SpA (ENI.MI) Sunday said it planned to invest $8 billion in Libya over the next 10 years to develop its production activities as well as conduct more exploration in the north African country. Eni made the announcement after its chief executive, Paolo Scaroni, [...]

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on December 7, 2012 at 15:48 / in Business

PM Gonzi hopes for energy agreement with Libya

By Mark Micallef The Prime Minister has expressed hope that Malta would reach an energy agreement with Libya with a view to secure oil purchases from the North African state. He was addressing a news conference at the Radisson in Tripoli following a meeting with Libyan Prime Minister Ali Zeidan, [...]

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on November 27, 2012 at 22:31 / in Business

Libya oil ministry proposes shake-up of key industry

* Ministry proposes creation of two separate bodies in Tripoli and Benghazi * Exploration and production would be separated from refining By Marie-Louise Gumuchian TRIPOLI, Nov 27 (Reuters) – Libya’s oil ministry is proposing to separate the OPEC member’s exploration and production activities from refining, shaking up the running of [...]

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on November 13, 2012 at 00:35 / in Government

France eyes Libya deals after unfreezing $2 bln assets

France said on Monday it was ready to start releasing almost $2 billion in frozen assets belonging to Libya’s sovereign wealth fund, as it looks to secure investment from the oil-producing nation. France’s Foreign Minister Laurent Fabius made the announcement during a visit to Tripoli, the latest in a series [...]

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on November 12, 2012 at 14:35 / in Government

French ministers in Libya to discuss cooperation in oil sector

Two French ministers were en route to Libya Monday to discuss a possible Libyan takeover of a troubled French oil refinery, dpa reported. The French Foreign Ministry said the visit by Foreign Minister Laurent Fabius and his counterpart in charge of industry, Productive Recovery Minister Arnaud Montebourg, aimed to show [...]

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on November 7, 2012 at 23:56 / in Business

Libya’s NOC targets 1.72 mln bpd oil by end-March

* Says protests caused brief outage at El-Sharara field * Aims for 2.2 mln bpd output within five years * Libya to increase refining capacity, look for shale gas (Adds detail on refining capacity) By Emma Farge VIENNA, Nov 7 (Reuters) – Libya’s National Oil Corporation (NOC) aims to boost [...]

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on October 1, 2012 at 21:43 / in Opinion

Disarming the streets to rebuild Libya

At first glance of the television screen, it looks to me like a normal scene from a Middle Eastern open air market or souk. But I pause, look more closely and it is anything but normal. You see Libyans lining up from Benghazi to Tripoli to turn in rifles, pistols, [...]

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on September 3, 2012 at 19:29 / in Business

Oil and gas revenues for the year 2012 total $54.9 billion

The Libyan National Oil Corporation (NOC) announced on Sunday that the country’s oil and gas revenues for the year 2012 total $54.9 billion. According to a press release by NOC, the revenues are calculated according to an average daily oil production at 1.350 million barrels per day at a price [...]

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on August 31, 2012 at 14:04 / in Business

Libya’s largest refinery restarts after war closure

LONDON (Reuters) – Libya’s largest oil refinery, Ras Lanuf, has resumed operating after shutting during the uprising that ousted Muammar Gaddafi last year, traders said on Friday. The refinery, which accounts for well over half of the country’s oil processing capacity, was offering two cargoes of jet fuel for loading [...]

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on August 14, 2012 at 17:08 / in Business

Libya’s largest refinery Ras Lanuf to restart by Aug 28

LONDON (Reuters) – Libya’s largest refinery, Ras Lanuf, will restart by August 28, according to a senior National Oil Corporation (NOC) official, after months of delays that freed up additional volumes of crude oil for export and weighed on markets for light, sweet grades. The prolonged outage at Ras Lanuf, which [...]

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