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LONDON (Bloomberg) -- Libyan oil production has fallen below 300,000 bpd after Islamist militants shifted attacks to energy facilities including the country’s largest oil export terminal, said Energy Aspects Ltd. Output is the lowest since May and down at least 65% from a recent high of 850,000 bopd in October following the assault on the Es Sider terminal, according to the Energy Aspects estimate. Libya holds Africa’s largest oil reserves.
LONDON (Bloomberg) -- Libyan oil production has fallen below 300,000 bpd after Islamist militants shifted attacks to energy facilities including the country’s largest oil export terminal, said Energy Aspects Ltd. Output is the lowest since May and down at least 65% from a recent high of 850,000 bopd in October following the assault on the Es Sider terminal, according to the Energy Aspects estimate. Libya holds Africa’s largest oil reserves.
Wintershall halts onshore oil production in Libya TRIPOLI, Libya Wintershall has suspended onshore production in Libya' s concessions C96 and C97 until further notice. With armed hostilities taking place at more and more oil export facilities, the Libyan National Oil Company
Wintershall halts onshore oil production in Libya TRIPOLI, Libya Wintershall has suspended onshore production in Libya' s concessions C96 and C97 until further notice. With armed hostilities taking place at more and more oil export facilities, the Libyan National Oil Company
LONDON and NEW YORK (Bloomberg) -- Oil advanced for the first time in three days amid speculation that an escalating conflict in Libya may pare a global surplus that’s driven crude into a bear market.
ES SIDER, Libya (Bloomberg) -- The force defending oil ports in eastern Libya pushed back an onslaught that Islamist militias had started 11 days ago to capture the facilities. “We pushed them back and it’s we who are now attacking them,” Ali al-Hasy, a spokesman of the Petroleum Facilities Guard, said by phone from Es Sider, Libya’s largest oil port. “The oil ports are safe and they suffered no damage. All the fighting took place well outside the ports.”
LONDON and NEW YORK (Bloomberg) -- Oil advanced for the first time in three days amid speculation that an escalating conflict in Libya may pare a global surplus that’s driven crude into a bear market.
ES SIDER, Libya (Bloomberg) -- The force defending oil ports in eastern Libya pushed back an onslaught that Islamist militias had started 11 days ago to capture the facilities. “We pushed them back and it’s we who are now attacking them,” Ali al-Hasy, a spokesman of the Petroleum Facilities Guard, said by phone from Es Sider, Libya’s largest oil port. “The oil ports are safe and they suffered no damage. All the fighting took place well outside the ports.”
LONDON -- Afren plc has received a preliminary approach from Seplat Petroleum Development Company regarding a possible combination with Afren.
JUBA, South Sudan -- CNPC and South Sudan' s Ministry of Petroleum and Mining signed an MOU on EOR cooperation in Juba, the capital of South Sudan, on Dec. 17. According to the MOU, CNPC will utilize its EOR technology to work with the operators of three blocks to increase crude production in South Sudan, and provide relevant training to technicians from the Ministry of Petroleum and Mining.
TRIPOLI, Libya (Bloomberg) -- Libya’s oil output fell below its own consumption as fighting spread to Mellitah, a region that hosts the country’s fourth largest oil port. National Oil Corp. already this month declared force majeure at two export terminals, Es Sider and Ras Lanuf, after an attempt by Islamist militias to capture them. Force majeure is a legal status that protects a company from liability when it can’t fulfill a contract for reasons beyond its control.
Circle Oil makes significant gas discovery offshore Morocco LIMERICK, Ireland Circle Oil has made a significant gas discovery following the preliminary results of drilling of the well KSR 12 in the Sebou Permit, onshore Morocco. The well is located within
DUBAI -- Polarcus has signed a Letter of Intent with Perenco Oil & Gas Gabon S.A. for a 3D marine seismic acquisition project offshore West Africa.
WASHINGTON -- Based on crude oil market assessments in the Short-Term Energy Outlook, EIA estimates that members of OPEC, excluding Iran, will earn about $700 billion in revenue from net oil exports in 2014, a 14% decrease from 2013 earnings and the lowest earnings for the group since 2010.
HOUSTON -- FMC Technologies has received an order from Star Deep Water Petroleum Limited (a Chevron company), operator of the Agbami field, to provide subsea equipment for operations in the Agbami field, offshore Nigeria. The Agbami field is located 70 nautical miles (113 km) off the coast of the central Niger Delta region, at a water depth of approximately 4,800 ft (1,463 m).
TRIPOLI, Libya (Bloomberg) -- Libya, the holder of Africa’s largest crude reserves, halted exports from two of its biggest oil ports as rival forces battled to control the nation’s main revenue source. National Oil Corp, the state-run oil company, declared force majeure at Es Sider and Ras Lanuf, Libya’s largest and third-largest oil ports, with a combined capacity of 560,000 bpd. Force majeure is a legal status that protects a company from liability when it can’t fulfill a contract for reasons beyond its control.
MILAN, Italy -- Eni has completed the production test on the Minsala Marine 1 NFW, located in the Marine XII Block offshore Congo, 35 km from the shoreline and 12 km from the recent Nené Marine discovery.
Swiber wins $710 million worth offshore field development award in West Africa SINGAPORE Swiber Holdings has made its first foray into the offshore oil and gas market in West Africa by securing an award from a Houston based oil and
Record oil tankers sailing to China amid stockpiling signs NAOMI CHRISTIE LONDON (Bloomberg) The number of supertankers sailing to China jumped to a record in ship tracking data amid signs that the oil price crash is spurring the Asian nation
VAALCO Energy commences drilling at Etame field HOUSTON VAALCO Energy announced the completion of the Etame 8 H, the first development well drilled from the newly installed Etame platform, offshore Gabon. The Etame 8 H was drilled to a Measured
RWE Dea increases production volumes plans for further exploration in Egypt CAIRO, Egypt RWE Dea doubled its oil and gas production in Egypt. At the company’s own booth (Central Hall, Stand A2) and the technical program, Dea will present technology
Eni hits first oil at West Hub development, offshore Angola MILAN, Italy Eni has started production of first oil from the West Hub development project in block 15 06 in the Angolan deep offshore, approximately 350 km northwest of Luanda
ALGIERS (Bloomberg) -- Algeria will press ahead with its $90 billion investment plan in the North African country’s oil and gas industry even with crude prices trading near five-year lows, said the head of state-run energy producer Sonatrach.
South Africa, Mozambique study $6 billion gas pipeline PAUL BURKHARDT and ANDRE JANSE VAN VUUREN CAPE TOWN (Bloomberg) South African and Mozambican state owned investment companies have joined with SacOil Holding Ltd. to study a $6 billion pipeline from a
SEDCO Express to drill offshore Nigeria for CAMAC Energy HOUSTON CAMAC Energy has signed a contract with a subsidiary of Transocean for the provision of the semi submersible drilling unit Sedco Express for drilling and completion activities offshore Nigeria. The
