Oil

Force majeure lifted at the El Sharara oilfield

Libyan state oil company (NOC) announced the lifting of force majeure at the El Sharara oilfield . The decision was taken after the operating company Akakus had received written assurance…

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Weather conditions force Libya to shut oil export terminals

Libya’s oil exports have been suspended as bad weather conditions forced the OPEC country to shut all its export terminals, a local shipping agent and a Libyan oil source told…

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Qatar to quit OPEC

Qatar will quit Opec from next year, a group that it has been a part of since 1961, the country’s energy minister said on Monday. Saad al-Kaabi told reporters the…

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US ExxonMobil to conduct test drills for hydrocarbons off the coast of Cyprus despite Turkey’s warning

US energy giant ExxonMobil said on Friday it plans to conduct test drills for hydrocarbons off the coast of Cyprus later this year despite Turkey warning international firms against exploration.…

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Turkey set to start drilling its first Mediterranean based oil well

AA: Turkey, with the aid of the country's first drilling vessel, Fatih, will drill its first well in the Mediterranean this year Fatih, Turkey's Energy and Natural Resources Minister Fatih Donmez…

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Oil Trading in Libya under scrutiny

Libya Observer: The Chairman of the National Oil Corporation (NOC), Mustafa Sanallah, stated on Wednesday that the parallel Oil Corporation in east Libya has a history of manipulating oil prices and…

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Thursday’s Morning Briefing

Good morning, The arrival of MV Lifeline in Malta, the agreement for a Putin-Trump summit and the elimination of Germany from the World Cup are among the most salient news…

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OPEC countries to increase oil production

OPEC issued a communique on Friday that called on a return to 100 percent compliance for the group, down from 152 percent in May. The announcement deferred country-specific allocations, likely because they…

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Pope Francis says oil companies should convert to clean fuel

Meeting the energy needs of everyone on Earth, must be done in ways that avoid creating environmental imbalances resulting in deterioration and pollution gravely harmful to our human family, both…

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Libya exports first natural gas shipment to Italy after four years

The National Oil Corporation (NOC) shipped on Wednesday its first quantity of propane gas from the Zueitina port to Italy, estimated at approximately 61,761 barrels. The NOC said in…

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