14

Jun

Foreign firms seek to renew Libya licences

  Foreign firms have started to renew their business licences with Libya’s internationally recognised government to keep operating in the country. In an interview with Reuters, Ali Abdulaziz Issawi, the…

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19

May

Instability could lead to 95% oil production loss in Libya

    Mustafa Sanalla, Libya's National Oil Corporation (NOC) chief, told reporters in Jeddah that the  continued instability in Libya could make it lose 95% of its oil production. Currently…

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15

May

Cyprus expresses anger at UK about comments on offshore economic rights

  President Nicos Anastasiades of Cyprus said his government would lodge a complaint to British Prime Minister Theresa May over remarks by Britain's Foreign Office minister that Nicosia considers"unacceptable" remarks.…

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24

Apr

No increase in Saudi Arabian oil output for now

The Financial Times is reporting that Saudi Arabia will not rapidly ramp up its oil output after the US ended the sanctions waivers for buyers of Iranian crude. This was…

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22

Apr

US to end exemptions from sanctions for countries buying oil from Iran

US Secretary of State Mike Pompeo announced the State Department will not renew sanction waivers for countries importing Iranian oil. The increased pressure on Iran comes nearly one year after…

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10

Apr

Italian companies in energy sector leave Tripoli… ISIS attack in Fuhaqa

The Libya Observer reported that the President of the Italian-Libyan Chamber of Commerce, Gianfranco Damiano confirmed that part of the Italian companies operating in the oil and gas sector and…

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04

Apr

Utilities prices across Europe enjoy windfall in view of excess liquified natural gas

The Financial Timesb reports that utilities across Europe are enjoying a windfall, as a gas glut caused by excess liquefied natural gas shipments from Asia drives prices to multi-year lows. A…

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05

Mar

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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06

Jan

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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03

Dec

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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07

Oct

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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29

Jul

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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28

Jun

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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28

Jun

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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22

Jun

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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09

Jun

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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25

May

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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