Minister of Oil and State Minister for National Assembly Affairs has said that Kuwait’s production of the crude oil did not drop less than 2.8 million barrels per day in August, adding meantime that Kuwait’s current output capacity stands at 3.50 million barrels per day (bpd).
Five international oil companies have returned to Libya and are working on getting operations running again, the head of the ruling interim council’s stabilisation team, Aref Ali Nayed, said on Friday.
Although Israel is resistant to renegotiating gas prices with Egypt, a new contract was sealed with Jordan which needs the gas despite the risks of interruption due to militant attacks on the pipelines
During a key meeting on Friday, mid-level representatives from all 27 countries in the EU signed off on a ban on imports of oil and petroleum products from Syria. Although the decision must still be approved at ministerial level – a move expected next week – the consensus reached on Friday is the clearest sign yet that the bloc will move forward with the ban, which could be the most damaging sanctions against the regime to date.
An official of the Board of the Oil Corporation of Libya’s National Transitional Council for Foran gas well in field wells Intesar (103) southwest Ajdabiya, a subsidiary of Zueitina.
International oil companies are jockeying for advantage in the new Libya, buoyed by news that damage to the energy infrastructure appears to be slight. But they remain anxious about a lack of security and are holding off sending workers back into the country.
It could take Libya two years to restore oil production to pre-revolt levels, analysts and a former Libyan oil minister said Monday as Western-backed rebels fought to take control of Tripoli
The fighting is not over in Tripoli, but the scramble to secure access to Libya’s oil wealth has begun .Before the rebellion broke out in February, Libya exported 1.3 million barrels of oil a day. While that is less than 2 percent of world supplies, only a few other countries can supply equivalent grades of the sweet crude oil that many refineries around the world depend on.
The U.S. government imposed on Thursday economic sanctions on Syria includes the oil sector, where banned the import of petroleum products originating from the Syrian and put a new set of Syrian companies on the “black list”, most notably the General Petroleum Corporation State-owned and responsible for oil and gas industry in Syria.
Syria, which has banned by the United States the day before yesterday to buy its oil, has important reserves of black gold, although production and exports in steady decline for 15 years. It exports about 40 percent of its oil production to Europe, and invest, especially the French group «Total» The Anglo-Dutch company «Shell» and «China National Petroleum Company ».
