Opec reaches deal to raise oil output by 1 million barrels per day from July.
When it comes to crude oil prices, politics dwarfs everything else. The Organization of the Petroleum Exporting Countries (OPEC) agreed to increase its daily output to address the problem of rising crude oil prices. Saudi Arabia’s Energy Minister Khalid al Falih announced that the cartel’s output would be increased by…
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JunNOC holds launch event for Benghazi oil conference in October.
The National Oil Corporation (NOC) held an official launch event and announced in a press conference at the Arabian Gulf Oil Company the launch of Benghazi International Forum and Exhibition of Oil and Gas 2018 which will be held in Benghazi from 9 to 11 October. The NOC states that…
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JunLibya’s NOC talks to BP and Eni about resuming exploration.
Libya’s National Oil Corporation (NOC) has held discussions with majors BP (BP.L) and Eni (ENI.MI) about resuming exploration activity in the North African country. BP signed a major exploration deal in Libya in 2007 but put its onshore plans on hold in 2014 because of security concerns following Libya’s…
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MayLibyan oil production moves higher for Hess Corp.
Total production from OPEC-member Libya improved more than 400 percent compared with the same period last year. Production from Libyan assets during the first quarter of the year expanded exponentially from last year’s levels, U.S. Energy Company Hess Corp. said. Hess reported net production from its assets outside Libya…
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MayProduction at Libya’s Sirte Oil at 61,000 bpd.
Oil production at Sirte Oil Co, a subsidiary of Libya’s state-owned National Oil Corp (NOC), now stands at 61,000 barrels per day (bpd), a senior official said Mohamed Aoud said that Sirte hoped to raise production to 90,000 bpd but the company lacked some equipment needed to boost output….
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