NOC and CNPC explore cooperation and investment opportunities.
The NOC delegation, headed by chairman Eng. Mustafa Sanalla, was welcomed by CNPC’s vice president and president of PetroChina, Hou Qijun, and the chairmen of CNPC’s subsidiaries.Mr Hou expressed China and CNPC’s direct interest in progressing cooperation in Libyan exploration and development, oilfield services, and trading of Libyan crude, with…
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JulSaudi Arabia crude production hits four year low as export targets shift.
The U.S. Energy Information Administration (EIA) reports that Saudi Arabia’s crude oil production approached a four-year low in May 2019, averaging an estimated 9.9 MMbpd, more than 1 MMbpd lower than its all-time high in November 2018. Production in Saudi Arabia dropped following a December 2018 agreement by members of…
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JulOil prices strengthen more than 1% on Iran risk
Oil prices rose more than 1% on Monday, as investors worried about possible supply disruptions in the energy-rich Middle East after Iran’s seizure of a British tanker last week. Brent crude LCOc1 futures climbed 79 cents, or 1.3%, to settle at $63.26 a barrel. West Texas Intermediate (WTI) crude CLc1…
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JulLibya’s NOC signs Mou with Schlumberger.
Libya’s state National Oil Corporation (NOC) announced on Tuesday that as part of its focus on upskilling the next generation of oil sector workers, it has signed a Memorandum of Understanding on Monday, July 15, 2019, with “the world’s leading oilfield services provider” Schlumberger, to establish a specialised training and…
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JulVenezuela mimics Iranian sanction-evasion tactics
IRAN remains undeterred by unilateral US sanctions on its crude exports, with a shipment of oil currently heading for Syria after a ship-to-ship transfer eight days ago. But it seems Venezuelan vessels may now be using similar methods in the same area off Malaysia to disguise the origin and destination…
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