الهروج للعمليات النفطية ... عطاء رقم 31/2013 شراء وتوريد أنابيب تغليف آبار

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Released:  30/01/20152015-01-30
Word count:  302

(Reuters) - Oil prices dipped on Friday following slight gains in the previous session and analysts said the outlook remained weak, with production high and producers reducing operating costs to adjust to lower export revenues.

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Global oil prices had firmed slightly on Thursday but not before U.S. crude hit a near-six-year low and benchmark Brent pared gains on data showing fresh additions to record-high U.S. oil inventories.

Benchmark Brent crude oil futures opened Friday's trading little changed at $49.15 a barrel and had slipped to $49.03 by 0433 GMT. U.S. WTI futures were trading at $44.58 a barrel, barely changed.

The market found some support from China, where new commercial crude reserves regulations are likely to boost import demand in the short term.

Chinese refineries will be expected to store enough crude for 15 days of average throughput, the country's top economic planner said this week, forcing many commercial oil traders to import crude in the short term to meet the requirements.

Although the new criteria will only have to be met gradually over a period of one to three years, depending on the age of each facility, traders said many refiners would take the opportunity to cover their stocks soon, while prices are low.

Despite this short-term support from China, analysts said the overall market outlook remained weak as producers were keeping output high and adjusting to a lower-price environment.

"It looks increasingly difficult to see any voluntary supply cutbacks in commodity markets," ANZ bank said in a research report. "Falls in currencies and energy costs will allow many energy and bulk commodity producers to ride out this weakness."

However, oil prices have found support around current levels since the beginning of the year.

With gains above $50 a barrel for Brent unlikely in current conditions, price swings have been less pronounced since the beginning of the year.

The Volatility Index from front-month Brent crude contracts has fallen from around 65 points at the beginning of the year to just over 53 points currently, its lowest since 2009.

(Editing by Alan Raybould)
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Released:  30/01/20152015-01-30
Word count:  200

HAMBURG, Jan 28 (Reuters) - A Libyan state grain buying agency is still in talks on international tenders to buy 50,000 tonnes of milling wheat and 25,000 tonnes of rice but payment issues due to political turmoil have prevented a deal, European traders said on Wednesday.

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The agency issued the tenders on Jan. 14 and no purchases have yet been made, traders said. Two governments allied to armed factions are vying for control of Libya four years after the toppling of former leader Muammar Gaddafi. The United Nations and Western powers do not recognise the administration which controls ministries in Tripoli.

"I was offered payment in the tender from a bank in Tunisia which did not work out," one European grain trader said. "Another offer is being made with funds from a large bank in Tripoli."

Another trader added: "They still want to buy but the payment problems are hindering a sale. A new payment offer is being made."

Wheat with 12 percent protein content was sought in the tender, they said. It is possible that a combination of 25,000 tonnes of wheat flour and 25,000 tonnes of wheat could be purchased, all for shipment to Tobruk, traders said.

The white rice was sought in 25 kg bags with a maximum 5 percent broken grain content, they said.

Libyan wheat purchases have been restrained in recent months, despite the country's large import requirements, with the conflict in the country disrupting ports and commercial activity.

(Reporting by Michael Hogan, editing by David Evans)  
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Released:  29/01/20152015-01-29
Word count:  289

(Reuters) - Oil remained weak in Asia on Thursday after data showing record U.S. stockpiles sent prices tumbling to the lowest level in nearly six years in the previous session and analysts said a global glut would continue to keep the market under pressure.

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The U.S. Energy Information Administration (EIA) said domestic crude oil stocks rose by almost 9 million barrels last week to reach nearly 407 million, the highest level since the government began keeping records in 1982.

"The market expects stockpiles to keep rising, pushing front-month prices further down as refineries enter maintenance season and are likely run at lower utilisation rates," ANZ said in a note.

Prices on Thursday stuck close to the previous settlement levels. Brent LCOc1 was trading at $48.65 a barrel at 0255 GMT while U.S. crude CLc1 was at $44.54, versus the low of $44.08 hit on Wednesday, the weakest since April 2009. Analysts said the outlook remained weak, especially with demand slowing in China.

"The Chinese government is moving away from the post-2008 investment binge and gradually moving towards a more moderate but sustainable consumption-led economic growth," Wood Mackenzie said on Thursday.

"2014 was the fourth straight year of a decoupling relationship between China’s GDP and oil demand growth as the effects of the 2009 stimulus began to fade," it said, adding that it "expects industrial recovery and related investment will remain subdued in 2015-2016".

Swiss bank UBS said cheap oil would not provide a big boost to Asian economic growth.

"Big, big drops in oil; small effects on economies ... Cheap oil should give a small boost to Asian GDP, but not really enough to warrant major changes in growth forecasts," it said.

Researchers at Energy Aspects said in a note that "a new normal is in the making for China — slower and less oil-intensive growth".

They added that "oil consumption in China will become more efficient, leading to slower demand growth of around 0.2-0.3 million barrels per day compared to expectations of above 0.5 million".

(Editing by Michael Perry and Alan Raybould)  
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Released:  28/01/20152015-01-28
Word count:  598

(Bloomberg) -- OPEC’s secretary-general said oil prices as high as $200 a barrel are possible if producers fail to invest in new supply.

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“If you don’t invest in oil and gas, you will see more than $200,” Abdalla El-Badri said in an interview in London on Monday, without giving a timeframe. West Texas Intermediate, the U.S. crude benchmark, erased a decline of as much as 2.7 percent following his comments. Crude prices tumbled 46 percent last year as Saudi Arabia and other members of the Organization of Petroleum Exporting Countries said they wouldn’t curb output in response to a supply glut caused in part by surging U.S. shale oil production. The International Energy Agency, the Paris-based adviser to 29 nations, said Jan. 21 that a decline in prices may deter investment in all types of energy.

“He is raising a valid concern that falling investments due to the current price collapse may leave us with little oil coming out of the ground in a few years,” Ole Sloth Hansen, an analyst at Saxo Bank A/S in Copenhagen, said by e-mail Monday. Prices as high as $200 probably won’t happen because “a move back above $100 will bring the shale oil drillers out in force as they can relatively quickly react to rising prices.”

West Texas Intermediate for March delivery advanced 11 cents to $45.26 a barrel in electronic trading on the New York Mercantile Exchange at 1:03 p.m. Singapore time. Brent crude climbed 0.3 percent to $48.30.

Price Spike

“I think the sudden oil spike we saw earlier is linked to the El-Badri comments,” Giovanni Staunovo, a commodity analyst at UBS Group AG in Zurich, said by e-mail Monday. “Particularly the ones where prices could hit $200 with insufficient investments and the fact that they’re open to talks with non-OPEC to balance the market.”

There’s an oversupply of about 1.5 million barrels a day on the oil market and OPEC is open to a meeting with nations outside the 12-member group to tackle the glut, El-Badri said. The market will be brought back into balance by a reduction in supply, rather than an increase in demand, he said.

Investment in oil production will fall by $100 billion, or 15 percent, this year compared with 2014, Fatih Birol, chief economist at the IEA, said at the World Economic Forum in Davos, Switzerland on Jan. 21. This means oil at $45 a barrel will be a temporary phenomenon, he said.

Drilling Rigs

U.S. crude production rose to 9.19 million barrels a day on Jan. 9, the fastest pace in at least three decades, according to the Energy Information Administration, the Energy Department’s statistical arm. The boom was driven by a combination of horizontal drilling and hydraulic fracturing, or fracking, which has unlocked supplies from shale formations including the Eagle Ford and Permian in Texas and the Bakken in North Dakota. As prices slumped, oil drillers reduced the number of rigs operating in the U.S. to the lowest in two years, according to data from Baker Hughes Inc. Companies idled 49 U.S. oil rigs last week, bringing the total to 1,317, in the seventh weekly decline, it said Jan. 23.

“The current price cannot sustain non-OPEC supply where it was going the last year or so,” Robert Campbell, head of oil products research at London-based Energy Aspects Ltd., said by phone from New York Monday. “This is not just U.S. shale, this is all sorts of places: North Sea, Russia.”

Most projects to develop oil resources in OPEC members will proceed at current prices, although some may be canceled, El-Badri said.

To contact the reporter on this story: Grant Smith in London at gsmith52@bloomberg.net

To contact the editors responsible for this story: Alaric Nightingale at anightingal1@bloomberg.net James Herron, Stuart Wallace  
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We arrange Following Bank Instruments Letter of Credit ( LC) From Various Banks in Singapore / HongKong / Europe /USA Used For Import / Export Business and Trade Finance . 90/180DAYS Bank Guarantee ( BG ) Fresh Cut Slightly Seasoned Seasoned Stand By Letter of Credit ( SBLC ) 90DAYS / 180/ 365DAYS Thank you. gomez Richard Contact: gomezfinance70@gmail.com Skype ID: gomezfinance75

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Released:  28/01/20152015-01-28
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(Reuters) - Oil fell more than 1 percent on Wednesday as the dollar strengthened in early Asian trade, while an industry report showing a larger-than-expected rise in U.S. crude inventories also dragged on prices.

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Crude futures settled up more than 2 percent on Tuesday when the dollar index posted its biggest fall since early October amid soft U.S. data that cast doubts about the underlying optimism on the outlook for the world's biggest economy. [USD/]

"The key driver for oil prices in the last few days has been currency fluctuations ... we had seen some weakness in the U.S. dollar which help support prices overnight," Ric Spooner, chief analyst at CMC Markets in Sydney said. "Oil eased a little bit in the Asian time zone, possibly reflecting the fact that the dollar is a little bit stronger."

Brent crude LCOc1 hit a low of $48.79 a barrel and was down 68 cents at $48.92 by 0255 GMT. U.S. crude CLc1 was at $45.41 a barrel, down 82 cents, after earlier hitting $45.33.

Brent has traded in a $48-$50 range in the past week, pushed either way by currency changes amid a lack of fundamental news to drive prices.

Investors are looking ahead to official U.S. inventory data due later on Wednesday.

The American Petroleum Institute said late on Tuesday that U.S. crude inventories rose 12.7 million barrels last week, triple the volume expected. [API/S] [EIA/S]

A persistent global supply glut has already dragged down oil prices by around 60 percent since June last year. "The overall expectation is that global supply is outstripping demand at the moment and so unless we see some really substantial changes to inventory numbers, oil prices are probably not going to move too much," Spooner said, adding that Brent is supported at $47.60 a barrel in the short term.

(Editing by Himani Sarkar)  
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We arrange Following Bank Instruments Letter of Credit ( LC) From Various Banks in Singapore / HongKong / Europe /USA Used For Import / Export Business and Trade Finance . 90/180DAYS Bank Guarantee ( BG ) Fresh Cut Slightly Seasoned Seasoned Stand By Letter of Credit ( SBLC ) 90DAYS / 180/ 365DAYS Thank you. gomez Richard Contact: gomezfinance70@gmail.com Skype ID: gomezfinance75

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Released:  27/01/20152015-01-27
Word count:  67

After a six month hiatus due to heavy fighting, commercial flights from Libya to Europe have recommenced.

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Libyan carrier Afriqiyah scheduled a service that flew from Tripoli’s Matiga airport to Düsseldorf and the airline plans to fly to Rome shortly.

Turkish Airlines had tried to resume operations last year, but an escalation in fighting centred on the airport forced a withdrawal.

There is currently a flight ban by the European Union, but Libyan carriers can contract operating planes registered in the EU.  
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We arrange Following Bank Instruments Letter of Credit ( LC) From Various Banks in Singapore / HongKong / Europe /USA Used For Import / Export Business and Trade Finance . 90/180DAYS Bank Guarantee ( BG ) Fresh Cut Slightly Seasoned Seasoned Stand By Letter of Credit ( SBLC ) 90DAYS / 180/ 365DAYS Thank you. gomez Richard Contact: gomezfinance70@gmail.com Skype ID: gomezfinance75

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Released:  27/01/20152015-01-27
Word count:  110

Khartoum - An Agreement to activate exports between Sudan and Libya was signed during the Khartoum International Fair, in the presence of more than 14 Libyan companies.

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Al-Sheikh Saeed Saleh signed on behalf of the Libyan side, while Director General of the National Agency for Exports Insurance and Financing, Salah Al-Din Sheikh Khidir signed for Sudan.

The agency deputy director general, Al-Hadi Abdullah said that the agreement aims to exchange information between the two sides on global markets and stand on the business and marketing opportunities for the two countries, as well as cooperate in the fields of exports studies, and organising lectures to facilitate the performance of exporters in the two countries.

He added that the agency aims, in the framework of this agreement, to export goods, especially live cattle, red meat and sesame to Lbya.
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Released:  26/01/20152015-01-26
Word count:  157

To all Suppliers Please be advised that the date of receiving Pre-Qualification Documents is extended to 28/02/2015. However, any supply company who did not participated before can still send their documents before the end of extension date.

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Any supply company who do not participate in this Pre-qualification will not be considered on our List of Suppliers and it will not be allowed to participate in any bidding after the 28th of February 2015.

 

Courier address as follows:

Head-Tender Committee (NWD)

National Oil Well Drilling & Work Over Company

Omar El Mukthar Street, Besides Libya Hotel,

Tripoli, Libya PO Box 1106 Tripoli.

Tel. 00218 3368740 – 42 connecting all dept.

Fax No. 00218 4446743

www//http: NWD-LY.COM

 

 Chairman of Bidding Committee (NWD) 

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We arrange Following Bank Instruments Letter of Credit ( LC) From Various Banks in Singapore / HongKong / Europe /USA Used For Import / Export Business and Trade Finance . 90/180DAYS Bank Guarantee ( BG ) Fresh Cut Slightly Seasoned Seasoned Stand By Letter of Credit ( SBLC ) 90DAYS / 180/ 365DAYS Thank you. gomez Richard Contact: gomezfinance70@gmail.com Skype ID: gomezfinance75

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Released:  26/01/20152015-01-26
Word count:  463

Oil prices will rebound rather than extend their decline to as low as $20 a barrel because a collapse since June isn’t merited by global supply and demand, OPEC’s Secretary-General said.

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Producers outside the Organization of Petroleum Exporting Countries should be first to reduce their output amid a surplus that’s pushed crude below $50 a barrel, Abdalla El-Badri said in an interview with Bloomberg Television at the World Economic Forum in Davos, Switzerland on Wednesday. Iraq, OPEC’s fastest-growing supplier, said it needs to boost output to compensate for revenues eroded by the price slump.

“The price will not go to $20 or $25, I think the price will stay at where we are now,” El-Badri said. “We have seen this before -- prices coming down very fast and go up very slow. But prices will rebound.”

Oil slumped almost 60 percent since June as OPEC nations continued pumping amid the highest U.S. production in more than three decades. The 12-nation group’s decision on Nov. 27 to maintain output was based on economics, and wasn’t intended to target U.S. shale drillers, Russia or any other country, El-Badri said.

Brent slid 16 cents, or 0.3 percent, to $48.87 a barrel on the London-based ICE Futures Europe exchange at 12:28 p.m. Singapore time. West Texas Intermediate lost 33 cents to $47.45.

First Movers

Non-OPEC nations, some of which require prices of $100 a barrel to sustain output, should be first to pull back as their production has expanded over the past decade while OPEC’s remained stable, El-Badri said. OPEC decided in November that, if it cut supply, rising non-OPEC output would have required it to make successive reductions through to 2016, he said.

Iraq, OPEC’s second-biggest member, has lost about 50 percent of its revenues because of the slump in oil and consequently needs to bolster output, Deputy Prime Minister Rowsch Nuri Shaways said Wednesday at the WEF in Davos.

“Because of the new challenges, especially the price of oil, Iraq has to try its best to raise it oil production and exports,” Shaways said.

An agreement last month between the country’s federal government and the semi-autonomous Kurdish region will boost exports by more than 550,000 barrels a day, he said. The nation is pumping at about 4 million barrels a day, already a record, Oil Minister Adel Abdul Mahdi said Jan. 19.

OPEC and non-OPEC producers must keep investing in new supplies despite the price plunge, El-Badri said. Without sufficient spending in additional capacity over the next five years, oil prices could rebound above $100 a barrel.

OPEC’s crude output rose by 80,000 barrels a day last month to 30.48 million as additional oil from Iraqi fields more than offset a collapse in Libyan production, the International Energy Agency said in its monthly market report Jan. 16.

To contact the reporters on this story: Francine Lacqua in London at flacqua@bloomberg.net; Grant Smith in London at gsmith52@bloomberg.net

To contact the editors responsible for this story: Alaric Nightingale at anightingal1@bloomberg.net James Herron
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Released:  26/01/20152015-01-26
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(Reuters) - Commercial flights from Libya to mainland Europe resumed after more than six months on Saturday with a Libyan carrier taking off to Germany, the airline said.

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Foreign airlines stopped flying to Libya in July when a faction called Libya Dawn attacked a rival group controlling Tripoli's main airport, taking control of the capital after a month of fighting.

Libya Dawn has set up a rival government and forced the internationally recognized Prime Minister Abdullah al-Thinni to the east.

The airport and some 20 planes were damaged during the fighting, officials have said.

Turkish Airlines briefly returned last year to fly to Misrata, east of Tripoli, before halting flights this month due to repeated air strikes on the airport, part of a struggle between Libya's two governments.

On Saturday, a Libyan state carrier Afriqiyah plane flew from Tripoli's Matiga airport to Duesseldorf, the airline and the German airport said. The airline also plans to fly to Rome in the coming days, it said.

To circumvent a flight ban by the European Union, Libyan carriers need to contract firms operating planes registered in the EU.

With no foreign carriers serving Libya, state carriers operating a depleted fleet struggle to meet demand for tickets. Connections are limited to Turkey and neighboring countries, some of which like Egypt do not allow flights to Tripoli, which is under control of the rival government.

The main eastern airport Benghazi has been closed since May due to fighting in the city.

The United Nations and most Western and Arab countries evacuated their diplomats in the summer during fighting between factions who are battling for control of the oil-producing state four years after the fall of Muammar Gaddafi.

(Reporting by Ulf Laessing; Editing by Rosalind Russell)  
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Released:  23/01/20152015-01-23
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Jan 22 (Reuters) - Oil prices will not fall to $20 or $25 a barrel, OPEC Secretary-General Abdullah al-Badri said in an interview with Bloomberg.

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"The price will not go to $20 or $25, I think the price will stay at where we are now," Badri said, Bloomberg reported.

Producers outside the Organization of Petroleum Exporting Countries (OPEC) should be first to reduce their output to remove a global surplus, Badri said, rather than OPEC.

OPEC decided against cutting its own output at a meeting in November, a move that helped to extend a slide in oil prices.

Oil on Wednesday was trading below $50 a barrel, down almost 60 percent since June.

(London energy desk; Editing by Mark Potter)
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Released:  23/01/20152015-01-23
Word count:  390

(Reuters) - Oil prices jumped in Asian trading on Friday as news of the death of Saudi Arabia's King Abdullah added to uncertainty in energy markets already facing some of the biggest shifts in decades.

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Abdullah died early on Friday and his brother Salman became king, the royal court in the world's top oil exporter and birthplace of Islam said in a statement carried by state television. U.S. benchmark WTI crude futures rose more than 2 percent to a high of $47.76 a barrel, but had eased back to $47.09 by 0135 GMT. International Brent crude futures rose to a high of $49.80 a barrel shortly after opening before easing back to $49.35 a barrel by 0152 GMT, up 1.71 percent.

"The fear of the unknown is going to be supportive to crude oil prices," said John Kilduff, partner, Again Capital LLC in New York.

"King Abdullah was the architect of the current strategy to keep production high and force out smaller players instead of cutting," he added.

Kilduff also said that the new king was known as a defender of Saudi Arabia's interests and that the market would expect him to keep production high.

The Saudi King's death comes amid some of the biggest shifts in oil markets in decades.

Oil prices have more than halved since peaking in June last year as soaring supplies clash with cooling demand, due to economic slowdown in Europe and Asia as well as improvements in energy efficiency, made during times of high prices.

Booming U.S. shale production has turned the United States from the world's biggest oil importer into one of the biggest producers, producing more than 9 million barrel per day. To combat soaring output and falling prices, many oil exporters, such as Venezuela, wanted the 13-member Organization of the Petroleum Exporting Countries (OPEC) to cut output in order to support prices and revenues.

Yet, led by Saudi Arabia, OPEC announced last November it was keeping output steady at 30 million barrels per day.

Brent, which had already fallen to $77 per barrel by the time of the OPEC meeting, dropped another quarter over the next month as the market digested the fact OPEC would not come to the rescue.

OPEC's decision not to act, led by Saudi Arabia, was aimed at defending market share against U.S. shale producers as well as other non-OPEC exporters such as Brazil or Russia.

(This story was corrected to say the United States is one of the top oil producers in paragraph 8, and not the biggest)

(Additional reporting by Robert Gibbons in New York; Editing by Ed Davies)  
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Released:  23/01/20152015-01-23
Word count:  457

AS Solution and Damasec Global Group have established a new joint venture in Libya to provide a wide range of personal protection, security and travel logistics services for multinational corporations, governmental organizations and NGOs.

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AS Solution and Damasec have joined forces on the ground in Libya to provide a wide range of security services and travel logistics solutions to the corporations, governmental organizations and NGOs who continue to operate in Libya despite the country’s current complex security situation.

The joint venture integrates two sets of competencies into one security solution: Damasec’s extensive, on-the-ground experience and security knowhow in Libya, and AS Solution’s global expertise in executive protection and secure travel services for multinational corporations.

Al Aman is part of the Damasec Global Group, and is a key element of the joint venture. Al Aman is one of only two companies licensed to operate with armed protection services in Libya. Given the situation in Libya, Al Aman’s capacities in understanding the country’s complex security scenarios, managing information and developing professional networks are crucial to successful security operations.

The joint venture combines the use of internationally trained and vetted Libyan nationals with expat security management to provide security solutions that are comprehensive, flexible and scalable. Services include work force protection, site protection, personal/VIP protection, transport/convoy protection and all forms of secure travel logistics, including cars, drivers, handling visas and work permits, hotel security, threat assessments and other supportive operations.

“We are very pleased to be part of this comprehensive setup,” says Damasec CEO Henrik Faerch. “AS Solution brings a unique approach to this security concept, which builds on their years of experience working for Fortune 500 companies. AS Solution’s ability to think ahead while maintaining a low profile and adapting to corporate as well as local cultures is unsurpassed. And their staff’s real-world experience in so many security areas – including operations, training and consulting – means that we have been able to provide world-class security solutions in Libya extremely quickly.”

AS Solution also sees great potential in this setup. According to CEO Christian West, Damasec is a perfect match for this type of operation in Libya.

“Everyone who has been following developments in Libya over the last few years knows what a difficult place it is to do business,” explains Christian West. “Damasec has the Libyan experience, local knowhow, local capacity and network to get things done – even when the situation is incredibly difficult. With this cooperation, we can meet the clients at their plane, help them through immigration, get them where they need to go, and protect them where they work and live – and anywhere in between. For us, it’s all about keeping people safe, productive and happy wherever their jobs take them.”

For more information please contact:

AS Solution: Christian West, CEO; Phone +1 425 296-3017; Email: cw(at)assolution(dot)com

Damasec Global Group: Henrik Faerch, CEO; Phone: +45 7023 0093; Email: hf(at)damasec(dot)com
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Released:  22/01/20152015-01-22
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DAVOS, Switzerland, Jan 21 (Reuters) - The head of Italian energy company Eni Spa urged OPEC on Wednesday to act to restore stability in oil prices, which he warned could overshoot to $200 per barrel several years down the road because of low investment now.

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Claudio Descalzi told Reuters Television he expected prices to stay low for 12-18 months but then start a gradual recovery as U.S. shale oil production began falling.

Oil prices have sunk by almost 60 percent since June to below $50 a barrel due to a large supply glut. The price slide accelerated after the Organization for Petroleum Exporting Countries (OPEC) decided in November not to cut production.

Speaking on the sidelines of the World Economic Forum in Davos, Switzerland, Descalzi said the oil industry will cut capital spending by 10-13 percent this year as a result of the oil price collapse.

However, he said the world should avoid a further massive drop in investment in oil exploration and production as it would create oil shortages in the future, leading to price spikes.

"A lot of our projects are long term to have production in five or six years. And that is a problem. If you are cutting capex (capital expenditure) drastically now - we can have a lack of production in four or five years creating a new increased oil price at $200 maybe," Descalzi said.

"What we need is stability... OPEC is like the central bank for oil which must give stability to the oil prices to be able to invest in a regular way."

The chief executive of French oil major Total echoed Descalzi's warnings earlier on Wednesday.

(Writing by Dmitry Zhdannikov and Ron Bousso in London; editing by David Evans)  
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Released:  21/01/20152015-01-21
Word count:  229

(Reuters) - Oil prices edged up on Wednesday in a further sign of support around current levels, but analysts fretted that the outlook for the next six months remained bleak due to oversupply.

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Oil fell as much as 5 percent on Tuesday after the International Monetary Fund cut its 2015 global economic forecast and key producer Iran hinted prices could drop to $25 a barrel without supportive OPEC action. Prices stabilised on Wednesday, with traders pointing to buying this week whenever benchmark Brent crude oil LCOc1 dropped towards $48 a barrel. Brent was trading at $48.44 a barrel at 0413 GMT, up 45 cents from its last settlement, while U.S. crude CLc1 was up 48 cents at $46.95 a barrel.

But analysts said they expected low prices to continue for the next half-year.

"We see little scope for avoiding a large stock build in 1H15 and therefore anticipate weak prices ... Commodity price strength is inversely related to the dollar. With the U.S. in monetary tightening mode and Europe and Japan in an expansive phase, an expected stronger dollar will create headwinds for any upward oil price improvement," BNP Paribas said in a note overnight.

Lower oil prices are bringing down inflation in many countries, especially Asian and European economies that have to import to meet a lot of their demand.

"Headline inflation rates have come down sharply in developed economies because of low oil prices ... The global low-inflation environment has created room for policy easing in key economies, most notably in the euro area," U.S.-based Pira Energy Group said in an overnight note.

(Editing by Joseph Radford)  
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We arrange Following Bank Instruments Letter of Credit ( LC) From Various Banks in Singapore / HongKong / Europe /USA Used For Import / Export Business and Trade Finance . 90/180DAYS Bank Guarantee ( BG ) Fresh Cut Slightly Seasoned Seasoned Stand By Letter of Credit ( SBLC ) 90DAYS / 180/ 365DAYS Thank you. gomez Richard Contact: gomezfinance70@gmail.com Skype ID: gomezfinance75

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Released:  21/01/20152015-01-21
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The Maltese branch of FCM Travel Solutions has announced flights to Tripoli, beginning today, the Libya Herald has announced.

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The company has been flying a Medavia 19-seater plane on charter flights between Malta and Tripoli's Mitiga Airport for two months on an ad-hoc basis.

A company working in the oil and gas sector in Libya has recently chartered FCM for several flights a week. Because the client does not need all 19 seats, the flights will have several seats available for sale to others. Tickets for all additional seats on Monday's flight have already been sold.

An official with the company's Malta office told the Libya Herald that the flights will be announced weekly, dependent on conditions in Tripoli and at Mitiga Airport, which has seen some shelling during recent conflict.

Flights originating in Libya have been banned from flying to Europe or even entering European airspace. When asked about this the company official told the Libya Herald that this does not apply to charter flights.

Meanwhile, Afriqiyah Airways also announced that it will resume direct flights between Mitiga and Dusseldorf, Germany, on 24 January, operating one flight a week. There has been no announcement that the EU ban has been lifted, so it is unclear how this will be allowed. Afriqiyah Airways could not be reached for a comment.
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Released:  21/01/20152015-01-21
Word count:  697

The U.S. benchmark crude price, down more than $60 since June to below $45 yesterday, is on the way to this next threshold, said Societe Generale SA and Bank of America Corp. And Goldman Sachs Group Inc. says that West Texas Intermediate needs to remain near $40 during the first half to deter investment in new supplies that would add to the glut.

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“The markets are continuing to price in huge oversupply in the first half of 2015,” Mike Wittner, head of research at Societe Generale SA in New York, said by phone on Jan. 12. “We’re going to go below $40.”

Oil is seeking a “new equilibrium” as the Organization of Petroleum Exporting Countries abandons its role of keeping supply and demand aligned, according to Goldman. Prices are poised to drop further, testing the ability of U.S. shale drillers to keep pumping.

WTI fell as low as $44.20 a barrel on the New York Mercantile Exchange yesterday and closed today at $48.48. The U.S. benchmark has dropped 10 percent this month, extending a 46 percent plunge last year that was the worst since the 2008 financial crisis.

OPEC Strategy

OPEC is trying to maintain its share of the global oil market against the rise of U.S. output. United Arab Emirates Energy Minister Suhail Al Mazrouei reiterated yesterday that shale producers will capitulate before OPEC to lower prices, the latest in more than a dozen comments from Gulf members aimed at hastening oil’s slide and lowering non-OPEC supply. The group upheld its target of 30 million barrels a day at a meeting in Vienna on Nov. 27.

The rout may continue to $35 a barrel in the “near term” because both oil supply and demand will have a delayed reaction to falling prices, Francisco Blanch, head of commodities research at Bank of America in New York, said in a report on Jan. 6.

The U.S. is pumping oil at the fastest pace in more than three decades, helped by a drilling boom that’s unlocked supplies from shale formations including the Eagle Ford in Texas and the Bakken in North Dakota. U.S. output expanded to 9.14 million barrels a day in the week ended Dec. 12, the most since at least 1983, according to the U.S. Energy Information Administration.

Reducing Investment

With Saudi Arabia and other OPEC nations no longer fine-tuning supply, reductions in investment in new production will be the instrument for removing excess output, Jeffrey Currie, head of commodities research in New York at Goldman said in a report on Jan. 11. This means the collapse will be deeper and the recovery slower than in previous slumps, he said.

Operating cash costs for many non-OPEC projects are below $40 a barrel and some producers will be able to keep going because they have locked in forward prices, or are supported by tax breaks or weaker domestic currencies, said Blanch, who on Nov. 27 predicted that WTI, then above $70 a barrel, could plunge to $50. An increase in demand in response to lower prices will take about six months, he said.

“An impatient oil market, wanting to see production adjustments as soon as possible, could push WTI oil prices to $40 a barrel,” Giovanni Staunovo, an analyst at UBS AG in Zurich, said by e-mail yesterday. Investment “cutbacks and less drilling activity are required to see a stall in North American supply growth. This is unlikely to happen in a meaningful way before the second half,” he said.

Cutting Supply

While U.S. drilling activity has slowed down in response to the price plunge, it will take months for that to translate into lower supplies, according to Societe Generale’s Wittner. Rigs seeking oil in the U.S. decreased by 61 to 1,421, Baker Hughes Inc. said Jan. 9. That’s the largest drop since February 1991.

“Rig counts are coming down, so it is happening the way it’s supposed to happen,” Wittner said. “But it’s going to take a while to see an impact on shale oil.”

A seasonal lull in demand this quarter will add to the downward pressure from brimming inventories, pushing down prices as much as another $10 a barrel, Amrita Sen, chief analyst at London-based consultant Energy Aspects Ltd. said in an interview on Bloomberg Radio’s “Surveillance” on Jan. 12.

“There is likely to be another leg lower for prices,” said Sen. “I wouldn’t rule out a peek into the $30s.”

To contact the reporter on this story: Grant Smith in London at gsmith52@bloomberg.net

To contact the editors responsible for this story: Alaric Nightingale at anightingal1@bloomberg.net; Dan Stets at dstets@bloomberg.net Dan Stets  
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News Releases

News Releases Oil & Gas News
Released:  20/01/20152015-01-20
Word count:  344

(Reuters) - Oil markets dipped on Tuesday as China's economic growth for 2014 undershot a government target and hit its weakest annual expansion in 24 years, adding to worries in energy markets already suffering from slowing demand and oversupply.

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The world's second-largest economy grew 7.4 percent last year, China's National Bureau of Statistics said, less than the target of 7.5 percent. Growth in the fourth quarter held at its weakest in nearly six years, although coming in slightly better than expected at 7.3 percent.

Brent crude was trading at $48.80 per barrel at 11.03 p.m. ET, down just four cents since their last settlement, while U.S. crude was trading down $1.24 at $47.45 a barrel.

China's GDP figures brought about mixed sentiment as slower growth indicated a negative outlook for oil demand in the short-term, said Daniel Ang, investment analyst at PhillipCapital in Singapore. However, he added that industrial production seemed better, showing a potential improvement in the long-run.

"Moving forward, EU and Germany economic sentiment survey, which is due to be released later (on Tuesday), may have a greater impact on oil prices," he said.

Germany's leading ZEW economic sentiment survey is scheduled to be published at 5.00 a.m. ET.

Shortly after China's economic data, the International Monetary Fund lowered its forecast for global economic growth in 2015 and called for governments and central banks to pursue accommodative monetary policies and structural reforms to support growth.

Recent price falls have steepened the price difference between oil for immediate delivery and for barrels for supply at a later stage, known as a contango.

"Producers globally are struggling to find buyers for their crude, which is reflected in the contangos in the Brent and WTI futures curves," Barclays said in a note.

Brent's contango between deliveries in March this year and a year later is currently around $10 per barrel.

"Refiners will run any crude that is economically and technically possible to make a margin while margins are attractive (although product stocks are piling up)," Barclays said. Additional crude is going into storage to be sold at higher prices in the future, the bank added.

Credit rating agency Moody's said on Tuesday that the low oil prices could negatively affect Southeast Asian exploration and production companies.

(Additional reporting by Lee Rou Urn; Editing by Joseph Radford, Tom Hogue and Gopakumar Warrier)  
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News Releases

News Releases
Released:  20/01/20152015-01-20
Word count:  118

The government in Beida has announced that small Kheroba airbase south of Marj is to become an international airport.

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Libya herald
The move should ease congestion at Labraq which now serves as the main international airport not only for Cyrenaica but for much of Libya, with people even travelling from Tripoli to catch flights to Jordan and Egypt.

The move is likely to be welcomed in Benghazi, just 85 kilometres away, where Benina airport remains shut because of continuing clashes. It is thought that even when sthe fighting is over it will take many months before it can again start operating.

The only problem is Kheroba’s size. The runway is just 1,400 metres long which limits the type of aircraft that can use it. It is too short for an Airbus 320 or a Boeing 737 with a full payload taking off.  
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News Releases

News Releases Oil & Gas News
Released:  19/01/20152015-01-19
Word count:  317

(Reuters) - Oil prices fell in early Asian trade on Monday, with markets expecting gloomy Chinese economic data to be published this week.

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Chinese new home prices fell an average 4.3 percent year-on-year in 68 of the 70 major cities monitored. That was an appetizer to Tuesday's report on gross domestic product which is expected to show China's annual growth slowed to 7.2 percent in the last quarter, meaning full-year growth would undershoot Beijing's 7.5-percent target and would be the weakest in 24 years.

In Europe, the main event of the week will be Thursday's meeting of the European Central Bank (ECB), which is considered almost certain to see the launch of a government bond-buying campaign, pointing to further euro falls against the dollar as well as to downward pressure on oil prices.

"Commodity markets to be driven by currency markets and expectations of ECB quantitative easing this week," ANZ bank said in a note on Monday.

Benchmark Brent crude futures were trading at $49.75 per barrel at 0225 GMT, down 42 cents since their last settlement. U.S. crude was trading down 37 cents at $48.32 a barrel.

Oil prices have dropped by more than half since last June as production around the world has soared while demand slows. Although the International Energy Agency (IEA) said that a reversal in trend was possible this year, it added that prices may fall further before the market begins to rise again.

Analysts said that prices would likely rise away from levels below $50 per barrel, but many noted that the longer-term outlook was for oil prices to remain at lower levels than in recent years.

"We do not subscribe to the theory of US$20/bbl (barrel) oil. The price may go down to the US$30/bbl level for a short while, but it will bounce back," research firm Facts Global Energy (FGE) said in its January note to clients.

"We will be in the US$60-80/bbl price range till end of the decade," it added.

U.S. markets will be shut on Monday for a public holiday.

(Editing by Joseph Radford)
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