اتفاقية في مجال التدريب بين ليبيا وبريطانية..

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Oil & Gas News

Oil & Gas News Business News
Released:  18/04/20142014-04-18
Word count:  290

IRN and co-organizer Oliver Kinross met with senior Libyan NOC delegation and the Executive Advisory Committee on 2nd and 3rd April in London at the Charing Cross Hotel to discuss final preparations for the upcoming 3rd Annual New Libya Oil & Gas Forum, taking place in London on 29th-30th May.

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Petroleum Africa
Eng. Mohamed Al-Harari, the Head of Cooperation and Business Development of the Libyan National Oil Corporation, along with Dr. Mohamed S. Ellob, Head of the Downstream Development Committee of the NOC discussed the agenda of the only forum that the NOC is officially endorsing this year with the expert advisory committee.

The Advisory Board was formed with; Eric Butterworth, Board Member at the Libyan British Business Council; David Boote, a consultant geologist that has more than 25 years for Occidental Oil & Gas; Dr Daniel D Clark-Lowes, author of the “Oil & Gas Fields Atlas of Libya” and an expert deeply involved in the Libyan Oil & Gas sector since the 1970’s working with the NOC and Occidental Libya; Ed Evans, who has over 20 years’ experience with oil and gas technologies and is working on global projects for IOCs; Prof. Richard Moody, who has a 50 year experience in the oil and gas industry, 30 of which have been in the Libyan oil and gas sector; and Carlos Venturini who has a 26 year expertise in the global oil and gas E&P industry and specializes in the North African sector.

The 3rd New Libya Oil & Gas Forum will take place on 29th-30th May at the 5* Jumeirah Carlton Tower London Hotel. The two-day agenda will facilitate discussions on the current exploration activities, the geology and petroleum system, case studies on onshore and offshore operations, fiscal regime, development of existent undeveloped fields, future exploration and EOR potential, Libya’s pipelines, HSE standards, petrochemicals and refineries, digital oil and gas technology, upstream and downstream hydrocarbon investments.

BP Libya, Shell, Repsol and Sonatrach Libya (SIPEX) are just some of the international oil companies that will give insights at the forum presenting their onshore and offshore operations in the country.
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Oil & Gas News

Oil & Gas News
Released:  17/04/20142014-04-17
Word count:  349

An oil tanker started loading crude at Libya’s eastern port of Hariga as the region exports oil for the first time since July after civil unrest decimated the North African country’s production and shipments.

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Bloomberg
The Aegean Dignity started to load Hariga terminal at 11 a.m. local time, Mohamed Elharari, spokesman for state-run National Oil Corp., said by phone today. The operation will take about 24 hours. The shipment is for Italy, according to a statement from NOC subsidiary Arabian Gulf Oil.

“This is the first loading in around nine months from any of the rebel-controlled ports in the east and the first concrete positive from the deals announced just over a week ago,” Richard Mallinson, Energy Aspects analyst in London, said by phone yesterday. “But it is worth remembering that the market is only taking this as a very limited positive development” because other terminals remain shut.

Libya, the holder of Africa’s largest crude reserves, has dropped to the smallest producer among the Organization of Petroleum Exporting Countries as unrest deepened since the ouster of Muammar Qaddafi three years ago. The nation, which pumped close to 1.6 million barrels a day until the start of 2011, is now producing 200,000 barrels a day, Elharari said April 14.

Rebels seeking a share in oil revenue for their region took control of four of Libya’s nine oil ports in July. The central government reached an agreement with some rebels earlier this month to open Hariga and Zueitina oil terminals, which have combined capacity of 180,000 barrels a day.

Es Sider, Libya’s largest terminal, and Ras Lanuf are still shut. State-run National Oil is in the process of lifting force majeure on Zueitina, Oil Ministry Measurement Director Ibrahim Al Awami said April 10, referring to the legal step that protects companies from liability when operations are disrupted for reasons beyond their control. Vienna-based oil company OMV AG (OMV) booked the Aegean Dignity tanker to load a cargo of Sarir crude from Hariga between April 15 and 16, two traders said on April 11, asking not to be identified because the matter isn’t public.

To contact the reporters on this story: Nayla Razzouk in Dubai at nrazzouk2@bloomberg.net; Saleh Sarrar in Dubai at ssarar@bloomberg.net

To contact the editors responsible for this story: Alaric Nightingale at anightingal1@bloomberg.net Dan Weeks
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Construction News

Construction News Business News
Released:  17/04/20142014-04-17
Word count:  133

KUALA LUMPUR: Protasco Bhd expects to complete its remaining projects in Libya by the end of this year or beginning of 2015.

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The star online
The construction and engineering services group managing director Datuk Chong Ket Pen had on Thursday reaffirmed Protasco's decision to complete the projects in that country.

In June 2013, Chong was reported saying the company was restarting business in Libya at end-June after exiting the country in 2011. He had then said they had some RM60mil worth of jobs from two contracts in Libya to be done.

"We have written off RM20mil in provision in the past two years for our halted operations in Libya. Our machines are still there. We've been asked to start work by the government and our team has gone back a few times," Chong told StarBiz in June 2013.

He said Protasco's operations in Libya had been profitable until the revolution interrupted its business. Libya is currently undergoing political reconstruction.  
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Business News

Business News
Released:  17/04/20142014-04-17
Word count:  233

Sir Dominic Asquith, former British Ambassador to Libya and now Chairman of the Libyan British Business Council (LBBC), will lead a business delegation to Tripoli from 1-4 June 2014.

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LBBC
LBBC members and other British companies across a range of sectors including fisheries, financial services, healthcare, oil services, power generation, professional services, training, water treatment and even equine veterinary services are invited to take part in the last opportunity to visit Libya before Ramadan (which starts on 29 June) and the summer holiday season.

There are good reasons to visit Libya. Although Libya has yet to launch the major infrastructure projects needed to rebuild and develop its economy, the way business is done there puts a premium on the development of business relationships and trust before major tenders are issued. Those who have shown commitment to the market and have a proven track record with Libyan decision makers will be best placed to win major business in future.

And a number of LBBC member companies who are already in the market have found that this approach is already paying off in the form of preliminary contracts and business. As one company who entered Libya with an LBBC Delegation in 2013 recently told us, “our initial task was small…but having done something here has allowed some conversations to move to the next level…business is there: it just needs to be rooted out and relationships developed”. The LBBC can introduce you too to key Libyan decision makers and start you on the road to new business.

For further information call John Parr (07933 313846) or Pauline Graham (07974 851242).
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Oil & Gas News

Oil & Gas News
Released:  16/04/20142014-04-16
Word count:  258

Arabian Gulf Oil Company (AGOCO) is a fully owned by NOC has drilled the FF2-47 well to a total depth of 7270 feet and tested oil from the Lidam Formation.

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NOC

The well is located in Sirte Basin approximately 80 km south west of Marada Town.

The initial production test flow rates from the Lidam Formation are as follows:

 

Well Name

Formation

Tested Interval

(feet)

Choke Size

(Inch)

Oil Rate

bbls/d

Oil Gravity

API

FF2-47

Lidam

6776-6790

6800-6820

32/64

1900

27

 

Note:

The FF1-47 exploration well was drilled in 1971 and the results were not encouraging where only 65 bbls of oil were recovered and hence it was not considered as a discovery at the time.

 

 published April 14, 2014


 

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Construction News

Construction News Contract News
Released:  16/04/20142014-04-16
Word count:  125

New Delhi, Apr 15: Punj Llyod today said it has won Rs 3,254-crore contract for constructing infrastructure facilities in a Libyan city.

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The Hindu business line
“We wish to inform that the company has been awarded a contract to design and construct infrastructure facilities of Zliten city (Libya),” Punj Lloyd said in a filing to the BSE.

The project involves design and construction of the storm and sewer network, water network, telecommunication and power distribution network, natural gas network, street lighting and road works including landscaping of parks and green areas.

The project covers about 2,400 hectares, almost the entire area of Zliten city and is scheduled to be completed in four years. “The approximate cost of the said project is LYD 665.719 million, equivalent to $540 million or Rs 3,254 crore,” the filing said.

The shares of the company closed at Rs 34.70 a piece, up 0.87 per cent from the previous close on the BSE.
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Oil & Gas News

Oil & Gas News
Released:  15/04/20142014-04-15
Word count:  605

Libya, the OPEC nation producing at about 10 percent of capacity, is set to raise oil shipments next week as a tanker was booked to load crude from one of four ports seized last year by rebels.

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Bloomberg
State-run National Oil Corp. lifted force majeure on the Hariga terminal yesterday, according to a statement on its website. Vienna-based oil company OMV AG provisionally booked a tanker to load as much as a million barrels of oil from the port next week, according to two traders with knowledge of the matter. Hariga has oil in storage ready to export, according to the oil ministry.

Brent crude, a benchmark of half the world’s oil, has fallen about 3 percent this year amid speculation that Libya would restart shipments. The possible return of supply is weighing on prices, said Seth Kleinman, Citigroup Inc.’s London-based head of energy research, after the rebels agreed to surrender the Hariga and Zueitina terminals this week.

“The government is free to start exports from the two ports,” said Ali Al-Hasy, a spokesman for the self-declared Executive Office for Barqa that seeks self-rule for the eastern region. “They are both under the control of the Petroleum Facilities Guard,” he said. The Petroleum Facilities Guard is part of Libya’s defense ministry.

Libya, the holder of Africa’s largest crude reserves, currently ranks as the smallest producer among the Organization of Petroleum Exporting Countries, according to the group’s monthly report yesterday. Fields including Repsol SA-operated Sharara and Eni SpA-operated Elephant are shut as protests over jobs, pay and political rights disrupt operations.

The rebels, who are seeking a share in oil revenue for their region, are led by Ibrahim Al-Jedran, a former commander in the Petroleum Facilities Guard. They still control the ports of Es Sider and Ras Lanuf, which have a combined capacity of 560,000 barrels a day. Hariga and Zueitina together can handle 180,000 barrels a day. Market Overhang

“A resolution to the nine-month standoff may be near but the devil is in the details,” the International Energy Agency said today in its monthly report. “The timing of the resumption could face a multitude of problems and delays.”

OMV has booked, subject to confirmation, the tanker Aegean Dignity to load a cargo of Sarir crude from Hariga between April 15 and 16, said the two traders, who asked not to be identified because the matter is not public.

Robert Lechner, OMV spokesman in Vienna declined to comment when reached by e-mail, citing company policy. Provisional oil-tanker bookings sometimes get canceled.

“The potential resumption of disrupted Libyan exports is also now hanging over the market,” Citigroup’s Kleinman wrote in a report dated April 8. Brent was little changed at $107.37 a barrel on the ICE Futures Europe exchange as of 1:30 p.m. London time. Zueitina Terminal

National Oil is also in the process of lifting Force Majeure on the Zueitina terminal, Al Awami said, referring to the legal clause that protects a company from liability when it can’t fulfill a contract for reasons beyond its control. Hariga and Zueitina have oil in storage, he said on April 8.

The April 6 agreement between the parties stipulates that the government pay the salaries of members of the Petroleum Facilities Guard who defected to the Barqa federalists and carry out an audit of the nation’s oil sales over the past three years since the ouster of Muammar Qaddafi.

“We delivered our part of the deal, we handed over the two ports,” said Al-Hasy. “It’s their turn to deliver.”

Libya produced close to 1.6 million barrels a day until the start of 2011, data compiled by Bloomberg show.

To contact the reporters on this story: Maher Chmaytelli in Dubai at mchmaytelli@bloomberg.net; Sherry Su in London at lsu23@bloomberg.net

To contact the editors responsible for this story: Alaric Nightingale at anightingal1@bloomberg.net James Herron, Rachel Graham

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Business News

Business News
Released:  15/04/20142014-04-15
Word count:  208

Thomas Smith, agents of SDV Logistics in Malta have now also extended representation in Libya. SDV, a member of the Bolloré Group, is a global leader in supply chain management, offering services including logistics, international transport, customs brokerage, warehousing, distribution, and express courier service.

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Malta Independent
Managing Director, Joe Gerada, says “We are investing in our ability to implement an extensive supply chain solution. SDV is already a strong player within Africa, as part of Bolloré Africa Logistics, and it is indeed a pleasure to announce to Maltese-Libya traders that Thomas Smith can assist their business further by coordinating all sub-agents’ and clients’ logistical operations”.

Thomas Smith has been active as logistics provider and also as port agent in Libyan ports, and continues to be, supporting Malta’s role as a logistics hub in the Mediterranean. Thomas Smith Logistics Manager, Ramon Azzopardi, added that post revolution, the organisation took the initiative to engage a Maltese permanent representative in Libya from its own work force, coordinating and monitoring cargo at destination.

SDV ranks among the world’s top 10 in transport and logistics companies, and has a track record of being a high performer with an environmentally responsible approach. The company offers services to industries such as Oil & Gas, Aerospace, Healthcare, Cosmetics and Perfumes, Fashion, Telecom and High Tech. With its headquarters in Paris, France – within Charles de Gaulle Airport’s cargo operation base – the company runs a global network of 540 agencies and employs 32,000 professionals worldwide in 93 countries. SDV services global accounts such as General Electric.
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Oil & Gas News

Oil & Gas News
Released:  14/04/20142014-04-14
Word count:  75

Libya's Zawiya oil port reopens, refinery to restart in 24 hours

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Reuters
(Reuters) - Libya's western Zawiya oil port has resumed operations after protesters vacated the entrance to the facilities and the adjoining refinery will restart in about 24 hours, a spokesman for the state oil company said on Sunday.

The National Oil Corp spokesman added that there were continuing issues with protesters in the area but they hoped to resolve these in the next few hours. (Reporting by Julia Payne and Feras Bosalum; editing by Andrew Roche)
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Oil & Gas News

Oil & Gas News
Released:  14/04/20142014-04-14
Word count:  205

Libya oil exports to recover to 1 mbd by mid June - OPEC chief

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Voice of Russia
Libya's oil exports are likely to quadruple from current levels and hit 1 million barrels per day by mid-June after rebels ended a blockade of two terminals, OPEC Secretary General Abdullah El-Badri said Friday."I think the first one million barrels will come in two months' time, but after a million it will take some time. Because the main challenge now is the security," El-Badri said at an international oil conference in Paris.

The Libyan army announced Wednesday it had taken control of Al-Hariga and Zueitina ports under a deal to end a crippling nine-month blockade by rebels seeking autonomy in the country's east.And on Thursday, Libya's National Oil Co (NOC) lifted a force majeure on Al-Hariga, opening the way for renewed exports from the facility with a capacity of exporting 100,000 barrels per day.

The blockade of four ports had reduced Libyan exports from 1.5 million barrels per day to around 250,000 barrels per day, and has been a key factor in keeping the price of Brent oil above $100 per barrel. Renewed oil exports will restore a much-needed revenue stream for the weak central government following the 2011 overthrow of Moamer Kadhafi.Tripoli says the blockade has cost the country more than $14 billion (10.1 billion euros) in lost revenues.
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Oil & Gas News

Oil & Gas News
Released:  14/04/20142014-04-14
Word count:  45

The Libyan army on Wednesday (April 9th) regained control of the al-Hariga and Zueitina oil ports. Al-Hariga could resume operations as early as Sunday, a port official told AFP.

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Magharebia
Under the deal reached at the week-end, Cyrenaica separatists were to also hand over the Ras Lanuf and Sidra ports within one month.

The seizure of the four eastern oil terminals last July slashed Libyan oil exports from 1.5 million barrels per day to just 250,000 bpd.
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Oil & Gas News

Oil & Gas News
Released:  11/04/20142014-04-11
Word count:  389

ANNOUNCEMENT OF GAS DISCOVERY IN GHADAMES BASIN

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NOC

National Oil Corporation (NOC) announce that Sonatrach (SIPEX) Libya (Operator), Oil India, and Indian Oil being partners in an Exploration and Sharing agreement in area 95/96 signed in May 2008, report initial information concerning the exploration (New Field Wildcat) well C1-96/01 drilled in contract area 95/96 in Ghadames Basin. The well is located approximately 650 km Southwest of Tripoli and 70 km South of El-Wafa Field.

The initial production test result from the Tadrart, Ouan Kasa & Awaynat Wanin Formations is as follow:

Formation

Tested Interval

(feet)

Choke Size

(Inch)

Gas Rate

(MM CF/d)

Condensate

BBL/day

WHP

(PSI)

Tadrart

6,250 - 6,355

32/64

8

114

1,455

Ouan Kasa

6,110 - 6,153

32/64

9

198

1,771

Awaynat Wanin

5,704 – 5,921

32/64

5

160

1,070

ا

The C1-96/01 well is the fourth discovery well in this contract area drilled by the company.

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Oil & Gas News

Oil & Gas News Business News
Released:  11/04/20142014-04-11
Word count:  255

BENGHAZI, Libya – Libyan authorities said Wednesday that two eastern oil ports have been reopened after an agreement with rebels to end their control of the ports.

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Turkish press
"The ports of Zueitina and Hariga were reopened," Libyan army spokesman Ali al-Sheikhi told Anadolu Agency. He, however, said that the two ports have not started operation yet.

Al-Sheikhi said the two ports are now under the full control by the army guards of oil institutions. Militants have been closing oil ports in the eastern Barqa region for months to press the government into applying a federal system in Libya.

Libya's oil production, estimated at 1.4 million barrels a day before the beginning of the eastern ports' crisis, sharply fell to about a fifth by the end of February.

According to a Libyan government statement on April 7, a deal was signed between Ibrahim Jedran, the head of the self-styled Political Bureau of Barqa, and local mediators, including MP Sheria al-Wafi.

Under the deal, the ports of Zueitina and Hariga would be handed over to the government immediately while the Ras Lanuf and Sidra ports would be handed over no later than four weeks from the signing.

The six-point deal stipulates that the Justice Ministry would form a committee to probe alleged financial and administrative irregularities in the oil sector since the fall of late strongman Muammar Gaddafi in 2011.

It says that once the deal was fully implemented, the mediators would discuss with the Libyan prosecutors closing all pending cases involving the closure of the oil ports and suspension of oil exports.

The developments come as Libya's interim authorities are still struggling to restore order and contain militancy on the streets since Gaddafi's ouster.

Copyright © 2014 Anadolu Agency
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Oil & Gas News

Oil & Gas News Business News
Released:  10/04/20142014-04-10
Word count:  485

OPEC, which supplies 40 percent of the world’s oil, will accommodate additional output from members Iraq, Iran and Libya, Secretary-General Abdalla El-Badri said, without explaining how it will do so under the group’s ceiling.

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Bloomberg
The Organization of Petroleum Exporting Countries will wait until 2015 to discuss output targets with Iraq, which currently operates outside the production-quota system for each of the group’s other 11 member countries, El-Badri told reporters today in Doha, Qatar. OPEC foresees gradual increases from Iraq and Iran, while Libya is capable of boosting output by as much as 1 million barrels within a month, he said.

“There is no problem for OPEC to absorb any production increment from Iraq and Iran in 2014,” El-Badri said. “When Libya output comes back, we will accommodate it because its production is in our numbers.”

OPEC is set to boost output as its second-biggest producer Iraq pumps at a 35-year high and Libya’s government makes progress in talks with rebels who control fields and export terminals in the country’s oil-rich east. Sanctions on Iran over its nuclear program have constrained the country’s production and sales of crude. OPEC plans to meet on June 11 in Vienna to review its output target, now at 30 million barrels a day. World Demand

Global demand will increase by 1.1 million barrels a day in 2014, and the group will produce up to 30 million barrels a day for the rest of the year, El-Badri said. “Of course, ministers can change that when they meet,” he said.

OPEC pumped 30.3 million barrels a day in March, data compiled by Bloomberg show.

The group has yet to determine how to make room for potential output increases from Iraq, Iran and Libya, El-Badri said. “We will discuss that when they come to the point to discuss their increase,” he said.

Iraq, with the world’s fifth-largest oil reserves, is rebuilding its energy industry after decades of war and economic sanctions. Helped by investors including Royal Dutch Shell Plc (RDSA) and Exxon Mobil Corp. (XOM), it leap-frogged Iran in 2012 to rank second in OPEC, after Saudi Arabia. Iraq pumped 3.4 million a day in March, according to data compiled by Bloomberg, and targets 9 million a day.

Iran raised production to 2.9 million barrels a day last month, an increase of 65,000 barrels from February, the data show. Libya, which produced 250,000 barrels a day in March, holds Africa’s biggest crude reserves. Libya’s government reached an agreement with eastern rebels on April 6 to reopen two oil ports.

OPEC’s spare production capacity is at an adequate level this year, and producers and consumers are happy with current oil prices, El-Badri said. The price for OPEC’s basket of crudes rose $1, or 1 percent, yesterday to $103.16 a barrel, the group’s secretariat reported today.

The group’s 12 members are Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela.

To contact the reporters on this story: Wael Mahdi in Doha at wmahdi@bloomberg.net; Nayla Razzouk in Dubai at nrazzouk2@bloomberg.net

To contact the editors responsible for this story: Alaric Nightingale at anightingal1@bloomberg.net Bruce Stanley, Claudia Carpenter
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News Releases

News Releases
Released:  10/04/20142014-04-10
Word count:  169

The Central Bank of Libya (CBL) has enough reserves to fund Libya for another three years without earning anything from oil sales, the bank’s head of reserves was quoted by Libya Herald as saying.

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Mubasher
“We have enough funds for three years without getting a single US cent from oil,” Musbah Alkari has told the Libya Herald. The bank had “more than $115 billion (LD 142 billion) in foreign currency reserves” placed outside the country, he said – in banks such as HSBC, Bank of New York, Barclays and through clearers such as Clearstream. Around 60 percent of it was in dollars, the rest mostly in euros and sterling.

Add to this the reserves of around $50 billion (LD 62 billion) of the Libyan Investment Authority (LIA), Alkari said, and there was enough for around four and a half year’s spending without any oil being sold.

Reports of Libya running short of cash and being unable to fund projects were absolute nonsense, he said.

Moreover, “we don’t have any debt” unlike the US or UK, said Akari, who is also the chairman of the Goumhouriya Bank. “We can borrow” if needed. Banks would be delighted to lend, he said. But Libya does not need to borrow, he stressed.
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Construction News

Construction News Business News
Released:  09/04/20142014-04-09
Word count:  182

Longstanding plans to set up a free zone in Benghazi have taken a major step forward with the first meeting of its administrative committee.

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Libya herald
It looked at the structures of administrating the Meresa Free Zone including the functions of the general manager and officials and the role of various sub-committees. It also agreed to set up a technical and economic advisory committee and to appoint international consultants to draw up the zone’s infrastructural and technical specifications.

It is almost exactly two years since the post-revolution authorities agreed that the free zone should go ahead. Since then a committee to establish it has been working on the general concept. It has now been wound up, with the administrative committee taking over.

Covering some 1,200 hectares in Qunfudah, west of Benghazi, the zone will include areas for shipping, industry, storage and services as well as a “smart city” district covering education and training, the media and IT companies. There will also be an area for international banks plus hotels and a conference and exhibition centre.

At the Saturday meeting, the administrative committee further agreed to set up a technical and economic advisory sub-committee and to appoint international consultants to draw up the zone’s infrastructural and technical specifications.
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Oil & Gas News

Oil & Gas News Business News
Released:  09/04/20142014-04-09
Word count:  653

Libya's Zueitina oil port prepared on Monday to load crude into tankers after the government reached a deal with rebels to reopen four terminals that insurgents have occupied since the summer.

Play
The maritime executive
The federalist rebels agreed on Sunday to end gradually their eight-month blockade of Zueitina, Hariga, Ras Lanuf and Es Sider ports, which account for around 700,000 barrels per day of the OPEC country's crude exports.

Brent crude fell $1.47 to a low of $105.25 per barrel before recovering to $105.72 by 1256 GMT, after news of an end to the port protest removed some of the supply worries affecting the oil market.

"The port is ready to start exporting at the present time or later at any time, and a maintenance unit team has already started work to receive the first tanker," said Abdulatif Al-Alam, operation coordinator at Zueitina.

Maintenance personnel, some of them foreign workers, wearing red jump suits and helmets were busy preparing pipelines at the 70,000 bpd-export terminal located 100 km west of Benghazi.

A Reuters reporters saw seven former rebel fighters next to their vehicle at the front gate - now protecting the port after being put back on the payroll under the government agreement. A group of ex-rebels could be also seen inside the port.

"The Zueitina oilfield has been restarted," said Ali Qadari, a former rebel fighter happy about the oil deal. "Things are moving forward seriously. Everything is fine now."

Alam said the port was awaiting orders from the state-run National Oil Corp to begin receiving customers and would be able to handle the same amount of cargo like before the closure.

Under the agreement with Tripoli's government, Zueitina and Hariga ports were expected to open immediately while the larger ports, Ras Lanuf and Es Sider with around 500,000 bpd capacity, will be reopened in two to four weeks after more negotiations.

But the manager at Hariga in Tobruk in the far east said he had received no confirmation to reopen and would need at least 10 days to prepare for tankers to load crude.

The remarks from the Hariga manager indicated how technical problems and ongoing negotiations over the two larger ports could still delay a full reopening of the North African state's oil supplies.

"It takes 10 days or two weeks at least to prepare the oil port to work again and to welcome customers and tankers to load oil," Hariga terminal manager Rajab Abdulrasoul told Reuters.

Tanks were full at 1.6 million barrels and are being used to feed the 20,000 bpd-refinery in Tobruk, he said during a port visit at the end of February.

The deal to end the port standoff will be a major boost for Libya's fragile government, which has struggled to impose its authority over a vast nation still in chaos nearly three years after the fall of dictator Muammar Gaddafi.

Still, the agreement did not address rebels' key political demands for more autonomy or sharing of oil revenues. Details were not clear about what remains to be negotiated over the two larger terminals.

TOUGH NEGOTIATIONS

The clash over control of Libya's oil resources was the starkest example yet of how far the government is unable to impose its authority over brigades of former rebels and militias who refused to disarm after Gaddafi's fall and often use their muscle to strong-arm the state.

The federalist rebel leader, Ibrahim Jathran, is a former anti-Gaddafi fighter who took command of facility guards protecting oilfields, refineries and ports. He defected with thousands of his men in the summer to seize three terminals.

Hariga had been taken over by a separate group of protesters who sympathized with Jathran's campaign for a larger slice of Libya's oil wealth for his eastern region, where many feel they have been abandoned by Tripoli for years.

The agreement calls for a commission to investigate corruption, for charges against Jathran's men to be dropped and for the former oil guards to receive their state salaries.

Tripoli's government often finds itself falling prey to rival bands of former rebels and militias who are loosely allied with competing political factions in the country's parliament.

By Ayman al-Warfalli and Ahmed Elumami (C) Reuters 2014
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1 week ago

Oil & Gas News

Oil & Gas News Business News
Released:  08/04/20142014-04-08
Word count:  514

SAN FRANCISCO (MarketWatch) — Oil prices declined on Monday, backing away from $101 a barrel, with Brent crude leading the way on weekend reports that Libya may be close to re-opening two oil ports.

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Market watch
Four terminals that have been occupied by rebels for eight months will now be re-opened slowly, said reports. The smaller ports of Zuetina and Hariga, which have a combined export capacity of 200,000 barrels per day, are due to open immediately. Re-opening the two oil ports would double Libya’s current capacity, according to Richard Perry, market analyst at Hantec Markets.

Two bigger ports — Es Sider and Ras Lanuf — are expected to open over the next four weeks, said analysts at Commerzbank in a note. Those ports have a capacity of 500,000 barrels per day.

Crude for May delivery CLK4 +0.87% settled down 70 cents, or 0.7%, to $100.44 a barrel on the New York Mercantile Exchange. On Friday, crude rose nearly 1% to settle at $101.14 a barrel, the highest close since March 31. Prices still lost 0.5% for the week, partly due to concerns over an economic slowdown in China.

More hard hit on Monday was May Brent crude UK:LCOM4 +0.45% , the European benchmark, which slid 90 cents, or 0.8%, to settle at $105.82 a barrel on the ICE Futures exchange. Prices declined 1.3% last week.

“The crude complex is very much taking direction from the news that Libyan rebels are handing over control of two ports,” said Matt Smith, commodity analyst at Schneider Electric. “By no means does this mean an end to the ebb and flow of disruptions in the oil-rich country, but a step in the right direction has Brent crude charging lower, dragging the rest of the complex with it.”

But Commerzbank analysts said oil prices should recover during the course of this week, as the reports fall short of last week’s hope that all oil terminals might be opened within a matter of days. “The supply of oil from Libya will therefore remain severely restricted for the foreseeable future, especially since oil production in the west of the country is also hampered by protests,” said the analysts. In addition, crude investors will also have to refocus on more unrest out of Russia over the weekend. Antigovernment protestors pushing for closer ties to Moscow seized regional government headquarters in two eastern Ukrainian cities on Sunday. Commerzbank analysts said if the West tightens sanctions in response and imposes sanctions that affect Russian oil and gas shipments, prices of oil and gas would rise sharply. However, they don’t see this scenario unfolding immediately.

Within other contracts, natural-gas futures NGK14 +0.69% rose nearly 4 cents, or 0.8%, to settle at just under $4.48 per million British thermal units.

“As for natural gas, despite the likely first injection into storage for this year from Thursday’s storage report, below-normal conditions on the updated outlooks mean we will see lingering heating demand for the eastern two-thirds of the U.S. well through mid-April,” said Schneider Electric’s Smith.

May gasoline RBK4 +0.45% declined less than a penny, or 0.2%, to settle at just under $2.93 a gallon, and May heating oil HOK4 +0.55% fell nearly 2 cents, or 0.6%, to settle at $2.89 a gallon.

Wallace Witkowski is a MarketWatch news editor in San Francisco. Follow him on Twitter @wmwitkowski. Barbara Kollmeyer is an editor for MarketWatch in Madrid. Follow her on Twitter @bkollmeyer.
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I have a provider who is ready, willing and able of delivering banking instruments (BG/SBLC) for lease which can be used in all forms of projects. Our bank instrument can be used as collateral to seek for loans from different banks of choice and can be used to engage into ppp trading.

For contacting purpose:

Contact : Mr. Sorin Lassmann Email: providermandate.ls@gmail.com Skype ID: ls.nicu

Sorin Lassmann
1 week ago

Business News

Business News
Released:  08/04/20142014-04-08
Word count:  102

The Libya Defense Show 2014 opened in Tripoli on Sunday, aiming to mend the security situation in the war-torn country.

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Global times
Items on show include armored cars, uniforms, Kevlars and various kinds of police equipment from forty arms dealers.

Libya's acting Interior Minister Salah Mazig said at the brief opening ceremony that he hoped the efforts of all concerned would help Libya "build a strong army to defend itself."

The fair's organizers said the participants are fewer than previous years due to a lack of advance publicity for safety concerns.

After the fall of former Libyan leader Muammar Gaddafi in 2011, the north African country has been overrun by militias and outlaws. The interim government failed to establish an effective control of all regions.

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I have a provider who is ready, willing and able of delivering banking instruments (BG/SBLC) for lease which can be used in all forms of projects. Our bank instrument can be used as collateral to seek for loans from different banks of choice and can be used to engage into ppp trading.

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Sorin Lassmann
1 week ago

Business News

Business News
Released:  08/04/20142014-04-08
Word count:  174

The Libyan-Indian Business Council was formed yesterday evening at a networking event and ceremony held at Corinthia hotel, Tripoli.

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Libya herald
The agreement was signed by Abdulnaser Almana head of the (Tripoli-based) Libyan Businessmen Council (www.lbc.com.ly/en/) and Deepak Premnarayen Co-chairman of the Confederation of Indian Industry (www.cii.in) Almana thanked the CII delegation for coming to visit Libya at this difficult time and looked forward to a fruitful cooperation with the CII.

Earlier, Minister of Culture. Habib Lamin, in his role as acting Housing and Infrastructure Minister, said that Libya was at a stage of development where it needed to cooperate with other partners and friends all over the world.

Lamin said that post February 17th Libya wanted an open state, a state of development and progress He urged that Libya learn lessons from India’s history and experience – the largest democracy on earth.

Lamin thanked the CII for its visit and hoped the Libyan private sector could learn from Indian technology, industry and production.

For a full list of the delegation, their companies and areas of specialty, contact the commercial section at the Indian embassy in Nofleen.
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I have a provider who is ready, willing and able of delivering banking instruments (BG/SBLC) for lease which can be used in all forms of projects. Our bank instrument can be used as collateral to seek for loans from different banks of choice and can be used to engage into ppp trading.

For contacting purpose:

Contact : Mr. Sorin Lassmann Email: providermandate.ls@gmail.com Skype ID: ls.nicu

Sorin Lassmann
1 week ago
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