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Oil & Gas News

Oil & Gas News
Released:  29/07/20142014-07-29
Word count:  636

West Texas Intermediate and Brent crudes dropped as the flow of oil from the Middle East was unaffected by the surge in violence in Libya and Iraq.

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Bloomberg
Crude in New York slipped for the fourth time in five days after clashes between militias in Tripoli didn’t spread to oil-export terminals. The conflict in Iraq spared the country’s main oil-producing region. WTI slid last week after government data showed that gasoline stockpiles rose to a four-month high as demand declined.

“The battles in Libya and the rebellion in Iraq haven’t had an impact on oil shipments,” said John Kilduff, a partner at Again Capital LLC, a New York-based hedge fund that focuses on energy. “This is the status quo these days. There’s also lackluster demand, which is adding to the downward pressure.”

WTI for September delivery dropped 42 cents, or 0.4 percent, to settle at $101.67 a barrel on the New York Mercantile Exchange. It was the lowest settlement since July 16. The volume of all futures traded was 16 percent below the 100-day average for the time of day.

Brent for September settlement dropped 82 cents, or 0.8 percent, to end the session at $107.57 a barrel on the London-based ICE Futures Europe exchange. Volume was 38 percent lower than the 100-day average. The European benchmark crude closed at a $5.90 premium to WTI, down from $6.30 on July 25. Iraq, Libya

Attackers fired at a U.K. diplomatic convoy in Libya a day after the U.S. State Department evacuated its embassy. Libya pumped 500,000 barrels of crude a day on July 24, according to the state-run National Oil Corp. The country produced 300,000 barrels a day in June, according to Bloomberg estimates. In Iraq, OPEC’s second-largest producer, fighting remains concentrated in the north, where militants from a breakaway al-Qaeda group known as the Islamic State captured the city of Mosul last month. The conflict hasn’t spread to the south, the source of more than three-quarters of the country’s oil output.

International pressure mounted on Israel to end its three-week offensive in the Hamas-controlled Gaza Strip, with President Barack Obama and the United Nations Security Council demanding an immediate truce. The conflict is the third major military showdown between the sides in less than six years. It has already claimed the lives of more than 1,000 Palestinians, 45 Israelis and a Thai worker in Israel.

Economic Data

Brent futures climbed on July 25 because of rising tension between Ukraine and Russia, the world’s biggest energy-exporting country. Fighting near the Malaysian Air crash site in east Ukraine again prevented Dutch and Australian investigators from reaching the area as Chancellor Angela Merkel said Europe must agree to new Russia sanctions by tomorrow.

“We’re still looking at a powder keg in Ukraine and if there’s a major escalation we’ll see the geopolitical risk premium rush back into the market,” said Gene McGillian, an analyst and broker at Tradition Energy in Stamford, Connecticut.

The U.S. Commerce Department is scheduled to report the nation’s gross domestic product for the second quarter on July 30, while the Labor Department will publish monthly data on non-farm payrolls on Aug. 1. The Federal Reserve is scheduled to review monetary policy at a two-day meeting starting tomorrow.

The U.S. will account for about 21 percent of global oil consumption this year, almost double that of China, estimates from the International Energy Agency in Paris show. “The fundamentals are putting a little pressure on the market,” McGillian said. “We have ample supplies and limited demand.”

Gasoline for August delivery dropped 1.61 cents, or 0.6 percent, to settle at $2.8492 a gallon on the Nymex. Diesel for August delivery declined 2.78 cents, or 1 percent, to $2.8879.

U.S. gasoline pump prices fell 0.4 cent to $3.523 a gallon yesterday, the lowest level since March 21, according to AAA, the largest U.S. motoring group.

To contact the reporter on this story: Mark Shenk in New York at mshenk1@bloomberg.net

To contact the editors responsible for this story: David Marino at dmarino4@bloomberg.net Richard Stubbe, Charlotte Porter  
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Oil & Gas News

Oil & Gas News Business News
Released:  28/07/20142014-07-28
Word count:  124

Brega port to restart crude shipments

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Mubasher
Libya's Eastern port of Brega is set to restart crude exports after a tanker arrived Thursday, the port said, as the North African country ramps up exports despite escalating violence in the capital, The Wall Street Journal reported.

The Overseas Fran tanker arrived in Brega to load 750,000 barrels of crude which will be delivered to the Italian port of Genoa, the oil port said on its Facebook page. Shipping tracking website Marinetraffic.com confirmed the Overseas Fran was due to arrive Thursday in Brega.

The news come after an agreement between the government and striking guards over wages paved the way for the port reopening Tuesday. There hasn't been any crude-oil tanker leaving the port since late June, according to shipping-tracking website FleetMon.com.
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News Releases

News Releases

Eid Mubarak - تهنئ اسرة الموقع زوارنا الكرام بعيد الفطر المبارك , اعاده الله بالخير و البركات .

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LBTV Team
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Construction News

Construction News Business News

Tuscor Lloyds has just completed the transportation of some heavy equipment needed for the construction industry in Libya. The cargo involved 4 pieces making up an Asphalt Plant and Scalping Screen which together weighed more than 80 tons.

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Tuscor Lloyds
Tuscor Lloyds took over management of this cargo once the equipment had been delivered to the Port of Veracruz in Mexico (the delicate equipment had been built around specially manufactured trailer chassis. Due to the delicate nature of the cargo they could not be top lifted by conventional cranes and could only be lashed to the shipment from dedicated points on each chassis.) The cargo was delivered to the port of loading Veracruz in Mexico and was transported as RO-RO cargo and was loaded / unloaded to the vessels using truck / tractor units.

Once the RORO cargo was loaded to the vessel each unit was securely lashed to the vessel hold using heavy duty ratchet straps which would keep the cargo completely fixed during the sea transportation between ports.

This heavy equipment shipment was trans-shipped from the Port of Veracruz to the Port or Antwerp, Belgium where it was loaded and lashed to another vessel for the final journey to the port of Misurata, Libya.

Tuscor Lloyds experienced project management in Mexico and the United Kingdom handled this RORO project cargo every step of the way and the equipment arrived safely at the port of Misurata where it was unloaded from the vessel and released to the local handlers who transported the cargo by road to its final delivery point.
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Business News

Business News
Released:  25/07/20142014-07-25
Word count:  34

Libyan dinar drops again against USD, Sterling

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Mubasher
Libyan dinar (LYD) fell again against the British and US currencies, while it rallied against the European single currency (Euro).

Sterling hit 2.1442 LYD and US dollar reached to 1.2561 LYD, while Euro declined to 1.6912 LYD.
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Oil & Gas News

Oil & Gas News
Released:  25/07/20142014-07-25
Word count:  57

Oil output up to 500,000 bpd

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Reuters
A spokesman for the state-run National Oil Corporation said on Thursday production had risen to 500,000 bpd, but he said there was still no progress on reopening the Brega oil port after a deal with protesters to end a blockade there.

Reopening Brega would help increase crude output by bringing the stalled Sirte oil operations back into production.
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News Releases

News Releases
Released:  25/07/20142014-07-25
Word count:  594

Mellitah Oil & Gas -Tender No 764 -Offshore Bouri Field (DP3) Platform Kitchen Revamping.

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NOC

Mellitah Oil &Gas Company,intends to issue the below tender and wish to invite for pre-qualification interested, experienced and reputable Companies specialized in providing similar services stated below to submit including all requirements for inclusion in the bidders list to be  invited to participate in the following tender:

Tender Number  764

Offshore Bouri Field (DP3) Platform Kitchen Revamping.

Scope of Work

Mellitah Oil & Gas B.V. (Oil Division) intends to rehabilitate and refurbish the existing Kitchen with the following work to be carried-out:

  • Replacement of all Kitchen Equipments and Furniture.
  • Replacement of the entire Kitchen   Finishes (Floors, Walls, and ceiling system.
  • Replacement of Kitchen drainage system, water system, air supply and Ventilation system.
  • Upgrading of electrical systems.

QUALIFICATION REQUIREMENTS

 

Interested companies for the above tender must satisfy the stipulated requirements and submit by English language  the required information below. Failure to submit any of the under listed documents will render automatic disqualification:

  1. Letter on Company's letterhead Addressedto the "Contract Department Manager"

(Oil Division)

Stating expression of interest on the respective tender.

  1. Valid copy of Company Registration in Libya, if already registered, or details of Branch Office, Representative or Agent in Libya and Tax department declaration.
  2. Lists of completed and on-going projects shall be supported by clients duly signed “acceptance completion certificate likewise on-going projects shall be supported with any documents from clients certifying of contracts award and any additional information that will enhance the potential of the applicant /consortium.
  3. Submission of Financial Status document of the Company turnover for the last 3 years and confirmed by third auditing firm.
  4. Lists of owned resources (i.e. .offices, warehouses, manpower, organization chart, equipment, tools and others).
  5. HSE Procedures &Risk Management (with Certification from international authority body).
  6. Two copies of the Prequalification Documents containing the above stated requirements shall be submitted in envelopes and marked:

Tender Number  764

Offshore Bouri Field (DP3) Platform Kitchen Revamping.

Addressed to the " Contracts Department Manager")Oil Division)

  to the following address:

Mellitah Oil & Gas Company

Dahra Kebira Street, P.O. Box 346,

Tripoli-Libya

The prequalification documents shall be submitted at 12amon4/8/2014

Company has the right to exclude any file does not meet the above stipulated requirements.

Important Notes:

  1. The pre‑qualification request is not an invitation to tender. Company is neither committed nor obligated to undertake the work described above or to issue any call for tender or to include any respondent to this invitation or other company on any Bidders List or to award any form of contract.
  2. The Invitation to Tender (ITT) and full ITT Package will only be issued to qualified companies that have been pre-qualified.
  3. Company will not be responsible for whatsoever costs incurred for preparation and submission presented in response to this notice.
  4. Company shall deal only with authorized officers of the bidding companies and not through individuals or agents.
    1. Company shall not consider any pre-qualification request all the Conditions been provided as resolution 207),2012) from the economic minister.
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News Releases

News Releases

Tripoli, Libya 20 July 2014 – The German Government contributed EUR 100,000 to UNICEF in Libya. The contribution- aimed at strengthening national capacities to fulfill child rights in Libya- was signed today in Tripoli through an agreement between the German Ambassador to the country, Christian Much, and Mr. Ghassan Khalil, UNICEF Special Representative in Libya.

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UNSMIL
The agreement was also signed by Mo’men, a seven year old boy from the Janzour area in Tripoli, as a witness.

“We are thankful to the German Government for this generous contribution and the momentous endorsement of our work for children in Libya. It comes at this acutely troubled time in the country. UNICEF continues to be present in Libya working towards achieving children’s rights” said Mr. Khalil.

The contribution will help UNICEF to support the Government of Libya developing legal and institutional frameworks for a strengthened Child Protection System. It will assist UNICEF to consolidate efforts made through its Child Protection projects aimed at strengthening national capacities for monitoring the fulfilment of children’s rights. Activities to be implemented under this Germany-UNICEF partnership include strengthening the capacities of judges, prosecutors, police and social workers in the area of child rights and juvenile justice, as well as enhancing the capacity of the Higher Council for Childhood.

Ambassador Much said: “My Government is happy to continue its multi-annual cooperation with UNICEF in Libya. However, the implementation of the activities that we intend to support depends on the overall security situation in the country. I hope that all those groups who are currently fighting out their differences will bear in mind that their armed struggle is fought on the back of the needs of the civilian population, including those who represent Libya’s future: the children.”

UNICEF implements its programmes in Libya in close cooperation with sister UN Agencies and Development Partners. Activities planned under this agreement will be carried out in partnership with national stakeholders.

UNICEF will match the contribution from the German Government with an allocation of 120,000 EURO from its own resources to implement activities planned under this agreement.

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Oil & Gas News

Oil & Gas News
Released:  24/07/20142014-07-24
Word count:  67

Sirte oil restarts pumping after Brega terminal deal

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Mubasher
Pumping from Sirte Oil Compay’s Zelten and Marada fields has restarted following a deal has been reached between guards and National Oil Corporation (NOC) to reopen Brega oil field.

It is worth mentioning that Libyan oil production has declined, turning back a hard-won increase since April in revenue for the government facing increased fighting around the airport in Tripoli and in the eastern city of Benghazi.
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Oil & Gas News

Oil & Gas News
Released:  24/07/20142014-07-24
Word count:  399

Libya is preparing a new pricing strategy for its crude exports that may include further discounts after a sales offer last week failed because potential buyers offered “unacceptable” prices, according to state-run National Oil Corp.

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Bloomberg
Libya plans to offer different crude prices before the end of next month that will compensate customers for the additional risk of loading oil in the country, Ahmed Shawki, marketing director at National Oil, said by phone from Tripoli today. The country reduced July export prices for seven grades of crude by as much as $1.90 a barrel, according to a price list from National Oil obtained by Bloomberg News on July 18.

“Tenders were not awarded because the price was unacceptable,” Shawki said. “They were meant to test the market as we prepare a pricing strategy.”

Exports of oil from Libya were disrupted after political feuding closed oilfields and export terminals a year ago. The country produced 300,000 barrels a day of crude last month, about a quarter of the level a year earlier. The Libyan government reached an agreement with rebels on July 2 to reopen Es Sider and Ras Lanuf, the country’s biggest and third-largest export terminals respectively. Zawiya, the nation’s second-biggest oil port, is operational.

“Libya may need to agree to discount its own crude by $1 to $1.50/barrel to be able to sell crude sitting in storage at Es Sider and Ras Lanuf,” Amrita Sen, chief oil markets analyst at Energy Aspects in London, said by e-mail. The oil market is amply supplied and the country’s waxy crude will require extra processing at refineries after sitting in storage for a year, she said.

Shawki declined to indicate if Libya would agree to such a discount. The company is studying the possibility of further discounts, National Oil spokesman Mohamed Elharari said by phone from Tripoli, declining to give a range. Disruption Risk

“We will take into account the disruption risk for customers, for example by allowing loading flexibility,” Shawki said.

Even after the deal with rebels to reopen ports, shipments have been blocked at Libya’s eastern export terminal of Brega. The government and protesters have yet to agree a date for the facility to reopen, Elharari said.

“There is an agreement to re-open Brega, but there is no agreement on when to implement this agreement,” he said. Libya’s daily crude production stood at 450,000 barrels today, compared with 550,000 barrels last week, he said.

To contact the reporter on this story: Maher Chmaytelli in Dubai at mchmaytelli@bloomberg.net

To contact the editors responsible for this story: Alaric Nightingale at anightingal1@bloomberg.net David Marino, Stephen Cunningham
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Oil & Gas News

Oil & Gas News
Released:  23/07/20142014-07-23
Word count:  163

An Indonesian-Libyan joint operating company has taken a step toward development of an oil field in the Hamada area of the Ghadames basin about 200 km south of Tripoli.

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Oil & Gas Journal
The company, Nafusah Oil Operations BV Libyan Branch, let a front-end engineering design contract for the project to a joint venture of Foster Wheeler AG’s Global Engineering & Construction Group and Taknia Libya Engineering Co., a wholly owned subsidiary of Libya’s National Oil Corp. (NOC).

The Area 47 Development Project includes North Hamada field.

Foster Wheeler said the development will involve about 11 existing and 23 new wells, flowlines, and a common gathering trunkline to carry produced fluids to a central gas-oil separation (GOS) facility. The planned design capacity of the GOS facility is 50,000 b/d of oil and 90 MMscfd of natural gas. Produced water will be injected into the reservoir.

After separation, oil and gas will move through new pipelines to connections with existing lines for transport to the Mellitah terminal on the Mediterranean Sea in northwestern Libya.

Production is planned to start by the end of 2016.

Partners in Nafusah Oil Operations are NOC, 51%, and Medco International Ventures Ltd. and Libyan Investment Authority, 24.5% each.
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6 days ago

Oil & Gas News

Oil & Gas News
Released:  23/07/20142014-07-23
Word count:  121

Libya’s National Oil Corporation (NOC) has issued tenders to export the first crude oil from its major eastern refinery and port Ras Lanuf, since a rebel blockade of many of the country’s oil facilities was brought to an end

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Oil review Middle East
NOC has issued a tender to sell two million barrels of crude oil from Ras Lanuf - one million of Amna crude and one million of Sirtica crude - which is set to be loading by the end of July, according to traders and a tender document released last week.

Both Ras Lanuf and the Es Sider ports, which have a combined capacity of approximately 500,000 bpd, were reopened earlier this month after nearly a year-long blockade of the country’s oil facilities initiated by rebel groups.

The rebels were, until April this year, holding four out of Libya’s five eastern ports, which meant the country’s export capacity of 1.25mn bpd was more than cut in half, according to Reuters.
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6 days ago

Oil & Gas News

Oil & Gas News
Released:  22/07/20142014-07-22
Word count:  587

Swiss commodity traders bought about $55 billion of crude from African national oil companies in the past three years, non-governmental organizations said.

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Bloomberg
The firms bought about a quarter of the crude sold by governments of the 10-largest oil producing countries from 2011 to 2013, according to the report. The payments equal about 12 percent of the African governments’ total revenues, said the NGOs, who seek to promote disclosure by commodity companies.

“Opacity and secrecy is the condition to facilitate corruption,” said Marc Gueniat, a researcher at the Berne Declaration who was one of the authors of “Big Spenders: Swiss Trading Companies, African Oil and the Risks of Opacity.”

The report, also authored by the Natural Resource Governance Institute and Swissaid, covers firms based in Switzerland or that have major operations in the Alpine nation and calls on traders and government to release details of deals.

Trading companies don’t pose the same risks as extractive companies and so shouldn’t be subject to the same international transparency initiatives, according to Stephane Graber, secretary-general of the Geneva Trading and Shipping Association, representing traders in the Lake Geneva region. “Due to the high number of transactions, the disclosure of these contracts between the producers and the trading companies would cause high implementation cost and not help in further preventing corruption,” Graber said in an e-mailed statement.

Largest Buyers

Swiss trading companies were the largest buyers of oil from the governments of Cameroon, Chad, Equatorial Guinea, Gabon and Nigeria in the three years, according to the NGOs’ study. In Nigeria, Swiss companies including Glencore Plc (GLEN), Trafigura Beheer BV and Vitol Group, bought oil worth $37 billion in the period, more than 18 percent of the government’s revenues, the NGOs said. Glencore, the second-largest independent oil trader, buys all of the crude sold by Chad’s government and made payments worth 16 percent of the nation’s total state revenues in 2013, according to the report.

“We support fiscal transparency via our endorsement of the Extractive Industries Transparency Initiative,” Charles Watenphul, a spokesman for Baar, Switzerland-based Glencore, said in an e-mailed statement.

Individual countries decide whether or not to join the EITI, which requires the disclosure of payments made to governments by resource companies. Chad is an EITI “Candidate Country” that is implementing the EITI but hasn’t yet met all requirements, according to the EITI website. Glencore loaned Chad money to help it fund the $1.3 billion purchase of Chevron assets in Chad, the country’s energy minister said in June.

Libyan Rebels

The report said Vitol and Trafigura both bought crude from Libya’s rebel groups during the 2011 revolution, while the rebels purchased more than 30 tankers of refined petroleum products from Vitol during the conflict.

Vitol was among companies asked by Qatar International Petroleum Marketing Co. to sell oil from Libya’s AGOCO on behalf of what was then the National Transitional Council of Libya, Vitol spokesman Fabian Gmuender said in an e-mailed statement.

In exchange, they were asked to supply AGOCO with oil products for essential non-military needs, including power generation and transportation, he said. “Vitol agreed to the proposal at considerable commercial risk,” Gmuender said.

Andrew Gowers, a Trafigura spokesman, declined to comment.

Switzerland said in June it would consider regulations requiring the country’s $21 billion commodity trading industry to disclose payments to foreign governments. The Swiss Federal Council said it would only implement the measures if similar rules are adopted by the European Union and U.S.

To contact the reporter on this story: Andy Hoffman in Geneva at ahoffman31@bloomberg.net

To contact the editors responsible for this story: Timothy Coulter at tcoulter@bloomberg.net Tony Barrett, Reed Landberg  
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6 days ago

Oil & Gas News

Oil & Gas News
Released:  22/07/20142014-07-22
Word count:  181

MOSCOW, July 21 (RIA Novosti) - Oil exports from the largest Libyan oil field Sharara starting again on Monday, July 21 is a sign of the country’s oil industry revival, Wall Street Journal reported Monday, quoting a spokesperson of the Libyan state company National Oil Corp (NOC).

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RIA Novosti
According to a different source familiar with the situation, quoted by the Wall Street Journal, the first oil tanker will be delivered to the Spanish company Repsol, which is NOC’s partner in oil field development.

Total volume of oil production in Libya is now approximately 500,000 barrels per day, which is 100,000 barrels less than a five year maximum reached on July 16. According to the NOC representative, the decrease is related to the closure of the eastern port of Brega. Oil fields that shipped their products through Brega suspended their work.

Early July acting Libyan Prime Minister Abdullah Thani announced the end of the “oil crisis” in the country and said the authorities had regained control over the two ports.

In April, the Libyan government made an agreement with the rebels to unblock four oil terminals. Two of them, Zueitina and Hariga, came under government control shortly after.

Libya’s oil industry has been disrupted by clashes between various armed groups that disagree with the governmental policy, and has lost at least $14 billion over the past nine months due to port blockades
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6 days ago

Oil & Gas News

Oil & Gas News Business News
Released:  21/07/20142014-07-21
Word count:  321

The biggest surge in oil-shipping costs since January is poised to persist as shipments from Libya act as a catalyst for Asian oil refineries to import more crude from Atlantic Ocean suppliers, RS Platou Markets AS said.

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Bloomberg
Libya’s Oil Ministry said July 16 that the nation’s largest and third-largest ports will resume shipments next month after a yearlong blockade by protesters seeking a bigger share of the nation’s crude sales. The North African country holds the continent’s biggest oil reserves.

Oil tanker rates as measured by the Baltic Dirty Tanker Index jumped 42 percent to 896 points since early June as refineries returning from routine maintenance booked extra ships. An increase in Libyan supplies could drive down the relative cost of crude in the Atlantic, resulting in more shipments from the region to Asia, according to Frode Moerkedal, an analyst at Platou in Oslo. The firm is part of Norway’s largest shipbroking group.

“If Libyan oil terminals stay open, tanker rates could go higher,” Moerkedal said in an e-mail today. The “return of Libyan oil could give the market another shot in the arm.”

The premium for Brent crude, a benchmark for suppliers in the Mediterranean and wider Atlantic Ocean, fell to $3.32 a barrel more than Dubai, a benchmark in the Persian Gulf, according to data from PVM Oil Associates Ltd. The premium was as high as $3.85 on June 12.

Bookings of very large crude carriers, the industry’s biggest ships, are already climbing for loading from West Africa. Charters rose to 31 this month from 24 in June, according to data from Galbraith’s Ltd., a shipbroker in London. The ports of Es Sider and Ras Lanuf were handed over this month by rebels seeking self-rule in the east of the country.

Shipping rates rose because Asian refineries booked more vessels as they returned from a higher-than-normal round of seasonal maintenance, Nikhil Jain, a shipping analyst at Drewry Shipping Consultants in New Delhi, said in an e-mail.

To contact the reporter on this story: Priyanka Sharma in London at psharma142@bloomberg.net

To contact the editors responsible for this story: Alaric Nightingale at anightingal1@bloomberg.net Rachel Graham
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Sorin Lassmann
6 days ago

Business News

Business News
Released:  21/07/20142014-07-21
Word count:  97

Libya Phone launches the project of fiber optics to houses.

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Libyan investment
Manger of Libya Phone Company ascertained that the company issued brochure of specifications which are prepared by the German Deticon Company stating what is required from the companies which submitted offers concerning the project of fiber optics to houses.

The project will start as from 2015 and the company is awaiting offers from the companies during 3 months followed by evaluation period until it covers Libya according long run plan from 2015 to 2022.

The aim of the project is to improve subscribers’ services and internet will reach 100 mb.

The company allocated 40 million dinars for the first stage of the project.
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6 days ago

Oil & Gas News

Oil & Gas News
Released:  18/07/20142014-07-18
Word count:  237

(Reuters) - Libya's National Oil Corp has offered the first crude oil from its major eastern Ras Lanuf terminal for end-July loading, two weeks after a rebel group agreed to end its nearly 1-year blockade of the bulk of the country's oil facilities.

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Reuters
NOC has issued tenders to sell 2 million barrels of crude oil from its recently reopened Ras Lanuf, a tender document and traders said on Wednesday.

NOC is offering a 1 million barrel cargo of Amna loading July 27-29, the tender document showed, and another 1 million barrel cargo of Sirtica crude oil loading July 24-26, traders said. The tenders close on July 17

Until April, the rebels were holding four out of five eastern ports, cutting off over half of Libya's export capacity of 1.25 million barrels per day, while on-off protests at western installations pushed exports close to zero.

The Ras Lanuf and Es Sider ports, which have a combined capacity of around 500,000 barrels per day, were reopened two weeks ago after a government deal with the rebels. There was still no sign of any offers for oil from Es Sider.

Earlier on Wednesday, a senior Libyan oil official did not expect any exports from either the Es Sider or Ras Lanuf ports before August.

Traders have been slow to jump at the chance of buying Libyan crude owing to worries over quality after a lengthy storage time and high prices set by NOC.

NOC has had to sell some Mellitah crude at steep discounts to its official price of dated Brent plus 40 cents a barrel on a fob basis, as alternative grades are selling well below dated Brent.

(Reporting by Julia Payne; editing by Jane Baird and Elaine Hardcastle)  
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6 days ago

Oil & Gas News

Oil & Gas News Business News
Released:  18/07/20142014-07-18
Word count:  250

Libya has exported two cargoes of medium sulfur straight run fuel oil from Zawiya as the country begins to increase exports of crude and products following a recent deal with rebels, sources said Thursday.

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Platts
"There are no low sulfur straight run cargoes being exported from Libya at the moment, but they have indeed exported two medium sulfur straight run cargoes of 1.5-1.7% sulfur," a trader said, adding that the Zawiya refinery recently bought a cargo of sourer Al Jurf crude which produced more medium sulfur straight run fuel oil.

Zawiya is usually fed by the Sharara crude field in the southwest corner of the country which produces a light, low-sulfur crude.

But the plant was forced to turn to alternative grades after protesters shut in the field in March, prompting flows of Sharara to dry up. The refinery had been relying on crude supplies from Marsa al-Brega and Marsa el-Hariga, both of which supply sweet crude, while the Sharara field was off-line. Most of Libya's land-based crudes are light and sweet.

However, Marsa al-Hariga was briefly closed by renewed protests in early-June, prompting the country's state-owned National Oil Corp. to divert exports from the offshore terminals of Bouri and Jurf, which produce a much heavier, more sulfurous crude grade, and thus more medium sulfur straight run fuel oil.

Sources said Libya had in the past exported about eight cargoes a month of straight run fuel oil, but far less during the recent protests. The 120,000 b/d Zawiya refinery has been operational through most of the recent crisis in Libya, albeit at significantly reduced rates.

--Marko Trtica, marko.trtica@platts.com --Paula Vanlaningham, paula.vanlaningham@platts.com --Edited by Jeremy Lovell, jeremy.lovell@platts.com  
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6 days ago

Oil & Gas News

Oil & Gas News Contract News

ZUG, Switzerland--(BUSINESS WIRE)--Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its Global Engineering and Construction Group, in joint venture with Taknia Libya Engineering Company (Taknia), has been awarded a front-end engineering design (FEED) contract by Nafusah Oil Operations B.V. Libyan Branch for an onshore oilfield development, known as the Area 47 Development Project in Libya.

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Business wire 
Area 47 (North Hamada Field) is located in the Hamada region, approximately 200 km south of Tripoli, in the Ghadames Basin.

The Foster Wheeler contract value was not disclosed and will be included in the company’s second-quarter 2014 bookings. The planned development will consist of approximately 34 producing wells, including eleven existing wells and approximately 23 new wells, flow-lines and a common gathering trunk-line to transport the well fluids to the central gas oil separation facility for primary treatment. After separation, the oil and gas produced will be exported through new pipelines that will be connected into existing pipelines carrying products to the Mellitah delivery terminal, in the northwest of Libya, on the Mediterranean Sea, for export. The planned design capacity of the gas oil separation facility is 50,000 barrels per day (BPD) of oil, 90 million standard cubic feet per day of gas and associated water (to be re-injected into the reservoirs).

“Foster Wheeler has been involved in the Area 47 Development Project for some time, having completed the conceptual study in 2012 and worked on the FEED definition in 2013,” said Roberto Penno, Chief Executive Officer, Foster Wheeler Global Engineering and Construction Group. “Area 47 is located in a relatively remote part of Libya, so the facilities are being designed on a modular basis in order to minimize on-site construction and installation activities, and to accommodate future expansion.”

“Taknia Libya Engineering Company looks forward to the joint execution of this FEED project with Foster Wheeler,” said Tayeb Said, Managing Director, Taknia Libya Engineering Company. “We hope this partnership will open the door for more co-operation between the two parties to execute more projects in the Libyan market and more significantly help enhance the technology transfer program that Taknia is implementing.”

“To achieve first oil production by the end of 2016, Nafusah is looking forward to have this FEED project completed on schedule or even before in order to start the second phase of the project as early as possible in 2015,” said Mohamed Jamaleddin, Chairman of the Operating Management Committee, Nafusah Oil Operations B.V. Libyan Branch. “We trust that the in-depth technical expertise of the Foster Wheeler and Taknia joint venture will ensure the successful and safe delivery of a high quality project for Nafusah.” Nafusah Oil Operations was formed as a joint operating company by PT Medco Energi Internasional, through its subsidiary Medco International Ventures Limited (MedcoEnergi), of Indonesia, with its partners, the National Oil Corporation of Libya and the Libyan Investment Authority. Nafusah Oil Operating Company will act as the operator for the development and production phases of Area 47. Foster Wheeler AG is a global engineering and construction company and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company employs approximately 13,000 talented professionals with specialized expertise dedicated to serving its clients through one of its two primary business groups.

The company’s Global Engineering and Construction Group designs and constructs leading-edge processing facilities for the upstream oil and gas, LNG and gas-to-liquids, refining, chemicals and petrochemicals, power, minerals and metals, environmental, pharmaceuticals, biotechnology and healthcare industries. The company’s Global Power Group is a world leader in combustion and steam generation technology that designs, manufactures and erects steam generating and auxiliary equipment for power stations and industrial facilities and also provides a wide range of aftermarket services. The company is based in Zug, Switzerland, and its operational headquarters office is in Reading, United Kingdom.

For more information about Foster Wheeler, please visit our website at www.fwc.com.

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6 days ago

News Releases

News Releases Contract News
Released:  17/07/20142014-07-17
Word count:  465

DFID Security, Justice and Defence Programme in Libya: Securing a safer environment for our projects’ beneficiaries, as well as WYG employees

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WYG
We are pleased to announce that we are partnering with Cardno Limited, Upper Quartile, Altai and KBR on a major new Department for International Development (DFID) contract in Libya. The contract is part of the UK's Security, Justice and Defence programme in Libya and is funded and overseen by DFID, the Foreign & Commonwealth Office and Ministry of Defence.

After 42 years of autocracy undermining the foundations of the state and society, Libya is in the process of re-building itself. Over the next 3 years, we will be supporting the Libyan authorities in providing more effective, accountable and sustainable security, justice and defence for its citizens to create a safer place for them to live in. The £28 million contract involves overseeing the training of police officers and judicial police and supporting reform in government ministries and courts. Other components of the programme will include management of weapons stockpiling and decommissioning.

With our increasing number of programmes in fragile and conflict affected states (FCAS), it is also important to ensure the safety of all our people involved in our projects.

Mick Allen, Group Security Manager, WYG, highlights the duty of care we have invested in:

''As a business we have taken the approach to invest heavily in the protection and safety of employees working in FCAS environments such as Libya. This investment commences as early as the bid stage through to winning the bid and then preparing personnel for deployment with internal and external training, medical equipments, GPS tracking devices, communication devices and 24/7 safety and security support.'' He added: “Does this sound like a big investment? It is. From a strategic to operational level the intent is to provide a structure and service level that allows employees’ safety and security to be second to none which not only supports individuals and the team but sets us apart from our peer group as being best in class, which its hoped we will capitalise on through further international development opportunities adding wider revenue streams to the business.”

Paul Hamer, CEO, is very pleased with the latest addition to our portfolio of large-scale projects:

"This contract win is a major achievement as it is the single largest stabilisation project in Libya tendered by DFID to date, demonstrating WYG's expertise and leadership in delivering critical, strategic programmes in fragile and conflict affected states over the past 20 years as well as its ability to create growth by working closely with globally recognised partners such as Cardno.''

He added: "It builds on our experience in delivering large scale and complex projects, which include the £68 million Infrastructure Projects Facility (IPF) in the Western Balkans, and positions us well to continue building on our key strength in fragile states by converting our strong pipeline of opportunities."

Deployment in Libya’s capital, Tripoli, began last month
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