An Open Invitation to Purchase of one (FM-200) Filling Station for Ras Lanuf

View Videos sort by date sort by channel
Page

Oil & Gas News

Oil & Gas News
Released:  17/07/20142014-07-17
Word count:  532

Crude oil prices dropped nearly $1/bbl on both the New York and London markets in July 15 trading with oil settling on the New York market at under $100/bbl on reports that Libya’s oil production was growing faster than expected.

Play
Oil and Gas Journal
Libya’s National Oil Corp. said the nation’s oil production had reached 600,000 b/d, and analysts noted that level remained well below previous production of 1.6 million b/d.

Production climbed recently after the Libyan government reached a deal with rebels to reopen most eastern ports that had been blocked.

The oil production ramp-up largely stems from resumption of operations in Sharara, the country’s largest field, which is reportedly producing about 250,000 b/d compared with its normal capacity of 340,000 b/d. Still violence continued on July 13 in Tripoli, where fighting between rival militias resulted in at least 6 deaths and 25 people injured.

In Vienna, US and Iranian officials said they made progress on talks regarding Iran’s nuclear program. Analysts noted an agreement could trigger the eventual lifting of sanctions on Iran’s oil exports, which would add more oil to world supply.

Regarding US oil supplies, the Energy Information Administration estimated crude oil inventories, excluding the Strategic Petroleum Reserve, decreased 7.5 million bbl for the week ended July 11 compared with the previous week.

At 375 million bbl, crude oil inventories are near the upper limit of the average range for this time of year, EIA said in its weekly petroleum status report. Analysts surveyed by The Wall Street Journal had expected a decline of 2.6 million bbl.

Separately, the American Petroleum Institute said its inventory showed oil supplies fell 4.8 million bbl. Gasoline inventories grow

Total motor gasoline inventories increased 200,000 bbl for the week ended July 11, and EIA said that level was in the middle of the average range. Finished gasoline inventories decreased while blending components inventories increased.

Distillate fuel inventories increased 2.5 million bbl and are near the lower limit of the average range for this time of year. Propane-propylene inventories rose 3.2 million bbl, which EIA said was near the upper limit of the average range.

US refinery inputs averaged 16.6 million b/d during the week ended July 11, which was 374,000 b/d higher than the previous week’s average. Refineries operated at 93.8% of capacity last week. Gasoline production decreased, averaging 9.1 million b/d, and distillate fuel production increased, averaging 5.2 million b/d.

US crude oil imports averaged 7.4 million b/d for the week ended July 11, up 142,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 7.3 million b/d, 5.2% below the same 4-week period last year. Total motor gasoline imports, including both finished gasoline and gasoline blending components, last week averaged 615,000 b/d while distillate imports averaged 68,000 b/d.

Energy prices

The New York Mercantile Exchange August crude oil contract dropped 95¢ on July 15, closing at $99.96/bbl. The September contract also fell 95¢ to $99.53/bbl.

The natural gas contract for August declined 5¢ to a rounded $4.10/MMbtu. On the US cash market, gas at Henry Hub, La., was $4.11/MMbtu, up 1¢.

Heating oil for August delivery dropped 1.7¢ to a rounded $2.86/gal. Reformulated gasoline stock for oxygenate blending for August delivery declined 2.7¢ to a rounded $2.90/gal.

The August ICE contract for Brent crude delivery was down 96¢ to $106.02/bbl. The September contract declined 83¢ to $106.88/bbl. The ICE gas oil contract for August declined $9.75 to $873.50/tonne.

The Organization of Petroleum Exporting Countries’ basket of 12 benchmark crudes for July 15 was $103.65/bbl, down 49¢.

Contact Paula Dittrick at paulad@ogjonline.com.
Comments:

Fresh Cut BG / SBLC, MTN Specifically for Lease @(5.0 + 0.5 + X)%.Intermediaries/Consultants/Brokers are welcome to bring their clients and are 100% protected We are direct to a provider for BG/SBLC specifically for lease, at leasing price of (5.0 + 0.5 + X)% of face value, Issuance by HSBC London/Hong Kong or any other AA rated Bank in Europe, Middle East or USA. Our BG/SBLC Financing can help you get your project funded, loan financing by providing you with yearly renewable leased bank instruments. We work directly with issuing bank lease providers, this Instrument can be monetized on your behalf for 100% funding: For further details contact us with the below information.

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

Sorin Lassmann
9 months ago

News Releases

News Releases

The European Union welcomed the proposal of Libya to organize a regional conference on migration.

Play
Libyan investment
The European Union welcomed the Libyan government's proposal to organize a regional conference on migration to study the problem of dealing with the influx of displaced persons and refugees across the Mediterranean. The European Union Commission is awaiting the results of the meeting of the head of the Libyan government with the EU ambassadors in Tripoli in detail as it is possible to organize a conference on migration in accordance with the Libyan proposal and can increase the long-term cooperation between Libya and the European Union.
Comments:

News Releases

News Releases
Released:  17/07/20142014-07-17
Word count:  393

LONDON, July 16 (Reuters) - Rising oil exports from Libya after months of disruption helped push Mediterranean tanker rates to the highest levels in nearly six months on Wednesday, and shipping players expected more gains in earnings as shipments from the OPEC member step up.

Play
Reuters
Aframax tankers on the Mediterranean route, which transport the majority of Libya's crude oil, normally carry loads of up to 600,000-700,000 barrels. Rates have been depressed in recent months due in part to slower exports from Libya.

Cross Mediterranean rates for aframax tankers rose on Wednesday to W126.70 in the worldscale measure of freight rates, or $32,080 a day when translated into average earnings, their highest level since late January, Baltic Exchange data showed.

"Aframax spot markets suffered in June but have near-term upside potential with Libyan crude exports rising," consultants MSI said. Libya's output has been recovering since a deal with rebels to bring most of its port blockades to an end, although the process is expected to be slow.

"If Libyan oil terminals stay open, tanker rates could go higher from here," investment bank RS Platou Markets said. Wednesday's rates compared with W102.75 or $17,874 a day on Tuesday and W85.50 or $7,958 a day on Wednesday last week. "As there's still a couple of cargoes left in the market, we may see rates increasing even more," broker Fearnleys said on Wednesday. With the return of some eastern output and the restart of a major western oilfield, the OPEC member's production has recovered to nearly 600,000 barrels per day (bpd), compared with its pre-oil crisis level of 1.4 million bpd, its acting oil minister said on Tuesday.

Oil traders remained cautious about any quick return of full Libyan exports. An oil official said on Wednesday Libyan would not be able to export oil through its two largest eastern ports before August, due to safety checks after a near year-long closure.

Violence also continued, with at least 15 people killed in the capital and the eastern city of Benghazi since Sunday. Fighting between rival militias has transformed Tripoli's airport into a battlefield, cutting the Libyan capital off from the outside world.

In other markets, brokers said rates on the world's benchmark VLCC export route from the Middle East Gulf to Japan DFRT-ME-JAP were expected to ease off due to softer activity after the end of July's export forward loading programme.

VLCC rates reached W45.93 on Wednesday or $19,568 a day from W46.97 or $21,229 a day on Tuesday and W49.90 or $25,748 a day last Wednesday.

"The July program is pretty much concluded while the August fixings are not in full swing yet," broker Marex Spectron said. (editing by Jane Baird)
Comments:

News Releases

News Releases

The Ministry of Defence has appointed the technology-enabled language solution provider, thebigword, to deliver interpreting for its training of the Libyan military.

Play
thebigword.com
The Ministry of Defence has appointed the technology-enabled language solution provider, thebigword, to deliver interpreting for its training of the Libyan military.

Under the contract, awarded following a competitive tendering process, thebigword will provide up to 55 interpreters a day who will work intensively alongside the UK and Libyan troops covering everything from classroom learning to military exercises. thebigword is the only language solution provider in Europe to have a dedicated Defence Division.

The operation has been designed to provide specialist military training to the Libyan Armed Forces. The British/Libyan military training will take place at Bassingbourn Barracks, Cambridgeshire; the American and Italian military have already begun similar programmes. The initial tranche of training will involve 360 Libyan troops and is expected to last for 24 weeks with potentially up to 2,000 Libyan troops being trained in total.

Major Graham Martin from Directorate of Educational Capability in Army HQ says: “The Libyan General Purpose Force training is a complex and high profile operation. It was therefore crucial that we found a professional organisation that fully understood the multifaceted nature of this contract, using highly professional linguists. We are excited to be working with thebigword and we are confident they can deliver all of our requirements” In tendering for the contract, thebigword drew on its experience of providing interpreters to support military operations in Afghanistan and other locations deemed classified. To ensure it found the right interpreters for the role, the company partnered with the International School of Linguists and used a Libyan assessor to test not only proficiency in Arabic but also Libyan dialect and the physical and mental ability to manage such high intensity work.

David Capper, Divisional Director of thebigword Defence, Justice and International Security Division, says: “We are delighted to be awarded the contract by the MoD and this is testament to the growing reputation that thebigword is building within the Defence sector, delivering language and cultural training across the Middle East.”

For more information on our Defence and International Security Division – www.thebigword.com/defence-and-justice/
Comments:

Oil & Gas News

Oil & Gas News
Released:  16/07/20142014-07-16
Word count:  77

Libya oil production up to 588,000 bpd-acting oil minister

Play
Reuters
TRIPOLI (Reuters) - Libya's oil production has risen to 588,000 barrels per day (bpd), the country's acting oil minister told Reuters on Tuesday, despite an increase in violence in the country since the weekend.

Oil output has been recovering since a deal with rebels to bring most of the rebel-led port blockades to an end. On Sunday a spokesman for the National Oil Corp said output was at 470,000 bpd as production at the El Sharara oilfield ramps up.
Comments:

Fresh Cut BG / SBLC, MTN Specifically for Lease @(5.0 + 0.5 + X)%.Intermediaries/Consultants/Brokers are welcome to bring their clients and are 100% protected We are direct to a provider for BG/SBLC specifically for lease, at leasing price of (5.0 + 0.5 + X)% of face value, Issuance by HSBC London/Hong Kong or any other AA rated Bank in Europe, Middle East or USA. Our BG/SBLC Financing can help you get your project funded, loan financing by providing you with yearly renewable leased bank instruments. We work directly with issuing bank lease providers, this Instrument can be monetized on your behalf for 100% funding: For further details contact us with the below information.

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

Sorin Lassmann
9 months ago

Oil & Gas News

Oil & Gas News
Released:  15/07/20142014-07-15
Word count:  114

Tripoli, Libya (PANA) – The Libyan National Oil Company (NOC) on Monday announced an increase in oil production in the North African country to 470,000 barrels/day, the highest level in the past few months, when activities of protest movements saw production plunge to under 200,000 barrels.

Play
Pana press
The rise followed the resumption of production at the al-Charara oilfield in the south, with a capacity of 340,000 barrels/day, after several months of blockade by protesters, an NOC spokesperson said.

He added that the oilfield was presently producing on average 90,000 barrels/day. The spokesperson said that the protesters had, however, since last Saturday, started blocking the Brega oilfield in the east.

Production in Libya, the fourth African oil producer, with 1.6 million barrels/day before the 2011 revolution that ousted the regime of Mouamar Kadhafi, returned in 2012 to 1.5 million barrels/day before dropping again to less than 200,000 barrels/day after the closure of several oil terminals. -0- PANA/BY/BEH/IBA/MSA/MA 14July2014
Comments:

Fresh Cut BG / SBLC, MTN Specifically for Lease @(5.0 + 0.5 + X)%.Intermediaries/Consultants/Brokers are welcome to bring their clients and are 100% protected We are direct to a provider for BG/SBLC specifically for lease, at leasing price of (5.0 + 0.5 + X)% of face value, Issuance by HSBC London/Hong Kong or any other AA rated Bank in Europe, Middle East or USA. Our BG/SBLC Financing can help you get your project funded, loan financing by providing you with yearly renewable leased bank instruments. We work directly with issuing bank lease providers, this Instrument can be monetized on your behalf for 100% funding: For further details contact us with the below information.

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

Sorin Lassmann
9 months ago

News Releases

News Releases
Released:  14/07/20142014-07-14
Word count:  94

Libya investment fund appoints new chief

Play
Mubasher
The Libyan Investment Authority (LIA), the sovereign wealth fund of the North African oil producer, has appointed a new chief after his predecessor stepped down over a controversial political law, Arab News reported.

Former Oil Minster Abdulrahman Benyezza has taken over as acting head of the fund, the LIA said. His predecessor Abdulmagid Breish quit after an investigation under a law which bans people from taking a public office if they had a function in the regime of late strongman Muammar Qaddafi, who was deposed and killed by rebels after an eight-month uprising in 2011.
Comments:

Oil & Gas News

Oil & Gas News
Released:  14/07/20142014-07-14
Word count:  423

Brent crude traded near the lowest price in three months as Libya’s oil output continued to increase, easing the threat of supply disruptions from the Middle East. West Texas Intermediate fell in New York.

Play
Bloomberg
Futures were little changed in London after capping a 3.6 percent weekly decline, the most since January. Production from Libya, the holder of Africa’s biggest crude reserves, climbed to 470,000 barrels a day, state-run National Oil Corp. said yesterday. Supply from Iraq, OPEC’s second-largest producer, remains unaffected by an insurgency that flared last month.

“We have rising supply out of the Middle East and that casts a negative feel over the market,” Jonathan Barratt, the chief investment officer at Ayers Alliance Securities in Sydney, said by phone. “This is also a period where we should be seeing tighter supply in the U.S. but we’re not really getting that.”

Brent for August settlement was at $106.64 a barrel on the London-based ICE Futures Europe exchange, down 2 cents, at 2:50 p.m. Singapore time. The contract dropped $2.01 to $106.66 on July 11, the lowest close since April 7. The volume of all futures traded was twice the 100-day average. Prices are down 3.8 percent this year.

WTI for August delivery decreased as much as 49 cents, or 0.5 percent, to $100.34 a barrel in electronic trading on the New York Mercantile Exchange. The U.S. benchmark crude was at a discount of $6.21 to Brent, compared with $5.83 at the end of last week.

Libyan Output

Brent fell for a third week on July 11 as the Sharara field resumed and two oil-export terminals reopened in Libya. The nation pumped 300,000 barrels a day in June, ranking it as the smallest producer in the Organization of Petroleum Exporting Countries, data compiled by Bloomberg show.

Rebels seeking self-rule in eastern Libya said they’re committed to an agreement to reopen Es Sider, the nation’s biggest oil port, distancing themselves from a protest that shut a smaller facility. Es Sider has the capacity to load 340,000 barrels a day, according to the Oil Ministry.

In Iraq, 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 crude output.

Brent is halting its drop as a technical indicator shows futures have probably slid too quickly to sustain further losses, data compiled by Bloomberg show. The 14-day relative strength index is below 30 for a second day today, signaling the market may be oversold.

To contact the reporter on this story: Ben Sharples in Melbourne at bsharples@bloomberg.net

To contact the editors responsible for this story: Pratish Narayanan at pnarayanan9@bloomberg.net Yee Kai Pin, Alexander Kwiatkowski
Comments:

Fresh Cut BG / SBLC, MTN Specifically for Lease @(5.0 + 0.5 + X)%.Intermediaries/Consultants/Brokers are welcome to bring their clients and are 100% protected We are direct to a provider for BG/SBLC specifically for lease, at leasing price of (5.0 + 0.5 + X)% of face value, Issuance by HSBC London/Hong Kong or any other AA rated Bank in Europe, Middle East or USA. Our BG/SBLC Financing can help you get your project funded, loan financing by providing you with yearly renewable leased bank instruments. We work directly with issuing bank lease providers, this Instrument can be monetized on your behalf for 100% funding: For further details contact us with the below information.

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

Sorin Lassmann
9 months ago

Business News

Business News
Released:  14/07/20142014-07-14
Word count:  67

Chinese companies will resume their work in railway projects.

Play
Libyan investment
The President of the board for implementation and management of railways project hoped the return of Chinese companies to Libya to finish their projects stalled as soon as possible.

The Chinese Civil Architecture Company will implement rail paths in three projects, namely (Tripoli - Khoms - Sirte), (Heisha - Sabha) and (Tripoli - Ras Igder); the Company "Railway Russia" will implement the rail path (Sirt - Benghazi).

Comments:

Fresh Cut BG / SBLC, MTN Specifically for Lease @(5.0 + 0.5 + X)%.Intermediaries/Consultants/Brokers are welcome to bring their clients and are 100% protected We are direct to a provider for BG/SBLC specifically for lease, at leasing price of (5.0 + 0.5 + X)% of face value, Issuance by HSBC London/Hong Kong or any other AA rated Bank in Europe, Middle East or USA. Our BG/SBLC Financing can help you get your project funded, loan financing by providing you with yearly renewable leased bank instruments. We work directly with issuing bank lease providers, this Instrument can be monetized on your behalf for 100% funding: For further details contact us with the below information.

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

Sorin Lassmann
9 months ago

Business News

Business News
Released:  11/07/20142014-07-11
Word count:  69

British trade delegation, the first to return to Libya

Play
Mubasher
Ahigh level delegation scheduled to arrive from the United Kingdom in September. This may be a sign that confidence is rising and investors are ready to return, Libya Herald website reported.



This comes after the House of Representatives elections, in a step on the way back to political stability, and also after the recent resumption of oil exports from main ports, which restores Libya’s full oil exports nearly.
Comments:

Fresh Cut BG / SBLC, MTN Specifically for Lease @(5.0 + 0.5 + X)%.Intermediaries/Consultants/Brokers are welcome to bring their clients and are 100% protected We are direct to a provider for BG/SBLC specifically for lease, at leasing price of (5.0 + 0.5 + X)% of face value, Issuance by HSBC London/Hong Kong or any other AA rated Bank in Europe, Middle East or USA. Our BG/SBLC Financing can help you get your project funded, loan financing by providing you with yearly renewable leased bank instruments. We work directly with issuing bank lease providers, this Instrument can be monetized on your behalf for 100% funding: For further details contact us with the below information.

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

Sorin Lassmann
9 months ago

Oil & Gas News

Oil & Gas News
Released:  11/07/20142014-07-11
Word count:  227

TRIPOLI, Libya (AP) - Production at one of Libya's largest oilfield restarted, pumping at more than 90 percent of its capacity in a boost to the troubled North African nation, a Libyan official said Wednesday.

Play
Wxow
The pumping at southwestern Sharara oilfield, one of Libya's largest at 340,000 barrels per day, had been intermittently shut down because of protests in the area over financial and political demands.

The resumption of production comes days after the central government resolved another dispute with militias in the country's east that had caused exports from two of the country's oil ports to stop for almost a year.

The disputes over oil had knocked the country's regular 1.6 million barrels per day production down by 80 percent, seriously hurting revenues, as well as the central's government grip on power.

Mohammed al-Harari, spokesman for the National Oil Corporation, said that 325,000 barrels per day are being pumped from the Sharara oilfield since it reopened. Production resumed a day earlier.

The National Oil Corporation lifted a force majeure from two other eastern ports - Ras Lanuf and al-Sidra - on Sunday, following an agreement with rebels in the area to end their control over them.

The rebels had been demanding a share of the oil revenues and a degree of political autonomy. Production there has not resumed yet.

Libya has been struggling with a motley of militias vying for power, political disputes between Islamists and non-Islamist forces over control of the parliament and government, and rampant violence.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Comments:

GENUINE BANK GUARANTEE (BG) AND STANDBY LETTER OF CREDIT (SBLC) FOR LEASE AT THE LOWEST RATES AVAILABLE. OTHER FINANCIAL INSTRUMENTS SUCH AS MTN, CD, DLC, PB ARE ALSO AVAILABLE.

We offer certifiable and verifiable bank instruments via Swift Transmission from a genuine provider capable of taking up time bound transactions.

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

Email me for procedure and terms.

Sorin Lassmann
9 months ago

Oil & Gas News

Oil & Gas News
Released:  11/07/20142014-07-11
Word count:  311

(Reuters) - U.S. crude oil fell below $102 on Thursday, to trade at its lowest level in more than a month, on wavering demand for gasoline and projections for rising supplies from OPEC member Libya.

Play
Reuters
FUNDAMENTALS

* U.S. crude futures for August delivery fell 32 cents to $101.97 a barrel by 0002 GMT, after earlier trading as low as $101.72 - the lowest level since June 5. The benchmark contract finished $1.11 lower on Wednesday.

* U.S. crude stocks fell last week as refineries raised output, while gasoline inventories rose amid faltering demand, data from the U.S. government agency Energy Information Administration showed on Wednesday.

* Libya's oil industry hopes life will return to normal now that a wave of protests has ebbed, but it will take months to ramp up production and more unrest is in prospect as political chaos spreads in the North African country.

* The Federal Reserve has begun detailing how it plans to ease the U.S. economy out of an era of loose monetary policy, indicating it will end its asset purchases in October and appearing near agreement on a plan to manage interest rates in the future, according to minutes of the last Fed policy meeting.

* Construction of the 600,000-barrel-per-day Flanagan South oil pipeline from Illinois to Oklahoma will be complete late in the third quarter, with the first oil flowing early in the fourth quarter, operator Enbridge said on Wednesday.

MARKETS NEWS

* The dollar started at one-week lows against a basket of major currencies on Thursday, coming under some pressure after minutes of the Federal Reserve's June meeting gave no clear indication on when interest rates will rise.

* U.S. equities finished higher on Wednesday, rebounding from a sharp two-day selloff, after minutes from the last U.S. central bank meeting showed policymakers have started to detail how the Federal Reserve will end its easy monetary policy.

DATA/EVENTS

* The following data is expected on Thursday: (Time in GMT)

0200 China Trade data June

0645 France Industrial output May

1230 U.S. Weekly jobless claims

1400 U.S. Wholesale inventories May

(Reporting by James Topham; Editing by Richard Pullin)
Comments:

GENUINE BANK GUARANTEE (BG) AND STANDBY LETTER OF CREDIT (SBLC) FOR LEASE AT THE LOWEST RATES AVAILABLE. OTHER FINANCIAL INSTRUMENTS SUCH AS MTN, CD, DLC, PB ARE ALSO AVAILABLE.

We offer certifiable and verifiable bank instruments via Swift Transmission from a genuine provider capable of taking up time bound transactions.

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

Email me for procedure and terms.

Sorin Lassmann
9 months ago

News Releases

News Releases
Released:  10/07/20142014-07-10
Word count:  193

Switzerland and the European Union (EU) have signed an agreement on Switzerland’s participation in the European Union Border Assistance Mission in Libya (EUBAM Libya).

Play
Libya business news
This agreement provides the basis for deploying a Swiss civilian border control specialist to Libya on a one-year mission.

With this deployment, Switzerland will round up its peace promotion activities in Libya and lend its support to European efforts to help stabilise the Maghreb and the Sahel.

EUBAM Libya aims to strengthen border control in the country and support the Libyan government in developing an integrated border management strategy (IBM).

These measures are intended to contribute to stabilising the country, developing the Libyan economy, and combating organised crime and terrorism.

Switzerland’s involvement in Libya is part of the Federal Council’s special programme for North Africa in 2011-2016. It also takes part in UN and EU peace missions in the context of its multilateral engagement in civilian peace promotion.

Switzerland has a long tradition of deploying civilian experts as part of its peace, human rights and humanitarian policy.

These experts are deployed on a needs basis for fixed-term civilian peace projects as election observers, police advisers, or specialists in constitutional law, customs and border control issues, mediation, rule of law, human rights and humanitarian law.

(Source: Mission of Switzerland to the EU)
Comments:

Oil & Gas News

Oil & Gas News
Released:  10/07/20142014-07-10
Word count:  293

Libya, the north African country whose crude exports collapsed last year amid protests and political feuding, will seek to revive shipments in a way that avoids oil-market disruption, its governor for OPEC said.

Play
Bloomberg
Protesters in the east of the country with Africa’s largest oil reserves reopened two ports at the start of this month, ending a yearlong blockade that helped decimate the nation’s supplies. Brent crude, the global benchmark, slid about 3.3 percent since the rebels said the terminals would restart.

“Our return to the market will be gradual and in coordination with our fellow member countries,” Samir Kamal, the nation’s governor for the Organization of Petroleum Exporting Countries, said by e-mail yesterday. Libya will take the same gradual approach toward sales of oil it has stored at the two terminals, he said.

Crude surged last year when the protesters halted four Libyan ports in an attempt to change how the country’s oil wealth is distributed. Two of those terminals resumed earlier this year, and the rebels said at the start of this month that they halted a blockade of Es Sider and Ras Lanuf, the largest and third-biggest. Neither has so far shipped cargoes.

Libya is producing 325,000 barrels a day of crude as of today, National Oil Corp. spokesman Mohamed Elharari said by phone today from Tripoli. A pipeline from the Sharara oil field resumed, allowing the deposit that can pump 340,000 barrels a day to restart.

Output will rise toward 1 million barrels a day as Es Sider and Ras Lanuf terminals resume exports, according to estimates from Petromatrix GmbH, a Vienna-based consulting firm.

Libya ended force majeure at the ports on July. 6, according to National Oil. Operators have been instructed to evaluate their facilities in order to resume operations, Kamal said.

To contact the reporter on this story: Wael Mahdi in Manama at wmahdi@bloomberg.net

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

GENUINE BANK GUARANTEE (BG) AND STANDBY LETTER OF CREDIT (SBLC) FOR LEASE AT THE LOWEST RATES AVAILABLE. OTHER FINANCIAL INSTRUMENTS SUCH AS MTN, CD, DLC, PB ARE ALSO AVAILABLE.

We offer certifiable and verifiable bank instruments via Swift Transmission from a genuine provider capable of taking up time bound transactions.

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

Email me for procedure and terms.

Sorin Lassmann
9 months ago

Business News

Business News
Released:  09/07/20142014-07-09
Word count:  56

More than 480 million dinars for investment portfolios in the budget.

Play
Libyan investment
Allocated under Law No. 13 of 2014 on the adoption of the general budget of the state for the year 2014, an amount of 486,752,280 dinars to the owners of investment portfolios.

The allocation of 237,438,000 dinars will be for the owners of the investment portfolios of the basic pension and 249,314,280 dinars to the owners of the investment portfolios of pensions.
Comments:

GENUINE BANK GUARANTEE (BG) AND STANDBY LETTER OF CREDIT (SBLC) FOR LEASE AT THE LOWEST RATES AVAILABLE. OTHER FINANCIAL INSTRUMENTS SUCH AS MTN, CD, DLC, PB ARE ALSO AVAILABLE.

We offer certifiable and verifiable bank instruments via Swift Transmission from a genuine provider capable of taking up time bound transactions.

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

Email me for procedure and terms.

Sorin Lassmann
9 months ago

News Releases

News Releases
Released:  09/07/20142014-07-09
Word count:  148

Afriqiyah Airways (8U, Tripoli Int'l) management have held preliminary talks with their counterparts in Senegal Airlines (DN, Dakar) regarding a possible Libyan investment into the struggling Senegalese airline.

Play
Ch-aviation
Libyan Deputy Prime Minister of Technical Affairs, Abdul Salam Algadi, told Senegalese Television that Afriqiyah could make generous resources available to the Senegalese carrier in the near future.

"We are aware of the difficulties facing the Senegalese airline. We just want to assure you of our support for the re-launch of Senegal Airlines, in a win-win partnership," he said, adding that "Senegal will soon have a competitive airline."

As frequently reported by ch-aviation, Senegal Airlines is faced with a bleak future having recently returned its last of three A320s to lessor, CIT Aerospace. As it currently stands, operations still continue though using a B737-300 and a CRJ-200 wet-leased from Eastern SkyJets (EE, Dubai Int'l) and CemAir (5Z, Johannesburg O.R. Tambo) respectively.

For its part, the Libyan carrier has been looking to re-establish its sub-Saharan African network, abandoned following the overthrow of Muammur Gaddhafi's regime in 2011.
Comments:

Oil & Gas News

Oil & Gas News
Released:  09/07/20142014-07-09
Word count:  410

(Reuters) - Libya's oil sector took another big step back to normality with the restarting of an oilfield that could double its current meager crude output, a week after blockades ended at major ports.

Play
Reuters
The 340,000 barrels per day El Sharara oilfield has resumed operations after protesters ended a four month strike, state-run National Oil Corp (NOC) said on Tuesday,

The field is in Libya's remote southwest and its connecting pipelines have been blocked several times since the autumn by protesters making financial and political demands, part of nationwide blockades of fields and oil ports. Last week, eastern rebels handed over to the government the Ras Lanuf and Es Sider oil ports, ending an almost year-long occupation. Both terminals had accounted for 500,000 bpd.

Experts say, however, it will take time to restart production as fields and pipelines will require maintenance after standing idle so long.

Still, the restart of El Sharara and the two eastern ports give hope to the weak central government to restore vital oil production and revenue to help fight a worsening budget crisis.

Output was 327,000 bpd on Tuesday, NOC said, a fraction of the 1.4 million barrels a day the OPEC member used to pump last summer when the protests started.

"El Sharara will return to production after the pipelines were opened," said NOC spokesman Mohamed El Harari, adding that pumping had started at 1400 local time. In May, NOC's production head Anwar Aghil said the field might take months to reach full output as at least 20 pumps inside wells need to be replaced. Operator Akakus, run by NOC and Spain's Repsol, might need up to six month to fix the pumps.

On Sunday, NOC lifted force majeure from the Ras Lanuf and Es Sider ports after rebels agreed to end a blockade. The waiver of contractual obligations was imposed last summer.

Disputes over Libya's oil resources have been among the many triggers for conflict between rival brigades of former rebels and allied political factions since civil war ended four decades of Muammar Gaddafi one-man rule in 2011. The government and parliament in Tripoli are too weak to control heavily-armed militias which helped topple Gaddafi but now defy state authority and carve out small fiefdoms in the vast desert country.

Eastern port rebel leader Ibrahim Jathran had agreed in April to reopen two smaller eastern ports, Zueitina and Hariga, and then gradually free up Es Sider and Ras Lanuf.

After that deal, shipments from Zueitina were delayed because of damage from the blockade, while Hariga has seen only a few tanker loadings, hampered by a separate protest temporarily closing the port again.

(Reporting by Feras Bosalum; Writing by Ulf Laessing; Editing by William Hardy)  
Comments:

GENUINE BANK GUARANTEE (BG) AND STANDBY LETTER OF CREDIT (SBLC) FOR LEASE AT THE LOWEST RATES AVAILABLE. OTHER FINANCIAL INSTRUMENTS SUCH AS MTN, CD, DLC, PB ARE ALSO AVAILABLE.

We offer certifiable and verifiable bank instruments via Swift Transmission from a genuine provider capable of taking up time bound transactions.

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

Email me for procedure and terms.

Sorin Lassmann
9 months ago

Oil & Gas News

Oil & Gas News
Released:  08/07/20142014-07-08
Word count:  70

TRIPOLI, July 7 (Reuters) - Libya's oil output is currently 326,000 barrels a day, a spokesman for National Oil Corp (NOC) said on Monday.

Play
Reuters
NOC spokesman Mohamed El Harari also said the western El Sharara oilfield was still blocked by a protest at a connecting pipeline.

He said it was too early to say when the first tanker would dock at the eastern ports of Ras Lanuf and Es Sider to load oil from storage after rebels handed over the terminals to the government last week.

(Reporting by Ulf Laessing; editing by Jason Neely)
Comments:

GENUINE BANK GUARANTEE (BG) AND STANDBY LETTER OF CREDIT (SBLC) FOR LEASE AT THE LOWEST RATES AVAILABLE. OTHER FINANCIAL INSTRUMENTS SUCH AS MTN, CD, DLC, PB ARE ALSO AVAILABLE.

We offer certifiable and verifiable bank instruments via Swift Transmission from a genuine provider capable of taking up time bound transactions.

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

Email me for procedure and terms.

Sorin Lassmann
9 months ago

Oil & Gas News

Oil & Gas News
Released:  08/07/20142014-07-08
Word count:  245

Crude-oil futures fell in Asian hours Monday and traded near three-week lows as markets weighed weak demand fundamentals and the possibility of higher Libyan supply.

Play
Market watch
On the New York Mercantile Exchange, light, sweet crude futures for delivery in August traded at $103.79 a barrel at 0614 GMT, down $0.27 in the Globex electronic session. August Brent crude on London's ICE Futures exchange fell $0.07 to $110.57 a barrel.

Libya said Sunday it has lifted force majeure at the ports of Es Sider and Ras Lanuf, which account for nearly half of the country's oil exports.

Previous agreements with rebels to open the ports came to nothing and "we are sceptical about the resumption of exports and will believe it when we see it," said Michael Wittner, global head of oil research at Societe Generale.

He said even if the agreement between the government and rebels holds, it may take another week or two to inspect the oilfields and export facilities for damage and to conduct repairs.

In addition to easing geopolitical concerns over Iraq, physical oil markets are under pressure from soft refining margins in Europe and Asia where refineries have had to cut operating rates.

Mr. Wittner expects this situation to be temporary. "As we get into the third quarter, refining margins should be supported by stronger global product demand growth, much of which will be for distillate," he said.

Nymex reformulated gasoline blendstock for August--the benchmark gasoline contract--fell 81 points to $3.0117 a gallon, while August heating oil traded at $2.9194, 89.99999 points lower.

ICE gasoil for July changed hands at $897.25 a metric ton, down $0.50 from Friday's settlement.

Write to Eric Yep at eric.yep@wsj.com
Comments:

GENUINE BANK GUARANTEE (BG) AND STANDBY LETTER OF CREDIT (SBLC) FOR LEASE AT THE LOWEST RATES AVAILABLE. OTHER FINANCIAL INSTRUMENTS SUCH AS MTN, CD, DLC, PB ARE ALSO AVAILABLE.

We offer certifiable and verifiable bank instruments via Swift Transmission from a genuine provider capable of taking up time bound transactions.

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

Email me for procedure and terms.

Sorin Lassmann
9 months ago

Oil & Gas News

Oil & Gas News
Released:  07/07/20142014-07-07
Word count:  272

The price of crude oil slipped below $104 a barrel Friday, extending its drop to seven straight days, as expectations of increased supply offset strong U.S. employment growth.

Play
Yahoo news
By early afternoon in Europe, the benchmark U.S. crude contract for August delivery was down 74 cents to $103.74 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, a benchmark for international oils, was down 63 cents to $110.61 a barrel on the ICE Futures exchange in London.

U.S. markets are closed Friday for the Fourth of July holiday and trading volumes in other markets were thinner than usual. Crude fell despite signs the U.S. economy is steadily improving, which typically would increase demand for oil. The U.S. government reported that employers added a strong 288,000 workers to their payrolls in June and the unemployment rate fell to 6.1 percent.

The positive economic news, however, also strengthened the dollar, a factor that weighed on oil prices by making crude more expensive — and a less attractive investment — for traders using other currencies.

Oil has been sliding since it reached a 10-month closing high of $107.26 on June 20, when concerns had grown over the stunning advance by Islamic militants in controlling Iraqi territory. Since then, it has become clear that there are no imminent disruptions to supplies from Iraq, OPEC's second biggest producer.

On top of that, an agreement in Libya between the central government and a regional militia was expected to lead to the reopening of two eastern oil terminals that would boost the country's crude exports by about 500,000 barrels a day. Libya currently produces around 350,000 barrels of oil a day.

In other energy futures trading on the Nymex:

— Wholesale gasoline was down 0.99 cent at $3.014 a gallon.

— Natural gas lost 0.5 cent to $4.352 per 1,000 cubic feet.

— Heating oil fell 2.54 cents to $2.9207 a gallon.
Comments:

GENUINE BANK GUARANTEE (BG) AND STANDBY LETTER OF CREDIT (SBLC) FOR LEASE AT THE LOWEST RATES AVAILABLE. OTHER FINANCIAL INSTRUMENTS SUCH AS MTN, CD, DLC, PB ARE ALSO AVAILABLE.

We offer certifiable and verifiable bank instruments via Swift Transmission from a genuine provider capable of taking up time bound transactions.

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

Email me for procedure and terms.

Sorin Lassmann
9 months ago
Find out what contracts are on offer in Libya
Page
  • 1
  • ...
View Videos
Page
  • 1
  • ...
Share the link for
Page
  • 1
  • ...
Page
  • 1
  • ...
Page
  • 1
  • ...
View Videos
Page
  • 1
  • ...
View Videos
Page
  • 1
  • ...
View Videos
Page
  • 1
  • ...