Oil markets cautious as rising U.S. output undermines OPEC supply cuts

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Business News

Business News
Released:  25/01/20182018-01-25
Word count:  558

Libya was one of the most watched producing countries in 2017, as reviving production meant it was considered one of the countries most likely to undermine industry-wide efforts to tackle bloated inventory levels.

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Tanker shipping
However, when it signed up on 30 November to the accord to extend the OPEC-led production cut deal to the end of 2018, it agreed to cap production at 1M b/d, instantaneously removing itself as a candidate for the 2018 most-watched list. Instead, following further militant action to disrupt production in December, the primary question that will follow Libya in 2018 is whether it can sustain production at its new target level.

Having started the year with output down at less than 0.7M b/d, and fallen as low as 0.55M b/d in April, it was able to rebuild production to 1M b/d by July. However, despite plans to increase production to 1.2M b/d, production growth stalled in H2 2017 with output sustained in the range 0.88 to 0.97M b/d. In December production fell to 0.92M b/d, the lowest since August, primarily as the result of militant activities. On 26 December, a Libyan pipeline was blown up by terrorists. The blast, about 130 km (80 miles) south of the Es Sider terminal, cut output by between 70,000 and 100,000 b/d, according to NOC. In January, Libyan output is expected to recover to close to 1M b/d following repairs to the Es Sider pipeline and the restart of the Agoco operated fields.

The chart above shows the strength of the recovery in Libyan crude oil production as measured by the revival in exports last year. By Q4 2017, exports averaged close to 0.8M b/d, up from 0.45M b/d in Q4 2016 – although still well down on 2012 when exports averaged 1.3M b/d. We estimate that exports were equivalent to 81% of production in 2017.

Using AIS vessel movements data, we are able to build a comprehensive picture of Libyan exports by destination region that is at least three months more up-to-date than a similar profile generated from customs trade data. Our analysis reveals, that while exports to Asia revived quicker than for any other region in the H1 2017, the story was different in the second half of the year with southern Europe taking over as the primary growth market. Our vessel movements analysis also allows us to capture additional trade within the Mediterranean not captured by customs data sources – including to countries of the eastern Mediterranean.

Our AIS vessel movements analysis also allows us to reveal the distribution of tankers servicing the Libyan export market by vessel size. Aframax tankers are the work horses of the Libyan export trade accounting for 50% of total exports last year. Smaller tankers accounted for 29% of volumes during this period, while Suezmaxes (21%) made up the remainder. Despite being the least important tanker sector of the three classifications used here, there are signs that Suezmaxes are becoming more important to this trade as they accounted for 38% of total liftings in December.

Libyan crude oil export terminals are spread along its entire Mediterranean coastline. Around 40% of exports in 2017 were shipped through the western ports of Az Zawiya (28%) and Zuwarah (12%), while 20% went through the eastern port of Marsa el-Hariga. Adjabiya (12%), situated centrally along the coastline, was the next most important export port. A further seven ports provided the remaining 29% of liftings.

The above is an extract from the latest quarterly medium-term outlook for the tanker market from Richardson Lawrie Associates Ltd (RLA), a firm of international maritime economists and business consultants. More information can be found at www.richardsonlawrie.com.
Comments:

We are broker firm in London-UK, we have direct Provider of BG/SBLC specifically for Lease and Purchase, The provider is tested and trusted. We have been dealing with the company for the past 6years. Interested Agent/Lessee should contact us for directives.If you have need for corporate loans, international project funding, etc. or if you have a client who requires funding for his project or business we have all available.

For further details contact us with the below information....

Contact : Mr. SIVAJOTHI GNANATHEEVAM Email: leasingmandate@gmail.com

SIVAJOTHI GNANATHEEVAM
3 weeks ago

Business News

Business News

Company announces the Harouge Oil Operationis joint operating company on behalf of National Oil operation Libya and Suncor Oil (North Africa) GmbH, Announces an invitation to participate in tender no.TS-C(02/2018) AConstruction of 1 no. Shade for Fire Fighting Vehicles at Amal.

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NOC

For companies that have the required legal and valid documents.

BRIEF DESCRIPTION OF THE PROJECT     

  1. Location of the work

 

  1. Amal field
  2. General Brief Description of the work:

 

Shade for fire fighting vehicles at  Amal field

  1. AConstruction of 1 no. Shade for Fire Fighting Vehicles at Amal.
  2. Shade consists of reinforced concrete foundations & paving, steel columns,   beams and trusses. 
  3.  Shade roof consists of sandwich panels 50 mm thickness with insulation foam between 2 steel sheets.

    

  The appendices and specification attached to this contract and specified by reference show complete details of the work to be carried out under this contract. The said appendices, schedule, exhibits and designs shall constitute an integral part of the complete contract

 

To all specialized companies in this field and wish to participate in this tender who are technically capable to executing this tender, should send an approved reprehensive to collect the tender package

 

 

NOTE: That the date for collection the tender package commences on Sunday 04/02/2018 until Sunday11/02/2018from (9:30)am TO (12:30)pm.

 

 

 

The collection of the package is from tender Committee office fourth floor room (444) at the company head office in Tripoli. The package will be issued according to the following criteria:

 

  1. Official  letter addressed to HOO company’s

Chairman of Tender sub Committee confirming the desire to participate in this Tender.

  1. Representative of the interested company shall be authorized to collect the tender package and shall present an official document stamped with a company seal.
  2. Provide a copy of the following legal :

 

  • Valid license compatible with the required work.
  • Commercial Registration
  • Certificate of Registration in chamber of commerce.
  • Article of association.
  • Payment of tax certificate

 

4. In case of no queries / inquiries are received from the bidder prior to bid submittal , this will be deemed mean that the bidder had studied the scope / specification bid package , found it clear from both technical & commercial aspects , therefore in case of any shortages and / or change of specification from HOO original scope/ specification bid package ,shall result in disqualifying the bidder’s offer, and shall be excluded from further considerations with no obligation to HOO to request any clarification from the bidder.

 

 

 

5. Paying value of (300 D.L)three hundred Libyan dinars,As the price to buy the tender specifications brochurecash only which is non-refundable, issued by a Libyan bank in favor of HOO.

 

6. Bid bond with a value (4000L.D)four thousand Libyan diner submitted with your offer in the form of a certified check in envelope”D”, which shall be refunded in the event of failure to secure the tender. The check shall be issued by a Libyan bank in favour of HOO.

 

 

  • Bids are to be submitted by hand to Harouge Oil Operations, El- Magarab Street, Ghanat Al Arif, Tripoli, Libya, and Attention: Secretary of Tender Sub - committee, fourth floor room (444).

 

 

*       Contractor's quotation shall be returned in the form above mentioned on or before middy of  Sunday 18/02/2018

 

Said bids are to be signed, completed in ink and presented in a sealed envelope/package. The envelope/package shall be clearly and conspicuously marked - Quotation for

 

  Shade for fire fighting vehicles at  Amal field

 

  1. Tenderno TS-C(02/2018)

 

Within the sealed envelope/package there shall be three sealed envelopes:

  *Envelope (A) shall contain the technical sections of tender.

*Envelope (B) shall contain the commercial sections of tender without price.

*Envelope (C)shall contain the commercial sections of tender with price.

          *Envelope (D)shall contain the bid bond.

 

 

 

 

 

 

 

 

Writes the name of the project on each envelope –quotation for

 

Shade for fire fighting vehicles at  Amal field

 

  1. Tenderno TS-C(02/2018)

 

Notes: Any company or contractor interested in participating in this tender is responsible for all costs involved.

If you have any questions please contact the sub tender committee via :

FAX no. : 00218-21-3330081 EXT. 5043.

Email to:- Hafed.Eljenfawi@harough.com

 

 

 

 

 

 

 

Envelope B shall beclearly and conspicuously marked – ‘Envelope B Commercial without Prices– Quotation–

 

Shade for fire fighting vehicles at  Amal field

 

  1. Tenderno TS-C(02/2018)

 

 

Envelope C shall beclearly and conspicuously marked – ‘Envelope C Commercial with Prices–Quotation forI

 

Shade for fire fighting vehicles at  Amal field

 

  1. – Tenderno TS-C(02/2018)
Comments:

We are broker firm in London-UK, we have direct Provider of BG/SBLC specifically for Lease and Purchase, The provider is tested and trusted. We have been dealing with the company for the past 6years. Interested Agent/Lessee should contact us for directives.If you have need for corporate loans, international project funding, etc. or if you have a client who requires funding for his project or business we have all available.

For further details contact us with the below information....

Contact : Mr. SIVAJOTHI GNANATHEEVAM Email: leasingmandate@gmail.com

SIVAJOTHI GNANATHEEVAM
1 month ago

Business News

Business News
Released:  23/01/20182018-01-23
Word count:  399

Libya’s state energy producer National Oil Corp. announced the restart of production at Wintershall AG’s Sara oil fields more than two months after they were closed by protests, in the latest sign that the OPEC nation’s oil industry may be stabilizing.

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Bloomberg
The fields will increase the North African country’s crude output by 57,000 barrels a day, according to an NOC statement on Sunday. Wintershall confirmed that crude output at the fields resumed on Jan. 21, according to an emailed statement from the company on Monday.

The shutdown since November resulted in the loss of 4.4 million barrels of production at a cost to the economy of $281.5 million, NOC said in the statement. The municipality of Jikharra had decided to reopen the area following pressure from NOC and the public prosecution, it said. The fields, located in the Jikharra area, were closed in early November due to protests by people demanding jobs and more local development projects.

Since the 2011 war that ousted former leader Muammar Qaddafi, Libya has been carved up among dozens of militias, with rival administrations in the east and in Tripoli. Infighting since 2014 crippled the production and exports of oil, Libya’s main source of income, devastating the import-dependent economy. Oil output has since been increasing and reached last year its highest level in four years. Output has stabilized at about 1 million barrels a day over the last quarter, hampered only by isolated disputes and shutdowns. Crude Exports

NOC Chairman Mustafa Sanalla said the restart in Jikharra was a setback for a parallel Libyan oil administration based in eastern Libya, which for several years had tried to gain control over the country’s central and eastern oil facilities and export the crude independently. It failed to do so as major international oil companies only recognize the Tripoli-based NOC.

“The perpetrators and others considering using the tactic should remember this is a very serious offense for which there is no statute of limitations,” Sanalla said.

NOC board member Abulgasem Shingheer met with a Wintershall official to discuss resstoring production to normal levels, the NOC said in another statement on its website Monday.

The restoration of Libyan oil despite the country’s divisions has put the spotlight on Sanalla, whose influence has waxed in a country dependent on oil exports. In another sign the sector is stabilizing, Royal Dutch Shell Plc and BP Plc have agreed to annual deals to buy Libyan crude.

Production remains well below the level of 1.6 million barrels a day reached before the revolt in 2011, however, and efforts to increase output and exports are complicated by Libya’s commitment to an OPEC campaign to reduce a global surplus.
Comments:

We are broker firm in London-UK, we have direct Provider of BG/SBLC specifically for Lease and Purchase, The provider is tested and trusted. We have been dealing with the company for the past 6years. Interested Agent/Lessee should contact us for directives.If you have need for corporate loans, international project funding, etc. or if you have a client who requires funding for his project or business we have all available.

For further details contact us with the below information....

Contact : Mr. SIVAJOTHI GNANATHEEVAM Email: leasingmandate@gmail.com

SIVAJOTHI GNANATHEEVAM
1 month ago

Business News

Business News
Released:  22/01/20182018-01-22
Word count:  1533

The UNDP has confirmed that it has installed solar panels for back-up power in 15 different hospitals across Libya as well as one municipality building between 2016 and 2017. It plans to install more in other hospitals and public facilities such as schools and municipal buildings in 2018 – subject to obtaining funding.

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Libya herald
What is UNDP doing in Libya?

As the United Nations global development network advocating for sustainable development and inclusive economic growth, one of our main priorities in Libya is to help the authorities to provide basic services to citizens across the country. The intensification of the conflict since 2014 caused critical infrastructure damage, disrupting basic services such as water, sanitation and electricity supply. We are addressing these issues and at the same time bridging the critical period of transition from humanitarian relief to sustainable development. People need water; however, we are not providing them just with water but with an entire water operating system; People need electricity; however, we are not just providing them with generators but also with a clean alternative, solar energy. In this way, we are responding to the urgent needs of the people and providing a long term and sustainable solution.

Why is UNDP installing solar panels?

Nowadays, many people are aware that renewable energy, specifically solar energy, is an efficient alternative source of power which reduce the carbon footprint and can help a country to insulate from price fluctuations in global energy markets.

UNDP’s goal in Libya is to support the authorities to improve access to basic services through ensuring constant and cost-effective access to electricity, while also mitigating the impact of climate change and advancing multiple Sustainable Development Goals.

We don’t hear that much about Libyan energy sources outside of oil and gas, however there is a strong potential for solar power in Libya. More than 88% of its territory is desert, the country has long hours of sunshine and its proximal to the Tropic of Cancer which ensures great solar radiation. This solar energy solution decreases the public buildings reliance on the devastated national grid ensuring a continuous -and easy to maintain – source of electricity. This off-grid solution is working 24hrs a day connected to the Grid in Emergency cases (Cloudy periods) if needed. The system can be described in two main sub-systems, the production of electricity using solar panels & Energy storage using some high capacity batteries.

If this system is introduced widely in Libya, it can contribute to the reduction of carbon emissions, providing a long term and sustainable solution, while addressing the imperative needs of the people.

Between 2016 and 2017, UNDP provided solar panels to 15 hospitals and one municipality building.

Why in hospitals?

Libya has been witnessing major power disruptions which left many hospitals in the dark literally. Health facilities need power to operate life-saving medical devices. When there is not electricity in clinics, maternity wards, operating rooms, medical warehouses and laboratories, lives are at risk. The primary objective of UNDP’s support to hospitals is lifesaving, which can be achieved introducing clean and environment friendly technology during this critical time for Libya. With the installation of solar systems in health facilities we are providing more patients with access to medical care through a stable, clean and reliable energy supply. Our aim is to help save lives and using solar panels for the health sector is proving to be a very smart choice. Renewable energy is a means by which health systems can increase resilience to the challenges presented by climate change. The installation of solar systems will reduce greenhouse gas emissions and will lower power bills. The saved money could be used to support other health priorities. If we manage to scale up this system to more and more hospitals in Libya, we will be helping to save lives through a sustainable system.

Why is this important now?

During the crises in Libya, UNDP decided to harness this clean energy and install solar energy in health facilities to give power supply continuity in a time that health facilities are facing power interruption during critical surgical operations, as well as heating needs and refrigerating critical medicines. Due to the conflict, now people are facing challenges to access to health services. It is now when they need a swift response and with the solar systems we are providing both a swift and a long-term solution.

What has it been done so far?

The need for support to hospitals came in response to the UN humanitarian assessment of 2016, which showed the disruption of electricity as a major concern in Libya affecting many sectors, including the health sector. We started to install solar system in hospitals in August 2016 and currently, 15 hospitals are benefiting from the solar panel support, four are in Tripoli, four in Benghazi, three in Zintan, two in Ubari, one in Rujban, south-west of Tripoli, and one in Sebha, a city in southern part of Libya. Out of 19 small health centers located in the city, Sebha’s hospital is the main health center which services neighboring towns too. But there are more hospitals and public buildings that need this system. With more funding, we could scale up this programme to provide support to more people.

What you have achieved already?

Patients using these hospitals have now access to uninterrupted health services. The capacity for each hospital is between 15 and 20 KVA and the system is modular and can be upgraded to tens of times of its capacity, if the needed space for the upgrade is available, whether on the roof or on a ground fields. Meanwhile, other system components can be upgraded as well, like the batteries bank and Inverters.

What needs to be done still?

So far, the funding covers 15 hospitals though the needs are much bigger for hospitals to fully function their critical units. If more funding is made available, UNDP Libya hopes to install solar power panels in other hospitals and public facilities such as schools and municipal buildings.

What are the main challenges that UNDP is facing?

We faced some logistical challenges, especially in places like Benghazi, a war-ton city. However, the hospital personnel were very thrilled to have this new energy system. Even though, some of them did not know about it before, they were all very excited about this initiative and they were engaged in the process since the beginning.

How are the solar panels helping the people in Libya?

UNDP has been informed by doctors that power used to go off during surgical procedures and they had to stop the operation until the generator was turned on and this was putting at risk the patient’s life. However, since the solar panel were installed, they are continuing the medical procedures without interruption. They also mentioned that equipment such as ventilators and anesthetic machine that were at risk of damage due to the power cut, are now safe.

For example, during the blackout of power grids in all major cities of Libya, the ICU unit in Abusleem hospital in Tripoli was fully functioning using solar energy. They were using the direct solar power during the day and during the night the system switched to the power stored in the high-capacity batteries, so there was no cut whatsoever.

The system is not only providing them with a sustainable long-term energy solution, but is also helping them financially because the electricity bill will be reduced thanks to the solar grid.

Solar system in health facilities can also help Libya to achieve some of the Sustainable Development Goals such as good health and well-being, affordable and clean energy, climate action and partnership. It can also make a significant contribution to the 2030 Agenda for Sustainable Development and its commitment to ‘leave no one behind.

With more funding, we will scale up this programme to answer critical needs of more people in Libya through a long term and sustainable system.

What are UNDP plans for 2018?

Scaling up the programme all over Libya, the Solar Energy Investment aims at achieving complete coverage of the electricity requirements for 20% of Primary Health Care Health Facilities in Libya and 83% of hospitals for emergency wards, operating theatres, delivery rooms, pharmacies and laboratory services as well as coverage of close to 200 other health facilities such as NCDC branches, dialysis centres, dental clinics, etc. This would greatly improve both the access to and the quality of health services while reducing the operational costs.



SOLAR PANELS INSTALLED BY UNDP IN LIBYA 2016-2017 CERF:

The United Nations Central Emergency Response Fund

Abu-sleem Hospital in Tripoli Tripoli Heart Center in Tripoli Ali Omar Askar Neuro in Tripoli Cordoba Center for Services in Tripoli Sebha Hospital (STABILIZATION FACILITY FOR LIBYA) Benghazi Al-Kwefia Hospital Al Gwarsha clinic in Benghazi Benghazi Dermatology Hospital Kikla Municipality (SUPPORT TO THE RESILIENCE OF LOCAL COMMUNITIES PROJECT) Zintan General Hospital Rujban Hospital Zintan Emergency and Surgery Ubari General Hospital Ubari General Hospital – Dialysis Zintan Obstetrics and Gynecology Hospital

Between 2016 and 2017, under The United Nations Central Emergency Response Fund (CERF) and the Stabilization Facility for Libya (SFL), UNDP installed solar panels in Tripoli at Abu-sleem Hospital, Ali Omar Askar Neuro, Cordoba Center for Services, and Tripoli Heart Center; in Sebha Hospital; in Benghazi at Al-Kwefia Hospital, Al Gwarsha clinic and Dermatology Hospital and in Kikla Municipality.

The solar systems in Zintan General Hospital, Rujban Hospital, Zintan Emergency and Surgery center, Ubari General Hospital, Ubari General Hospital Dialysis department and Zintan Obstetrics and Gynecology Hospital were installed under the umbrella of the National Oil Corporation sustainable development program, funded by Repsol and implemented by UNDP.
Comments:

We are broker firm in London-UK, we have direct Provider of BG/SBLC specifically for Lease and Purchase, The provider is tested and trusted. We have been dealing with the company for the past 6years. Interested Agent/Lessee should contact us for directives.If you have need for corporate loans, international project funding, etc. or if you have a client who requires funding for his project or business we have all available.

For further details contact us with the below information....

Contact : Mr. SIVAJOTHI GNANATHEEVAM Email: leasingmandate@gmail.com

SIVAJOTHI GNANATHEEVAM
1 month ago

We are broker firm in London-UK, we have direct Provider of BG/SBLC specifically for Lease and Purchase, The provider is tested and trusted. We have been dealing with the company for the past 6years. Interested Agent/Lessee should contact us for directives.If you have need for corporate loans, international project funding, etc. or if you have a client who requires funding for his project or business we have all available.

For further details contact us with the below information....

Contact : Mr. SIVAJOTHI GNANATHEEVAM Email: leasingmandate@gmail.com

SIVAJOTHI GNANATHEEVAM
1 month ago

Oil & Gas News

Oil & Gas News
Released:  19/01/20182018-01-19
Word count:  502

LONDON (Reuters) - Global oil markets are tightening quickly on falling supply from Venezuela, which posted 2017’s biggest unplanned output fall and could see a further decline in 2018, the International Energy Agency (IEA) said on Friday.

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Reuters
Debt and infrastructure problems cut Venezuela’s December output to 1.61 million barrels per day (bpd), somewhere near a 30-year low. That helped oil prices top $70 (50.30 pounds) per barrel in early January, their highest level in 3 years.

“The general perception that the market has been tightening is clearly the overriding factor and, within this overall picture, there is mounting concern about Venezuela’s production,” the IEA, which coordinates energy policy in industrialised nations, said in its monthly report.

“Given Venezuela’s astonishing debt and deteriorating oil network, it is possible that declines this year will be even steeper... U.S. financial sanctions are also making it tougher for Venezuela’s oil sector to operate,” the IEA said.

As a result of lower Venezuelan production, the IEA said OPEC’s crude output in December fell to 32.23 million bpd, boosting the group’s compliance with a deal to curb output to 129 percent.

In addition to Venezuela, December saw production problems in the North Sea, which helped cut global December oil supply to 97.7 million bpd, down 405,000 bpd from November.

Commercial stocks in industrialised countries declined for the fourth consecutive month in November and likely fell again in December, the IEA said.

OPEC agreed to lower production in 2017 and has agreed to maintain output cuts for the whole of 2018 to help bring the those stocks down to a 5-year average.

The IEA said that if OPEC and its non-OPEC allies maintained good compliance with the output deal, oil markets would balance in 2018.

“Global crude oil markets saw an exceptionally tight 4Q17,” the IEA said, adding that it saw a combined fall of 1 million bpd during that period on declining stocks in industrialised nations and a fall in Chinese balances. U.S. OVERTAKING SAUDI

The recovery in oil prices and a decline in global oil stocks has been helped by robust global demand growth in 2017 but it will slow down in 2018, the IEA said.

It kept its oil demand growth estimate for 2018 unchanged at 1.3 million bpd, down from 1.6 million bpd in 2017, mainly due to the impact of higher oil prices and changing patterns of oil use in China.

Besides slowing demand, a spectacular rise in U.S. output is expected to keep oil prices under pressure, the IEA said.

The IEA said that rapid U.S. growth and gains in Canada and Brazil will drive up non-OPEC supply by 1.7 million bpd in 2018, versus last year’s 0.7 million bpd increase. Non-OPEC nations will be producing just short of 60 million bpd this year.

“U.S. crude supply will push past 10 million bpd, overtaking Saudi Arabia and rivalling Russia,” the IEA said.

The IEA said short-cycle U.S. production was reacting to rising oil prices and therefore it raised its forecast for U.S. crude oil growth for 2018 to 1.1 million bpd from 870,000 bpd in its previous report.

“This represents, after the downturn in 2016 and the steady recovery in 2017, a return to the heady days of 2013-2015 when U.S.-led growth averaged 1.9 million bpd,” the IEA said.

Reporting by Dmitry Zhdannikov
Comments:

We are broker firm in London-UK, we have direct Provider of BG/SBLC specifically for Lease and Purchase, The provider is tested and trusted. We have been dealing with the company for the past 6years. Interested Agent/Lessee should contact us for directives.If you have need for corporate loans, international project funding, etc. or if you have a client who requires funding for his project or business we have all available.

For further details contact us with the below information....

Contact : Mr. SIVAJOTHI GNANATHEEVAM Email: leasingmandate@gmail.com

SIVAJOTHI GNANATHEEVAM
1 month ago

Contract News

Contract News
Released:  18/01/20182018-01-18
Word count:  118

Eng. Mustafa Sanalla, NOC Chairman of the Board, Dr. Abdelmomen Weld Qadour Chairman and General Manager of Sonatrach Company and Mr. John W. Wallace Chairman and CEO of DeGolyer and MacNaughton (D & M) Company signed the joint reservoir study of Al Wafa Gas Field and Al Rar Gas Field of Algeria on Monday 15 January 2018.

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NOC
In the presence of Mr. Abulgasem Shingheer Member of the Board of Directors for Exploration & Production, Mr. Jaweed Ben Sharif General Manager of Production and Development at Sonatrach in addition to a number of engineers from NOC, Sonatrach and Mellita Oil & Gas.



The study aims at updating the previous study that was conducted in 2008. It comes within the framework of the mutual cooperation between NOC and Sonatrach in terms of the development programs of each party fairly.



It is worth mentioning that Al Wafa Gas Field, operated by Mellita Oil & Gas, started production in 2004. It supplies gas to Al Ruwais Power Plant in Baten Aljabal district and the costal system for providing the power plants with natural gas.
Comments:

Dear Sir/Ma,

We have direct providers for BG/SBLC specifically for Sale/Lease, at leasing price of (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. SIVAJOTHI GNANATHEEVAM Email: leasingmandate@gmail.com

Intermediaries / Consultants / Brokers are welcome to bring their clients and are 100% protected. In complete confidence, we will work together

Regard, Sivajothi

SIVAJOTHI GNANATHEEVAM
1 month ago

Oil & Gas News

Oil & Gas News
Released:  17/01/20182018-01-17
Word count:  292

Libya’s National Oil Corporation (NOC) announce the successful conclusion of arbitration brought against it in front of the ICC Court in Paris by Trasta Energy Limited, a subsidiary of the Emirati Al Ghurair Investment Group (“Trasta”) and the Libyan Emirati Refining Company (LERCO), the company which owns and operates the Ras Lanuf Refinery which is a joint venture between the NOC and Trasta.

Play
Libya herald
Mustafa Sanalla, Chairman of the the NOC said, the “NOC is the trusted guardian of Libyan oil wealth. We will make every effort to defend that wealth. We stress the importance of LERCO re-starting operations in Ras Lanuf Oil Refinery as soon as possible.”

Trasta and Lerco commenced the arbitration proceedings against the NOC in late 2013 and it has taken the two cases’ tribunals over three years to decide on the dispute and issue final rulings. On 5 January 2018, the ICC Tribunal hearing the Lerco/ NOC case dismissed all Lerco damage claims against the NOC which amounted to the total of US$ 812 million. The tribunal awarded NOC compensation for its counterclaims of US$ 116 million plus interest.

This award follows a decision issued last November in the case brought against NOC by Trasta, in which a separate ICC tribunal pronounced that Trasta was not entitled to any of its claims totalling more than US$ 100 million pursuant to the Shareholders Agreement signed between NOC and Trasta. This pronouncement forced Trasta to withdraw all its claims thereafter.

Both these awards constitute victories for NOC against its litigants and reflect the strength of the NOC’s arguments and legal grounds by which NOC refuted the litigants’ claims or reinforced its counterclaims.

NOC potential losses are estimated at more than US$ 10 billion had the Lerco claims been accepted and the contract relationship with Al Ghurair Group continued on the basis as demanded by Lerco for the contract period agreed upon in the FSA.

The “NOC will now take all necessary steps and procedures to ensure the enforcement of the award issued in the Lerco case by the Arbitration Tribunal on 05 January 2018. Trasta and Lerco are requested to fully comply with the implementation of their contractual obligations.”, Sanalla added.
Comments:

Dear Sir/Ma,

We have direct providers for BG/SBLC specifically for Sale/Lease, at leasing price of (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. SIVAJOTHI GNANATHEEVAM Email: leasingmandate@gmail.com

Intermediaries / Consultants / Brokers are welcome to bring their clients and are 100% protected. In complete confidence, we will work together

Regard, Sivajothi

SIVAJOTHI GNANATHEEVAM
1 month ago

Business News

Business News

The Libyan dinar kept its gains over the last week on the prospect of more hard currency being released into the Libyan market starting next week.

Play
Libya herald
The US dollar had been selling at a peak of LD 9.80 towards the end of 2017 and fell sharply to LD 8.25 last week. It lost more value in early trading today, down to LD 8.20.

A Tripoli-based black-market hard currency trader today told Libya Herald, on the basis of anonymity, that ‘‘the dollar has lost value against the dinar because of the expectation that more dollars are going to be available on the market. Therefore, we are expecting demand for the dollar on the black market to fall further’’.

‘‘The Central Bank of Libya (CBL) had already announced last year that it was increasing the annual family dollar allowance from US$ 400 to US$ 500. It is going to start distributing it tomorrow (Monday 15 January). This has gained the dinar more value on the anticipation of more supply on the market. These will add billions onto the market’’, he explained.

Moreover, ‘‘The CBL has approved about 1.5 bn of Letters of Credit, again reducing demand for the dollar, but also the CBL has changed policy by accepting all 100 percent of the payment for LCs by cheque. Previously 30 percent of any LC had to be deposited in cash. Thats quite a difference’’, he added.

‘‘But generally, there is less demand for hard currency anyway. People are running out of cash and money generally in order to buy any hard currency. People may have money in their bank accounts, but the cash-crisis means they cannot access their money to buy dollars even if they wanted to’’.

‘‘Remember, there is a 50 percent surcharge on paying by cheque. That is too steep for many potential dollar buyers. So demand for dollars is falling too’’, the black-market trader explained.

Looking forward the trader went as far as to forecast that ‘‘the dollar would continue to fall in value as the effects of the LCs and the family allowance kick into the market’’.

‘‘I expect the dollar to fall down to as low as LD 7.90 over the coming weeks, if nothing (politically) major (that is negative) happens’’.

But he also admitted that ‘‘politically there is less tension in the air with no obvious incidents to worry the market’’.

It will also be recalled that the CBL had released relatively positive economic news

showing an end to the balance of trade deficit, control over state-sector salaries and a reduction of the overall annual budget deficit for 2017.

Equally, on the political side, there is a general anticipation of what the planned 2018 elections might bring in the coming year.
Comments:

Dear Sir/Ma,

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SIVAJOTHI GNANATHEEVAM
1 month ago

Oil & Gas News

Oil & Gas News
Released:  15/01/20182018-01-15
Word count:  224

SINGAPORE (Reuters) - Brent crude oil prices rose to $70 a barrel on Monday, supported by ongoing output cuts led by OPEC and Russia, and ignoring a rise in U.S. and Canadian drilling activity that points to higher future output in North America.

Play
Reuters
Brent crude futures LCOc1, the international benchmark for oil prices, were at $70 per barrel at 0558 GMT, up 13 cents from their last close.

U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $64.53 a barrel, up 23 cents.

Both benchmarks last week reached levels not seen since December 2014, with Brent touching $70.05 a barrel and WTI reaching as high as $64.77.

ANZ bank said on Monday oil prices had recently risen on data that continued to show the market is tightening.

Oil markets have been well supported by production cuts led by the Organization of the Petroleum Exporting Countries (OPEC) and Russia which are aimed at propping up crude prices.

The cuts started in January last year and are set to last through 2018, and they have coincided with healthy demand growth, pushing up crude prices by more than 13 percent since early December.

But other factors, including political risk, have also supported crude.

“Tighter fundamentals are (the) main driver to the rally in prices, but geopolitical risk and currency moves along with speculative money in tandem have exacerbated the move,” U.S. bank JPMorgan said in a note.

Attracted by tighter supplies and strong consumption, financial investors have raised their net long U.S. crude futures positions, which would profit from higher prices, to a new record, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday.
Comments:

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Intermediaries / Consultants / Brokers are welcome to bring their clients and are 100% protected. In complete confidence, we will work together

Regard, Sivajothi

SIVAJOTHI GNANATHEEVAM
1 month ago

Oil & Gas News

Oil & Gas News
Released:  11/01/20182018-01-11
Word count:  366

SINGAPORE (Reuters) - Oil inched away from three-year highs on Thursday on signs that a 13-percent rally since early December may have run its course, although a surprise drop in U.S. production and lower crude inventories offered prices some support.

Play
Reuters
U.S. West Texas Intermediate (WTI) crude futures were at $63.50 a barrel at 0529 GMT, 7 cents below their last settlement, but still close to a December-2014 high of $63.67 per barrel reached the previous day.

Brent crude futures were at $69.10 a barrel, 10 cents below their last finish, albeit also still close to the previous day’s peak of $69.37 a barrel - the highest level since an intra-day spike in May 2015.

“In Q1, the balance of risk to Brent lies to the downside, with prices overheating, record net-length built into the futures market and fundamentals set to weaken seasonally,” BMI Research said in a note.

The mounting downward pressure on prices is also showing in the physical oil market, where OPEC’s No.2 and No.3 producers, Iran and Iraq, this week cut their supply prices to remain competitive with customers.

Oil markets have so far been generally supported by a production cut led by the Organization of the Petroleum Exporting Countries (OPEC) and Russia that started in January last year and is set to last through 2018.

More immediate price support came overnight from the United States, where crude inventories fell almost 5 million barrels in the week to Jan. 5, to 419.5 million barrels.

That’s slightly below the five-year average of just over 420 million barrels.

U.S. production fell 290,000 barrels per day to 9.5 million bpd, the EIA said, foiling expectations of U.S. output breaking through 10 million bpd. AMPLE FUEL

Despite this, more bearish signals are appearing. Fuel inventories in Asia and the United States remain ample, and in some cases are rising.

U.S. gasoline stocks rose 4.1 million barrels, EIA data showed, more than expected.

In Asia’s oil trading hub Singapore, average refinery profit margins have fallen below $6 per barrel this month, their lowest seasonal level in five years, resulting in lower feedstock crude orders.

With the crude price up by more than 13 percent since early December, some analysts expect a downward price correction following the recent bull-run.

“Markets are getting a bit fatigued, and a healthy correction could be on the cards,” said Stephen Innes, head of trading for Asia/Pacific at futures brokerage Oanda in Singapore.

Reporting by Henning Gloystein; Editing by Richard Pullin and Joseph Radford
Comments:

Dear Sir/Ma,

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Intermediaries / Consultants / Brokers are welcome to bring their clients and are 100% protected. In complete confidence, we will work together

Regard, Sivajothi

SIVAJOTHI GNANATHEEVAM
1 month ago

Oil & Gas News

Oil & Gas News
Released:  10/01/20182018-01-10
Word count:  424

SINGAPORE (Reuters) - Oil prices hit their highest levels since 2014 on Wednesday due to ongoing production cuts led by OPEC as well as healthy demand, although analysts cautioned that markets may be overheating.

Play
Reuters
A broad global market rally, including stocks, has also been fuelling investment into crude oil futures. [MKTS/GLOB]

U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $63.47 a barrel at 0405 GMT - 51 cents, or 0.81 percent, above their last settlement. They marked a December-2014 high of $63.53 a barrel in early trading.

Brent crude futures LCOc1 were at $69.19 a barrel, 37 cents, or 0.54 percent, above their last close. Brent touched $69.29 in late Tuesday trading, its strongest since an intra-day spike in May 2015 and, before that, in December 2014.

“The extension of the OPEC agreement ... and declining inventories are all helping to drive the price higher,” said William O‘Loughlin, investment analyst at Australia’s Rivkin Securities.

In an effort to prop up prices, the Organization of the Petroleum Exporting Countries (OPEC) together with Russia and a group of other producers last November extended an output cut deal that was due to expire in March this year to cover all of 2018.

The cuts, which have mostly targeted Europe and North America, were aimed at reducing a global supply overhang that had dogged oil markets since 2014.

The American Petroleum Institute said late on Tuesday that crude inventories fell by 11.2 million barrels in the week to Jan. 5, to 416.6 million barrels.

Official U.S. Energy Information Administration data is due at 1530 GMT on Wednesday. OVERHEATED?

Amid the general bull-run, which has pushed up crude prices by more than 13 percent since early December, there are indicators of an overheated market.

In the United States, crude oil production C-OUT-T-EIA is expected to break through 10 million barrels per day (bpd) this month, reaching levels only Russia and Saudi Arabia have achieved.

In Asia, the world’s biggest oil consuming region, refiners are suffering from high prices and ample fuel supplies.

“One area of concern, particularly in Asia, is that of (low) refining margins ... This drop in margins could reduce Asian refiners’ demand for incremental crude in the near term and weigh on global prices,” said Sukrit Vijayakar, director of energy consultancy Trifecta.

Average Singapore refinery margins DUB-SIN-REF this week fell below $6 per barrel, their lowest seasonal value in five years, due to high fuel availability but also because the recent rise in feedstock crude prices dented profits.

Asian oil prices are higher than in the rest of the world.

While Brent and WTI are still below $70 per barrel, the average price for Asian crude oil grades has already risen above that level, to $70.62 per barrel, Thomson Reuters Eikon data showed.

Reporting by Henning Gloystein, additional reporting by Roslan Khasawneh; Editing by Joseph Radford
Comments:

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Intermediaries / Consultants / Brokers are welcome to bring their clients and are 100% protected. In complete confidence, we will work together

Regard, Sivajothi

SIVAJOTHI GNANATHEEVAM
1 month ago

Business News

Business News
Released:  09/01/20182018-01-09
Word count:  215

TUNIS (Reuters) - Libya’s National Oil Corp (NOC) said it had won two international arbitration cases over the 220,000 bpd-capacity Ras Lanuf refinery, and called for the refinery to restart as soon as possible.

Play
Reuters
The NOC said in a statement that the arbitration cases, which date to 2013, had been settled in its favor at the International Chamber of Commerce in Paris.

The Ras Lanuf Oil and Gas Processing Company (RASCO), an NOC subsidiary, welcomed the announcement. The rulings “coincide with preparations by the Ras Lanuf company to resume operations in the second half of 2018”, a statement posted on a Facebook page used by the company said.

One of the cases had been brought by the Libyan Emirati Refining Company (LERCO), the owner and operator of the refinery, and was decided on Jan. 5, the NOC said. It said the ruling had awarded the NOC nearly $116 million plus interest.

The second case had been brought by TRASTA, owned by Emirati group Al Ghurair, and a ruling last November forced TRASTA to withdraw its case, the NOC said. LERCO is a joint venture between the NOC and TRASTA.

“From now the NOC will be engaged in taking the necessary measures to implement the final arbitration ruling ... and restart the refinery as soon as possible,” the NOC statement quoted its Chairman Mustafa Sanalla as saying.

“We ask TRASTA and LERCO to comply fully with their contractual obligations.”

Reporting by Ahamad Ghaddar, Aidan Lewis and Ayman al-Warfalli; Editing by Jane Merriman and Alison Williams
Comments:

Dear Sir/Ma,

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Intermediaries / Consultants / Brokers are welcome to bring their clients and are 100% protected. In complete confidence, we will work together

Regard, Sivajothi

SIVAJOTHI GNANATHEEVAM
1 month ago

Oil & Gas News

Oil & Gas News
Released:  08/01/20182018-01-08
Word count:  235

SINGAPORE (Reuters) - Oil prices firmed on Monday on the back of a slight decline in the number of U.S. rigs drilling for new production, with crude holding just below near three-year highs reached last week.

Play
Reuters
U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $61.61 a barrel at 0209 GMT, 17 cents, or 0.3 percent, above their last settlement, and not far off the $62.21 May 2015 high reached last week.

Brent crude futures LCOc1 were at $67.74 a barrel, 12 cents, or 0.2 percent, above their last close. Brent hit $68.27 high last week, the highest since May 2015.

Traders said the gains were due to a slight decline in the number of U.S. rigs drilling for new production, which eased by five in the week to January 5, to 742, according to data from oil services firm Baker Hughes.

Despite this, U.S. production C-OUT-T-EIA is expected to break through 10 million barrels per day (bpd) very soon, largely thanks to soaring output from shale drillers. Only top producers Russia and Saudi Arabia produce more.

Rising U.S. production is the main factor countering production cuts led by the Middle East dominated Organization of the Petroleum Exporting Countries (OPEC) and by Russia, which began in January last year and are set to last through 2018.

Stephen Innes, head of trading for Asia/Pacific at futures brokerage Oanda in Singapore, said “the OPEC vs shale debate will rage” this year, being a key price driving factor.

However, Innes added that Middle East turmoil would remain a key focus for oil markets, which he warned had the potential to “send oil prices rocketing higher”.

Reporting by Henning Gloystein; editing by Richard Pullin
Comments:

Dear Sir/Ma,

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Intermediaries / Consultants / Brokers are welcome to bring their clients and are 100% protected. In complete confidence, we will work together

Regard, Sivajothi

SIVAJOTHI GNANATHEEVAM
1 month ago

Business News

Business News
Released:  05/01/20182018-01-05
Word count:  399

SINGAPORE (Reuters) - Oil prices fell on Friday, dropping away from highs last seen in 2015, as soaring production in the United States undermined the 10 percent rally from lows hit in December that was driven by tightening supply and political tensions in OPEC member Iran.

Play
Reuters
U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $61.92 a barrel at 0313 GMT, 9 cents below their last close though still near to the $62.21 high reached the previous day that was the most since May 2015.

Brent crude futures LCOc1 were at $67.96 a barrel, 11 cents below their last settlement, but still not far off the $68.27 high from the day before, also the highest since May 2015.

Traders said political tensions in Iran, third-largest producer in the Organization of the Petroleum Exporting Countries (OPEC), had pushed prices higher.

“The protests in Iran add more fuel to the already bullish oil market mood,” said Norbert Ruecker, head of commodity research at Swiss bank Julius Baer.

Oil prices have received general support by production cuts led by OPEC and by Russia, which started in January last year and are set to last through 2018, as well as by strong economic growth and financial markets. [MKTS/GLOB]

This has helped tighten markets. U.S. commercial crude inventories C-STK-T-EIA fell by 7.4 million barrels in the week to Dec. 29, to 424.46 million barrels, according to data from the Energy Information Administration (EIA).

That is down 20 percent from their historic peaks last March and close to the five-year average of 420 million barrels. CAN THE BULL-RUN LAST?

Yet given Iran’s oil production has not been affected by the unrest, and that U.S. production C-OUT-T-EIA will likely break through 10 million barrels per day (bpd) soon, a level so far only reached by Saudi Arabia and Russia, doubts are emerging whether the bull-run can last.

“Prices above $60 per barrel project an overly rosy picture, so we see near-term downside,” Ruecker warned.

“Oil production disruptions (in Iran) remain a very distant threat ... Disruptions in the North Sea have been removed with the Forties Pipeline system having resumed full operations. U.S. oil production surpassed the 2015 highs in October and is set to climb to historic highs this year,” he said.

Lukman Otunuga, analyst at futures brokerage FXTM, struck a similarly cautious tone.

“Oil started the New Year on an incredibly bullish note ... in part due to ongoing tensions in Iran ... (and) over OPEC’s supply cut rebalancing the markets,” he said.

“While the current momentum suggests that further upside is on the cards, it must be kept in mind that U.S. shale remains a threat to higher oil prices.”

Reporting by Henning Gloystein; Editing by Richard Pullin and Christian Schmollinger
Comments:

Dear Sir/Ma,

We have direct providers for BG/SBLC specifically for Sale/Lease, at leasing price of (0.5 + X)% of face value, Issuance by HSBC London/Hong Kong or any other AA rated Bank in Europe, Middle East or USA.

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Intermediaries / Consultants / Brokers are welcome to bring their clients and are 100% protected. In complete confidence, we will work together

Regard, Sivajothi

SIVAJOTHI GNANATHEEVAM
1 month ago

Business News

Business News
Released:  04/01/20182018-01-04
Word count:  296

SINGAPORE (Reuters) - Oil prices on Thursday hit fresh two-and-a-half year highs and were at levels last seen at the start of the commodity slump in 2014/2015, with markets tightening amid tensions in Iran and due to ongoing OPEC-led production cuts.

Play
Reuters
Prices were also buoyed by Asia’s stock markets, which flirted with 10-year highs on Thursday amid strong data from leading economies including the United States, Japan and Germany.

U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $62.10 a barrel at 0445 GMT, up 47 cents, or 0.8 percent, from their last close. They hit $62.14 shortly before, the highest level since May 2015.

Brent crude futures LCOc1 - the international benchmark for oil prices - were at $68.13 a barrel, up 29 cents, or 0.4 percent, after hitting a May-2015 high of $68.16 shortly before.

Beyond a brief intraday spike in May, 2015, these were the highest crude price levels since December, 2014, at the start of the oil price downturn.

Freezing weather in the United States has also spurred short-term demand, especially for heating oil.

“The market is clearly getting more bullish on oil as inventory levels get closer to the five-year average. Geopolitical uncertainty in Iran, OPEC’s third largest producer, is also helping to support the price as citizens are again protesting the government,” said by William O‘Loughlin, investment analyst at Australia’ Rivkin Securities.

Iran’s elite Revolutionary Guards have deployed forces to three provinces to put down anti-government unrest that has been ongoing for a week, their commander said on Wednesday.

In the United States, crude oil inventories fell by 5 million barrels in the week to Dec. 29 to 427.8 million barrels, industry group the American Petroleum Institute said on Wednesday.

Potentially undermining the trend towards tighter market conditions is U.S. oil production C-OUT-T-EIA, which has risen by almost 16 percent since mid-2016, hitting 9.75 million barrels per day (bpd) at the end of last year.

Official U.S. Energy Information Administration (EIA) storage and production data is due on Thursday.

Reporting by Henning Gloystein; Editing by Joseph Radford and Kenneth Maxwell
Comments:

Dear Sir/Ma,

We have direct providers for BG/SBLC specifically for Sale/Lease, at leasing price of (0.5 + X)% of face value, Issuance by HSBC London/Hong Kong or any other AA rated Bank in Europe, Middle East or USA.

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Intermediaries / Consultants / Brokers are welcome to bring their clients and are 100% protected. In complete confidence, we will work together

Regard, Sivajothi

SIVAJOTHI GNANATHEEVAM
1 month ago

Oil & Gas News

Oil & Gas News
Released:  03/01/20182018-01-03
Word count:  368

SINGAPORE (Reuters) - Oil prices were stable on Wednesday, not far off mid-2015 highs reached the previous session, as strong demand and ongoing efforts led by OPEC and Russia to curb production tightened the market.

Play
Reuters
U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $60.40 a barrel at 0141 GMT, up 3 cents from their last close, and not far off the $60.74 June 2015 high reached the previous day.

Brent crude futures LCOc1 - the international benchmark for oil prices - were at $66.55 a barrel, down 2 cents but still not far off the $67.29 May 2015 high from the previous day.

Despite this, there were indicators that markets had overshot in the last days of 2017 and trading this year, as U.S. production is set to rise further and doubts are emerging about whether demand growth can continue at current levels.

Ole Hansen, head of commodity strategy at Denmark’s Saxo Bank warned that ”multiple but temporary supply disruptions“ like the North Sea Forties and Libyan pipeline outages (and) protests across Iran ... helped create a record speculative long bet.”

With the pipeline outages resolved and the protests in Iran showing no signs of impacting its oil production, Hansen said there was potential for a price downturn in early 2018, especially due to rising U.S. output.

“It is only a matter of time before the 10 million barrel per day (bpd) production target will be reached,” Hansen said.

U.S. oil production C-OUT-T-EIA has risen by almost 16 percent since mid-2016, hitting 9.75 million bpd at the end of last year.

There was also some concern that output by Russia, the world’s biggest oil producer and one of the key drivers together with the Organization of the Petroleum Exporting Countries (OPEC) in cutting supplies, was in fact not falling.

As part of the supply cut deal, Russia pledged to reduce its output by 300,000 bpd from the 30-year monthly high of 11.247 million bpd hit in October 2016, which it achieved by the second quarter of 2017, according to Russian energy ministry data.

For the whole of 2017, however, Russian output rose to an average output of 10.98 million bpd, compared with 10.96 million bpd in 2016 and 10.72 million bpd in 2015.

“We also have some concerns about the Chinese economy in 2018 that ultimately could lead to lower than expected demand growth,” Hansen said.

“By year-end we see Brent crude at $60 per barrel with WTI three dollars lower at $57 per barrel.”

Reporting by Henning Gloystein; editing by Richard Pullin
Comments:

Dear Sir/Ma,

We have direct providers for BG/SBLC specifically for Sale/Lease, at leasing price of (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.

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Intermediaries / Consultants / Brokers are welcome to bring their clients and are 100% protected. In complete confidence, we will work together

Regard, Sivajothi

SIVAJOTHI GNANATHEEVAM
1 month ago

We are direct providers of fresh cut bg, sblc, mtn, bonds and cds which we have specifically for lease. we do not have any broker chain in this offer or get involved in chauffer driven offers. you are at liberty to engage our leased instruments into trade programs as well as in other project(s) such as aviation, agriculture, petroleum, telecommunication, construction of dams, bridges and any other project(s) etc you can use these bank instruments for private placement platforms, commercial loan, business loans, credit lines and much more.

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Contact : Mr. SIVAJOTHI GNANATHEEVAM Email: leasingmandate@gmail.com

SIVAJOTHI GNANATHEEVAM
1 month ago

Oil & Gas News

Oil & Gas News
Released:  02/01/20182018-01-02
Word count:  382

SINGAPORE (Reuters) - Oil prices posted their strongest opening to a year since 2014 on Tuesday, with crude rising to mid-2015 highs amid large anti-government rallies in Iran and ongoing supply cuts led by OPEC and Russia.

Play
Reuters
U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $60.61 a barrel at 0423 GMT, up 19 cents, or 0.3 percent, after hitting $60.73 earlier in the day, ther highest since June 2015.

Brent crude futures LCOc1, the international benchmark, were at $67.12 a barrel, up 25 cents, or 0.4 percent, after hitting a May 2015 high of $67.27 a barrel earlier in the day.

It was the first time since January 2014 that the two crude oil benchmarks opened the year above $60 per barrel.

“Growing unrest in Iran set the table for a bullish start to 2018,” the U.S.-based Schork Report said in a note to clients on Tuesday.

Anti-government protesters demonstrated in Iran on Sunday in defiance of a warning by authorities of a crackdown, extending for a fourth day one of the most audacious challenges to the clerical leadership since pro-reform unrest in 2009.

Even without the unrest in Iran, which is a major oil exporter, market sentiment was bullish.

“Falling inventories globally and strong economic growth offset the restart of the Forties pipeline and the resumption of production following a pipeline outage in Libya,” said Jeffrey Halley, senior market analyst at futures brokerage Oanda in Singapore.

The 450,000 barrels per day (bpd) capacity Forties pipeline system in the North Sea returned to full operations on Dec. 30 after an unplanned shutdown.

Oil markets have been supported by a year of production cuts led by the Middle East-dominated Organization of the Petroleum Exporting Countries (OPEC) and Russia. The cuts started in January 2017 and are scheduled to cover all of 2018.

U.S. commercial crude oil inventories have fallen by almost 20 percent from their historic highs last March, to 431.9 million barrels.

Strong demand growth, especially from China, has also been supporting crude.

“We would not be surprised to see a further (oil price) rise,” said Sukrit Vijayakar, director of energy consultancy Trifecta.

Only rising U.S. production, which is on the verge of breaking through 10 million bpd, is somewhat hampering the outlook into 2018.

“The higher prices are expected to stoke U.S. shale output,” O‘Loughlin said.

U.S. oil production C-OUT-T-EIA has risen by almost 16 percent since mid-2016, to 9.75 million bpd at the end of last year.

However, consultancy Rystad Energy said “U.S. crude oil production capacity has reached 10 million barrels per day.”

Reporting by Henning Gloystein; editing by Richard Pullin
Comments:

We are direct providers of fresh cut bg, sblc, mtn, bonds and cds which we have specifically for lease. we do not have any broker chain in this offer or get involved in chauffer driven offers. you are at liberty to engage our leased instruments into trade programs as well as in other project(s) such as aviation, agriculture, petroleum, telecommunication, construction of dams, bridges and any other project(s) etc you can use these bank instruments for private placement platforms, commercial loan, business loans, credit lines and much more.

For further details contact us with the below information....

Contact : Mr. SIVAJOTHI GNANATHEEVAM Email: leasingmandate@gmail.com

SIVAJOTHI GNANATHEEVAM
1 month ago

News Releases

News Releases
Released:  01/01/20182018-01-01

LibyaBusiness.tv team hopes you have a happy new year.

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LBTV Team
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Comments:

We are direct providers of fresh cut bg, sblc, mtn, bonds and cds which we have specifically for lease. we do not have any broker chain in this offer or get involved in chauffer driven offers. you are at liberty to engage our leased instruments into trade programs as well as in other project(s) such as aviation, agriculture, petroleum, telecommunication, construction of dams, bridges and any other project(s) etc you can use these bank instruments for private placement platforms, commercial loan, business loans, credit lines and much more.

For further details contact us with the below information....

Contact : Mr. SIVAJOTHI GNANATHEEVAM Email: leasingmandate@gmail.com

SIVAJOTHI GNANATHEEVAM
1 month ago

Oil & Gas News

Oil & Gas News
Released:  29/12/20172017-12-29
Word count:  415

SINGAPORE (Reuters) - U.S. oil prices hit their highest levels since mid-2015 on the final trading day of the year as an unexpected fall in American production and a fall in commercial crude inventories stoked buying.

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Reuters
In international markets, Brent crude oil futures also rose, supported by ongoing supply cuts by top producers OPEC and Russia as well as strong demand from China.

U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $60.30 a barrel at 0504 GMT, up 46 cents or 0.8 percent from their last close, the highest since June 2015.

Brent crude futures LCOc1 - the international benchmark - were also up, rising 45 cents or 0.7 percent to $66.61 a barrel. Brent broke through $67 earlier this week for the first time since May 2015.

Since the start of the year, Brent and WTI have risen by 17 and 12 percent, respectively, although the price rises from mid-2017 are much stronger, at nearly 50 percent.

Friday’s WTI price rises were driven by a surprise drop in U.S. oil production C-OUT-T-EIA, which last week dipped to 9.754 million barrels per day (bpd), down from 9.789 million bpd the previous week, according to data from the Energy Information Administration (EIA) released late on Thursday.

U.S. output is still up by almost 16 percent since mid-2016, but most analysts had expected production to break through 10 million bpd by the end of this year - a level only surpassed by top exporter Saudi Arabia and top producer Russia.

WTI prices were further boosted by a fall in U.S. commercial crude storage levels, which dropped by 4.6 million barrels in the week to Dec. 22 to 431.9 million barrels, according to the EIA.

Inventories are now down by almost 20 percent from their historic highs last March, and well below this time last year or in 2015. A YEAR OF CUTS

In international markets, China has issued crude oil import quotas totalling 121.32 million tonnes for 44 companies in its first batch of allowances for 2018.

Based on total expected quotas, China’s imports - which at around 8.5 million bpd are already the world’s biggest - are expected to hit another record in 2018 as new refining capacity is brought online and Beijing allows more independent refiners to import crude.

On the supply side, Brent prices have been supported by a year of production cuts led by the Organization of the Petroleum Exporting Countries (OPEC) and Russia. The cuts started last January and are scheduled to cover all of 2018.

Pipeline outages in Libya and the North Sea have also been supporting oil prices, although both these disruptions are expected to be resolved by early January.

Consultancy JBC Energy said the Libyan pipeline outages had “no major impact on exports”.



Reporting by Henning Gloystein; Editing by Kenneth Maxwell and Richard Pullin
Comments:

We are direct providers of fresh cut bg, sblc, mtn, bonds and cds which we have specifically for lease. we do not have any broker chain in this offer or get involved in chauffer driven offers. you are at liberty to engage our leased instruments into trade programs as well as in other project(s) such as aviation, agriculture, petroleum, telecommunication, construction of dams, bridges and any other project(s) etc you can use these bank instruments for private placement platforms, commercial loan, business loans, credit lines and much more.

For further details contact us with the below information....

Contact : Mr. SIVAJOTHI GNANATHEEVAM Email: leasingmandate@gmail.com

SIVAJOTHI GNANATHEEVAM
1 month ago

Business News

Business News

The Main Tender Committee of the Arabian Gulf Oil Company desires to release the following project: -

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NOC

 

 

 

No.

MTC No.

Projects Title

Booklet price

1

MTC-17/2017

Construction of field accommodation blocks at Hamada Field

1000L.D

 

Description:

 

The bidder/contractor shall be responsible for the complete design, construction works including labour, equipment and material supply, according to AGOCO procedure in ‘Turnkey’ basis

Scope of work

This project includes design, procurement, construction, furniture, fixtures and equipment, ready for use.

Construction of three (3) buildings

With one storey and reinforced concrete structure.

For each building: size 49.40m*15.20m and 3.0 highest, to accommodate the following partitions:

  • 20 single bed rooms with kitchenette
  • 20 in-suite bathroom
  • 1 storage room
  • 1 mechanical room
  • 1 electrical room office

Under ground and overhead water tank, septic tank and building access walkway

 Bidding procedure:

 

All specialized companies which have the true desire to participate in this tender, and have the efficiency, ability, previous experience and specialized in the above mentioned field, please be informed that tender documents shall be withdrawn during the period from: (Day: Tuesday, Corres. To: 12/12/2017 A.D to Day: Tuesday, Corres. To: 26/12/2017 A.D), (from: 12:00 P.M   to: 14:00 P.M) through a direct delivery to their representatives who have to fill a form on the date of delivery, upon an amount of money of one thousand (1000) L.D paid through non-refundable certified cheque issued by one of the working Libyan banks, for the benefit of the Arabian Gulf Oil company.

 

  • Prepare and submit by post or a direct delivery the below listed documents (Requirements) to the Main Tender Committee (MTC) of AGOCO.           

Bidding Requirements(Provided by all applicants)

                     

  1. A copy of work license. (Valid)
  2. A copy of a recent Commercial Record Extract. (Valid)
  3. A copy of record certificate of the Chamber of Commerce. (Valid) and financial file
  4. A proof of tax payment. (Valid).
  5. A copy of the decree of formation.
  6. A copy of the basic structure.
  7. A copy of a partnership agreement (if any)- if the company had incorporated or joined another legal person - certified by the local competent authorities or by those at the state headquarters-If the other party in the partnership agreement is a foreigner and approved by the Libyan embassy at the State Headquarters.
  8. Work permission from the competent ministry for the foreign companies.
  9. The applicant’s qualification and previous experience, supported with documents of the related field, including copies of the handing –over minutes of projects executed for the interested bodies.
  10. The participant, if accepted, shall facilitate the field visit procedures to his company’s headquarter for the Arabian Gulf Oil company representatives who authorized to examine all his available material and human capabilities.

Offers Submission:

 The Tender should be submitted through a direct delivery or by courier in (4) separated envelopes, closed with red sealing wax and with the stamp of the bidder, writing clearly the name of the project, the bid number and the name of the participating Body on each envelope.

 

  1. The first envelope should include a priced financial proposal (original + 1 copy)
  2. The second envelope should contain an un-priced financial proposal without price (original + 1 copy) (do not mention the price); otherwise, it will be rejected and has to contain the required financial conditions and the required method of payment, with the necessity to agree on all AGOCO general terms and conditions.
  3. The third envelope includes a technical proposal (original + 3 copies). As well as the validity of the proposal shall be three months at least from the closing date stated in this announcement. (Plus an electronic copy of the technical proposal ONLY).
  4. The forth should contain a Bid Bond (a preliminarily guarantee in separate closed envelope).

The Contractor shall be at his own expense obtain and maintain for the Company a bid Bond in an amount equal 0.5% of the submitted proposal value Such Bond shall be established as an irrevocable, Certified cheque or unconditional and confirmed Letter of Guarantee or Stand-by Letter of Credit through a First Class Libyan bank or through a First Class European Bank confirmed and advised to the Company through Libyan Foreign Bank (LFB)-Tripoli, or through British Arab Commercial Bank (BACB)-London. (Bid bond is automatically revalidated). Bid Bond should be valid for at least 60 days after offer dead-end.

Note:

  • The Bid Bond is rewind to those who were not successful in the tender.

The successful bidder has to secure a performance guarantee of 10 % which is payable for a year from provisional certificate of completion issue date; and within 30 days from formal success notification.

The proposals shall be submitted during the official working hours to the main Tender Committee at the Arabian Gulf Oil company Headquarter- Alkeish- Benghazi- B.O. box 263 the dead line is: (Time: 14:00 P.M Day Tuesday, corresponding to: 23/01/2018 A.D)

  

Any proposal not complying with the above mentioned procedures shall not be accepted, i.e. any offer which does not comply with such tender, or not clearly reflects the ability of the bidder to execute the work in a required precision, shall be ignored, and the lower prices shall not be the only standard for winning the bid.

 

The Arabian Gulf Oil Company has the right to cancel the tender without stating the causes, as well as the Arabian Gulf Oil Company shall not bear any expenses incurred by the participant after the tender cancellation, taking into account that all offers and the attached document submitted by the participant in this tender will be owned by the Arabian Gulf Oil Company, 

 

For any inquiries, please, contact the main tender committee secretariat on the following address:

The Main Tender Committee–Office No. (4)-New building- The    Company's main headquarter - Alkiesh- Benghazi – Libya - P.O.box:263

Fax No.:218-61-2229006

Tel. No.: 218-061—2228931-44 –Ext.: 3883

Email address: mtc@agoco.ly

 

Note: All correspondence shall be addressed to the chairman of The Main Tender Committee of the Arabian Gulf Oil Company. 

Comments:

We are broker firm in London-UK, we have direct Provider of BG/SBLC specifically for Lease and Purchase, The provider is tested and trusted. We have been dealing with the company for the past 6years. Interested Agent/Lessee should contact us for directives.If you have need for corporate loans, international project funding, etc. or if you have a client who requires funding for his project or business we have all available.

For further details contact us with the below information....

Contact : Mr. SIVAJOTHI GNANATHEEVAM Email: leasingmandate@gmail.com

SIVAJOTHI GNANATHEEVAM
1 month ago
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