Libyan Oil Revenues Fall to Zero as Ports Blocked
Libya's vital oil revenues fell to zero in January, the central bank said on Monday, after forces and tribesmen allied to eastern commander Khalifa Haftar blocked major oil ports.Haftar is embroiled in a conflict with the internationally recognized government in Tripoli and has been trying to seize the capital by force since April.Tribesmen and forces loyal to him closed all eastern ports and major fields last month in a power play, part of chaos in Libya since the overthrow of Muammar Gaddafi in 2011.The oil shutdown has caused losses exceeding 2.5 billion Libyan dinar ($1.78 billion)…
NOC Condemns Calls for Oil Export Terminals to be Shut
Libya's state oil firm NOC on Friday condemned calls to shut oil export terminals in eastern Libya controlled by military commander Khalifa Haftar ahead of a summit in Germany where he will face pressure to halt his campaign to take the capital.Tribal leaders in eastern and southern Libya called on Thursday to shut the terminals in protest at what they called the internationally-recognized government in Tripoli's use of oil revenues to pay for foreign fighters.Eastern Libya and part of the south of the country is controlled by the Libya National Army (LNA) of Haftar…
Shell Aims to Operate Egypt Concessions in 2020
Royal Dutch Shell is aiming to start operating in its concession areas in Egypt in the second half of 2020, a senior executive said.Shell won three oil and two gas concessions in Egypt in February.Eni, BP and ExxonMobil also won some of a total of 12 tenders as Egypt looks to sustain an investment upswing spurred by major discoveries.Shell has also applied to take part in a bidding round in Egypt for oil and gas drilling in the Red Sea, Gerald Schotman, executive vice president upstream JVs at Shell, told Reuters.The company would be also interested in any bidding for oil and gas drilling in the Mediterranean Sea should it open as Shell wanted to expand in Egypt…
Libyan Oil Ports Es Sider, Brega Closed, Production Unaffected -NOC
The eastern Libyan oil ports of Es Sider and Brega have been closed due to bad weather but crude production has not been affected, an official from state oil firm NOC said.Storage capacity is sufficient for a few days and the remaining ports were open, the official said.Tankers were waiting to dock at Es Sider and Brega, port sources said.A shipper's note and a port engineer said the other eastern Libyan ports were also closed.A similar closure this month led to a temporary reduction in production by Waha Oil Co as storage capacity at Es Sider was limited after some tanks were damaged during clashes last year.
NOC Declares Force Majeure on Biggest Oilfield
Libya's National Oil Company (NOC) on Monday declared force majeure on exports from the El Sharara oilfield, which was seized at the weekend by a local militia group.NOC said the shutdown would result in a production loss of 315,000 barrels per day (bpd) at its biggest oilfield, and an additional loss of 73,000 bpd at the El Feel oilfield.Production at the Zawiya refinery was also at risk due to its dependence on crude oil supply from Sharara, NOC said in a statement, adding that it was "reviewing" evacuation plans.Chairman Mustafa Sanalla NOC would not negotiate with the militia group. "We will not pay a penny to anyone who closed the field ...
Sonatrach Awards Gas Contract to Petrofac
Algerian state energy firm Sonatrach awarded a contract worth 60 billion dinars ($506 million) on Tuesday to Britain's Petrofac to boost gas output at the Tinhert field by 4.7 million cubic metre per day, Sonatrach's CEO said.The value was about $100 million less than originally announced. Sonatrach CEO Abdelmoumen Ould Kaddour said the difference in value was because part of the work, worth 10 billion dinars, had been awarded to Algeria's GCB.The project in the Illizi region was expected to come online in 36 months, he told reporters.($1 = 118.5060 Algerian dinars)(Reporting by Lamine Chikhi Editing by Ulf Laessing and Edmund Blair)
Sonatrach Awards LPG Train Contract to Tecnimont
Algeria's Sonatrach on Monday signed a contract worth $248.5 million with Italy's Maire Tecnimont Spa to build a fourth liquefied petroleum gas (LPG) train at the Hassi Messaoud gas field, Sonatrach's chief executive said.The Italian firm had announced a preliminary deal in September, a spokesperson for Maire Tecnimont said.The train will have a capacity of 8 million cubic metres per day, Sonatrach CEO Abdelmoumen Ould Kaddour told reporters, adding that the project was expected to come on line in 30 months.(Reporting by Lamine Chikhi; editing by Ulf Laessing, Jason Neely and Jan Harvey)
Hariga Oil Port Operating Normally Following Protest
Libya's eastern oil export port of Hariga on Friday was working normally a day after a protest there, port workers said.Late on Thursday, tribesmen staged a demonstration at the port’s gate in protest against the appointment of a government minister, a tribe leader told Reuters.The port, which is linked to the Sarir oilfield, has been hit by closures in the past caused by protests such as guards complaining about delays in receiving their pay.(Reporting by Ayman al-Warfalli, writing by Ulf Laessing; editing by Jason Neely)
Algeria Hopes to Have Energy Law Ready by 2019 - Sonatrach CEO
Algeria wants to have a new energy law ready by the first half of 2019 and might use Mexico's legislation as inspiration, the CEO of state energy firm Sonatrach said on Tuesday.The North African OPEC member has been preparing changes to its hydrocarbon law in a bid to attract foreign investors that have stayed away in recent years, citing bureaucracy and tough terms."A good model of an energy law is Mexico's as it allowed them to attract $300 billion in investment ... definitely this is a good model and I will be very happy to have such a law," Abdelmoumen Ould Kaddour said during a visit to the Hassi Rmel gas field."We will be ready by the first half of 2019…
Morocco Preparing Tender for $4.5 bln LNG Project
Morocco is preparing to invite bids for a liquefied natural gas (LNG) project in Jorf Lasfar worth $4.5 billion, Energy Minister Aziz Rabbah said on Monday.Speaking on the sidelines of an energy conference in Marrakesh, he declined to give details.Last year, Moroccan state-owned power utility ONEE said it had picked HSBC Middle East Ltd as financial adviser for its plan to boost imports of LNG.The project includes the import of up to 7 billion cubic metres of gas by 2025, and the construction of a jetty, terminal, pipelines and gas-fired power plants, officials have said.Morocco, a net energy importer, aims to diversify fuel supplies and reduce its dependence on foreign oil and coa
Gunmen Attack Headquarters of Libya's State Oil Firm
Several armed men attacked the headquarters of Libya's National Oil Corporation (NOC) in the capital Tripoli on Monday, killing at least two oil staff, a security official said.In the first attack of its kind against the top managers of Libya's state oil industry, two of the gunmen were also killed and at least 10 NOC staff wounded, officials said.Security forces said they had regained control of the landmark glass-fronted building in the centre of the city.The attack came less than a week after a fragile truce halted fierce clashes between rival armed groups in Tripoli…
Sonatrach Signs Gas Exploration Deal with Total, Repsol
Algeria's Sonatrach on Monday signed an exploration and development contract with France's Total and Spain's Repsol for the Tin Foye Tabankort gas field in block 238, the state energy firm said.The three firms will invest $324 million to keep output at 3 billion cubic metres of gas per year for the next six years, Sonatrach executives told reporters.They will also develop additional reserves at the field estimated at more than 250 million barrels of oil equivalent.Sonatrach owns 51 percent of the field, Total 26.4 percent and Repsol 22.6 percent, they said.(Reporting by Lamine Chikhi; editing by Ulf Laessing and Jason Neely)
Sound Energy to Build Pipeline to Commercialize Moroccan Gas
Britain's Sound Energy has signed a heads of terms agreement with a consortium to build a 20 inch gas pipeline and a processing plant to commercialize its discoveries in Eastern Morocco, it said.The consortium comprising Spain's Enagas, Elecnor and Fomento has been awarded the deal under a build-own-operate-transfer (BOOT) structure, the Morocco-focused company said."The Consortium will finalise plans to secure access to some $184 million of development capital that will be required to fund the project," it said in a statement.Reporting by Ahmed Eljechtimi Editing by Ulf Laessing
Algeria Hires U.S. Law Firm Curtis for New Energy Law
Algeria has hired U.S. law firm Curtis, Mallet-Prevost, Colt & Mosle LLP and other consultancies to help with a new energy law aimed at attracting much-needed investment, the CEO of state energy firm Sonatrach said on Monday.The OPEC producer, which is also a major gas supplier to Europe, has been trying to attract more foreign investors but firms have been reluctant complaining about bureaucracy and tough terms.The North African has been working on a new law but it was still unclear when it would be ready as many players were involved, Sonatrach CEO Abdelmoumen Ould Kaddour told reporters.Debate over reforms…
Libya's NOC to Stage Oil and Gas Conference in Benghazi
Libya's state oil company National Oil Corp (NOC) will hold a conference in the eastern city of Benghazi in October to discuss the country's oil and gas sector, it said on Thursday. Domestic and foreign oil companies would participate to discuss the sector's development, NOC said in a statement on its website without naming any companies involved. The event will take place Oct. 9-11. Security has improved in Benghazi since forces allied to the eastern-based government declared victory over Islamist fighters last year, though two suicide bombings struck the port city recently. Reporting by Aidan Lewis and Ahmed Elumami Writing by Ulf Laessing
Exxon Mobile Interested in Working in Algeria, Sonatrach CEO says
U.S. oil major Exxon Mobil Corp has shown an interest in working in Algeria, the head of state energy firm Sonatrach said on Tuesday. "It is important to highlight that a big major Exxon Mobil has shown an interest to come to Algeria," Abdelmoumen Ould Kaddour told reporters, without giving further details. He also said he had resolved 80 percent of the state firm's disputes with foreign firms, while Sonatrach had been able to fulfil gas supply contracts with Europe this winter despite rising domestic demand. Kaddour, a U.S.-trained engineer, who took office last year to overhaul Sonatrach plagued by contract disputes with foreign firms…
Tunisia to invest $5B in Dnergy Projects
Tunisia will invest 12 billion dinars ($5 billion) in electricity and other energy projects from 2018 to 2020, a government statement said on Thursday. The government also said it was planning a new airport close to the capital. The energy projects include a 600 megawatt-underwater power cable to link Tunisia's power grid with Italy's, Energy Minister Khaled Kaddour said in a statement. The 200-km (125-mile) line would cost 600 million euros, he said. The North African country would also build two power plants with a capacity of 450 megawatts (MW) each, the statement said.
Algeria Energy Minister Says Oil Producers Seek Market Stability
Algerian Energy Minister Mustapha Guitouni said on Tuesday that oil producers are seeking market stability and would meet in Riyadh in April to discuss ongoing efforts to curb output to support prices. "We seek stability. The question is not only about the price but about a balance between producers and consumers," Guitouni told reporters during a visit to Tunis. "There will be a meeting in Riyadh in April. We will discuss policy, we need a joint position to know what we can do," he said. (Reporting by Tarek Amara and Ulf Laessing; editing by Jason Neely)
Sonatrach Eyes More Vessels to Boost Asia Gas Sales
Algeria will acquire more vessels to transport gas to Asia as it eyes increased sales in that region, the chief executive of state energy firm Sonatrach said on Monday. "With Russia and the U.S., gas competition is tough," Abdelmoumen Ould Kaddour told reporters during a visit to the Hassi Messaoud oilfield. He gave no details. Kaddour also said Sonatrach's oil drilling in Algeria's southern neighbour Niger, where a Sonatrach unit was awarded a production-sharing deal in 2015, had been "satisfying" so far. Oil was found in the Kafra region, some 80 km (50 miles) from the Algerian border, he said.
Terrorists Likely Responsible for Libya Pipeline Blast
A "terrorist group" is probably responsible for the explosion on a Libyan crude pipeline on Tuesday, a spokesman for an eastern Libyan petroleum protection force said on Wednesday. The fire at the pipeline had been brought under control, Miftah Magariaf, from the force tasked with guarding oilfields in eastern Libya, told Reuters. (Reporting by Ayman al-Warfalli; Writing by Ulf Laessing; Editing by Adrian Croft)
