Business News Libya

  • *Saudi Arabia crude stocks: https://tmsnrt.rs/31saE7g. LONDON, Sept 16- The strike on the heartland of Saudi Arabia's oil industry, including damage to the world's biggest petroleum-processing facility, has driven oil prices to their highest level in nearly four months. Before the attack, the Organization of the Petroleum Exporting Countries global supply...

  • *IEA, OPEC chiefs discuss oil market. *UAE says it's still early for emergency OPEC meeting. DUBAI/ LONDON, Sept 16- OPEC is assessing the impact on the oil market from attacks on Saudi Arabian facilities and says it is too early for members to take any action on raising output or holding a meeting, the UAE energy minister and other sources said.

  • LONDON, Sept 16- The strike on the heartland of Saudi Arabia's oil industry, including damage to the world's biggest petroleum-processing facility, has driven oil prices to their highest level in nearly four months. Before the attack, the Organization of the Petroleum Exporting Countries global supply cushion was just over 3.21 million barrels per day,...

  • Yemen's Iran- aligned Houthis claimed responsibility for the attack that knocked out about 5 million barrels or 5% of global production, but U.S. The Strategic Petroleum Reserve, managed by the Energy Department, is held in heavily-guarded underground caverns on the Texas and Louisiana coasts. Washington in the past has participated in coordinated...

  • Saudi Arabia has yet to comment on the extent of damage on its oil production but industry sources have said some 5-6 million barrels per day or 5-6% of global supply have been affected. Saudi Arabia, the Organization of the Petroleum Exporting Countries' de-facto leader and largest producer, has been long seen as the custodian of the world's spare oil capacity.

  • TRIPOLI, Sept 7- At least three fighters aligned with Libya's U.N.-backed Government of National Accord were killed in an offensive on Saturday aimed at pushing back eastern forces led by commander Khalifa Haftar, a witness said. The clashes between the GNA forces and Haftar's Libyan National Army on Saturday morning came after nearly a month of calm.

  • *August kerosene deliveries to east reduced-oil company. CAIRO, Sept 6- Libya's state oil firm has restricted kerosene supplies to areas controlled by eastern commander Khalifa Haftar in what diplomats and oil officials said was an attempt to prevent his troops using them in their five-month-old battle to take the capital. The reduction in volumes sent east...

  • LONDON, Sept 5- The chief executive of the world's biggest oil trader, Vitol, told Reuters he expects a weaker oil price in the short term but does not see sustained levels below $50 a barrel. "I expect a softer price in Q4 but it is unlikely to be sustained below $50 a barrel because that means $45 for shale, which would result in capex being cut," CEO Russell Hardy said.

  • BENGHAZI, Libya, Sept 4- Libya's eastern al-Bayda oilfield has halted work due to pipeline maintenance work, field engineers said on Wednesday.

  • BENGHAZI, Libya Sept 2- The commercial port in Libya's second city Benghazi is working round the clock three years after reopening, attempting to raise revenues for its restoration and expansion. Forces led by Khalifa Haftar eventually declared victory in Benghazi in 2017. "But every month is better than the previous one, we are seeking to get to more than 7.8...

  • *Dissent has continued since Bouteflika resigned in April. *Thousands of jobs threatened as business tycoons detained. ALGIERS, Aug 27- On the face of it, Algeria's state-dominated economy has weathered six months of turmoil well, with flightloads of public sector workers heading abroad for holidays even as protesters who ousted the veteran president in April...

  • The U.S. intelligence community doesnt completely ignore the UAE. Another branch, the National Security Agency, conducts electronic surveillance- a lower-risk, lower-reward kind of intelligence-gathering- inside the UAE, two sources with knowledge of NSA operations told Reuters. And the CIA works with UAE intelligence in a liaison relationship that...

  • By Jeff Mason and William James. BIARRITZ, France, Aug 24- Squabbles erupted among G7 nations on Saturday even before their leaders had gathered for an annual summit, exposing sharp differences on global trade tensions, Britain's exit from the EU and how to respond to the fires raging in the Amazon rainforest. Macron set an agenda for the group- France, Britain,...

  • OTTAWA, Aug 14- Canadian Prime Minister Justin Trudeau on Wednesday accepted a watchdog's report that he breached ethics rules by trying to influence a corporate legal case but refused to apologize, saying he had been trying to defend jobs. Independent ethics commissioner Mario Dion said Trudeau and his team attempted last year to undermine a decision by...

  • TUNIS, Aug 8- Libya has restarted the El Sharara oilfield with a limited production, an oil industry source said on Thursday.

  • A pump jack operates at a well site leased by Devon Energy Production Co. near Guthrie, Oklahoma.

    Oil dropped on Thursday, declining for the first time in six days, after the U.S. Federal Reserve dampened hopes for a string of interest rate cuts.

  • *LIBYA'S NATIONAL OIL CORPORATION AND ITALY'S ENI ANNOUNCE THE COMPLETION OF PHASE 2 OF THE BAHR ESSALAM OFFSHORE GAS PROJECT- STATEMENT Further company coverage:.

  • LIBYA'S NATIONAL OIL CORPORATION AND ITALY'S ENI ANNOUNCE THE COMPLETION OF PHASE 2 OF THE BAHR ESSALAM OFFSHORE GAS PROJECT- STATEMENT.

  • July 31- Hess Corp reported a smaller-than-expected quarterly loss on Wednesday, helped by lower exploration costs and a surge in output in its Bakken shale and Gulf of Mexico assets that also prompted the company to raise its 2019 production forecast. Oil output in the United States has soared in recent years, powered by the shale revolution, which has made it...

  • *Libya's Sharara oilfield shut, NOC declares force majeure. *U.S.- China trade talks in Shanghai; expectations low. Brent crude futures rose 36 cents to $65.08 a barrel by 11:03 a.m. EDT, while U.S.