Business News Libya

  • ISTANBUL, Dec 15- Turkey moved closer to military support for Libya's internationally recognised government late on Saturday when a bilateral deal that provides for a quick reaction force if requested by Tripoli was sent to parliament. Late last month, Ankara and Tripoli signed an expanded security and military accord and, separately, a memorandum on...

  • ISTANBUL, Dec 15- Turkey moved closer to military support for Libya's internationally recognised government late on Saturday when a bilateral deal that provides for a quick reaction force if requested by Tripoli was sent to parliament. Late last month, Ankara and Tripoli signed an expanded security and military accord and, separately, a memorandum on...

  • LONDON, Dec 12- Global oil inventories could rise sharply despite OPEC and its allies deepening their output cuts and slowing U.S. production growth, the International Energy Agency said on Thursday. "Despite the additional curbs... and a reduction in our forecast of 2020 non- OPEC supply growth to 2.1 million barrels per day, global oil inventories could build by...

  • LONDON, Dec 12- Global oil inventories could rise sharply despite an agreement by OPEC and its allies to deepen output cuts as well as lower expected production by the United States and other non- OPEC nations, the International Energy Agency said on Thursday. "Despite the additional curbs... and a reduction in our forecast of 2020 non- OPEC supply growth to 2.1...

  • LONDON, Dec 12- Global oil inventories could rise sharply despite an agreement by OPEC and its allies to deepen output cuts as well as lower expected production by the U.S. and other non- OPEC countries, the International Energy Agency said on Thursday. "Despite the additional curbs... and a reduction in our forecast of 2020 non- OPEC supply growth to 2.1 million...

  • By Shadia Nasralla, Olesya Astakhova and Bozorgmehr Sharafedin. VIENNA, Dec 6- Saudi Arabia spearheaded a deal on Friday that will see the OPEC+ group of oil producers commit to some of the sector's deepest output cuts in a decade aiming to avert oversupply and support prices. Saudi with OPEC peers and allies led by Russia backed a plan that could see cuts of as much...

  • By Shadia Nasralla, Olesya Astakhova and Bozorgmehr Sharafedin. Dec 6- Saudi Arabia spearheaded a deal on Friday that will see the OPEC+ group of oil producers commit to some of the sector's deepest output cuts in a decade aiming to avert oversupply and support prices. Saudi with OPEC peers and allies led by Russia backed a plan that could see cuts of as much as 2.1...

  • Dec 6- Saudi Arabia and Russia spearheaded a deal on Friday in which OPEC and its allies committed to some of the deepest oil output cuts this decade aiming to avert oversupply and support prices. OPEC and allied producers, the so-called OPEC+, pump more than 40% of the world's oil. Under the new deal, OPEC will shoulder 372,000 bpd in fresh cuts and non- OPEC producers...

  • Dec 6- Saudi Arabia and Russia won backing for deeper output cuts from OPEC and allied oil producers on Friday as they look to head off global oversupply in 2020 and sustain prices. OPEC and allied producers, the so-called OPEC+, pump more than 40% of the world's oil. OPEC is likely to shoulder approximately 340,000 bpd in fresh cuts and non- OPEC producers an extra...

  • Dec 6- Major oil producers Saudi Arabia and Russia will seek approval for deeper output cuts from OPEC and allies on Friday in an attempt to support prices and avoid an new oil glut. OPEC and allied producers, the so-called OPEC+, pump more than 40% of the world's oil. OPEC is likely to shoulder 340,000 bpd in fresh cuts and non- OPEC producers an extra 160,000 bpd, one...

  • *For timeline of OPEC cuts, click. A panel of energy ministers representing the Organization of the Petroleum Exporting Countries and non- OPEC producers led by Russia recommended the deeper cut on Thursday, Russian Energy Minister Alexander Novak said. Details of the agreement and how the cuts will be distributed among producers still need to be ratified at a...

  • *For timeline of OPEC cuts, click. A panel of energy ministers representing the Organization of the Petroleum Exporting Countries and non- OPEC producers led by Russia recommended the deeper cut on Thursday, Russian Energy Minister Alexander Novak said. Details of the agreement and how the cuts will be distributed among producers still need to be ratified at...

  • CAIRO, Dec 5- Libya's El Feel oilfield has been shut down due to a valve closure, the head of the National Oil Corporation said on Thursday, in the second stoppage at the south-western field in consecutive weeks. "Unfortunately we lost 73,000 barrel per day today," Mustafa Sanalla said in Vienna, before a meeting of the Organization of the Petroleum Exporting...

  • LONDON, Nov 29- OPEC oil output has fallen in November as Angolan production has slipped due to maintenance and Saudi Arabia has kept a lid on supply to support the market before the initial public offering of state-owned Saudi Aramco, a Reuters survey found. The survey suggests Saudi Arabia, after resuming normal supply after attacks on facilities in September,...

  • LONDON, Nov 29- OPEC oil output has fallen in November as Angolan production has slipped due to maintenance and Saudi Arabia has kept a lid on supply to support the market before the initial public offering of state-owned Saudi Aramco, a Reuters survey found. The survey suggests Saudi Arabia, after resuming normal supply after attacks on facilities in September,...

  • LONDON, Nov 29- The following table shows crude oil output by the Organization of the Petroleum Exporting Countries in millions of barrels per day in November and December, according to a Reuters survey published on Friday. OPEC, Russia and other non-members, an alliance known as OPEC+, agreed in December to reduce supply by 1.2 million bpd in 2019. OPEC's share of...

  • *China warns U.S. of consequences over Hong Kong law. President Donald Trump signed into law a bill backing protesters in Hong Kong, fuelling tensions with China. China warned the United States that it would take "firm countermeasures" in response to U.S. legislation backing anti-government protesters in Hong Kong.

  • ISTANBUL/ ANKARA, Nov 28- Libya's internationally recognised government and Turkey have signed an agreement on maritime boundaries in the Mediterranean Sea that could complicate Ankara's disputes over energy exploration with other countries. Libya's neighbour Egypt dismissed the deal as "illegal", and Greece said any such accord would be geographically...

  • *China warns U.S. of consequences over Hong Kong law. LONDON, Nov 28- Oil prices fell for a second day on Thursday after official data showed U.S. crude and gasoline stocks rose and President Donald Trump signed into law a bill backing protesters in Hong Kong, fueling tensions with China. China warned the United States that it would take "firm countermeasures" in...

  • Greece dismissed the announcement as geographically absurd because it ignored the presence of the Greek island of Crete between the coasts of Turkey and Libya. Tensions are already running high between Athens and Ankara because of Turkish drilling in the eastern Mediterranean off the coast of the divided island of Cyprus, and the European Union has...