Space Travel News  
OIL AND GAS
Libyan oil production back to normal
by Daniel J. Graeber
Washington (UPI) Sep 8, 2017


Operations at the Sharara oil field in Libya, the country's largest, are back to normal following short-term "irregularities," an Austrian energy company said.

Mustafa Sanalla, the head of Libya's National Oil Corp., blamed "gangsters" for shutting down some of the pipelines tied to the Sharara oil field in late August. That followed a worker protest at Sharara earlier in the month and the NOC said more than 360,000 barrels per day of Libyan crude oil production had been shut in at a cost of $160 million.

A report from commodity pricing group S&P Global Platts, sent to UPI earlier this week, said Libyan crude oil production fell from July levels of 990,000 barrels per day to 830,000 barrels per day in August because of security issues at three of its key oil fields, including Sharara.

Platts said it heard from sources Wednesday that Sharara was back in service and Austrian energy company OMV, which has a role in field operations, confirmed Friday to UPI that production was back online.

"After some short-term irregularities production is back to normal," a spokesman for the company said.

Because of the oil revenue needed to address security concerns, Libya and Nigeria are members of the Organization of Petroleum Exporting Countries exempt from an agreement to curb production in an effort to draw on the surplus for the five-year average of global crude oil inventories.

U.N. special envoy to Libya Ghassan Salame told the Security Council last week that the security situation in parts of the country like Tripoli had improved and oil production was resilient enough for government authorities to work on a new budget with the Central Bank of Libya.

Libyan and Nigerian officials were invited to a late September meeting of a committee monitoring the OPEC-led agreement. According to Platts, the two countries combined are producing 480,000 barrels per day more than in October 2016, the month OPEC uses as a peg for production quotas.

OIL AND GAS
China's CEFC buys into Russian oil giant Rosneft
Moscow (AFP) Sept 8, 2017
Swiss commodities trader Glencore said Friday it is selling a major part of a stake it only recently acquired in Russian oil giant Rosneft to Chinese conglomerate CEFC. Glencore, which had teamed up with the Qatar's sovereign fund at the end of last year to acquire a 19.5-percent stake in Rosneft, said in a statement that it had now agreed to sell a holding of 14.16 percent on to CEFC. ... read more

Related Links
All About Oil and Gas News at OilGasDaily.com


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

OIL AND GAS
OIL AND GAS
For Moratorium on Sending Commands to Mars, Blame the Sun

Tributes to wetter times on Mars

Opportunity will spend three weeks at current location due to Solar Conjunction

Curiosity Mars Rover Begins Study of Ridge Destination

OIL AND GAS
Call For Ideas For Research On The Deep Space Gateway

Analysis of a 'rusty' lunar rock suggests the moon's interior is dry

Roscosmos Approves Luna-25 Space Station Model in Moon Exploration Project

Moon's magnetic field lasted far longer than once believed

OIL AND GAS
New Horizons Video Soars over Pluto's Majestic Mountains and Icy Plains

Juno spots Jupiter's Great Red Spot

New evidence in support of the Planet Nine hypothesis

Scientists probe Neptune's depths to reveal secrets of icy planets

OIL AND GAS
A New Search for Extrasolar Planets from the Arecibo Observatory

Gulf of Mexico tube worm is one of the longest-living animals in the world

Molecular Outflow Launched Beyond Disk Around Young Star

Hubble delivers first hints of possible water content of TRAPPIST-1 planets

OIL AND GAS
ISRO Develops Ship-Based Antenna System to Track Satellite Launches

NASA Concludes Summer of Testing with Fifth Flight Controller Hot Fire

Aerospace test at Sandia goes green with alternative to explosives

Falcon 9 launches from Vandenberg

OIL AND GAS
China, Russia to Have Smooth Space Cooperation, Says Expert

Kuaizhou-11 to send six satellites into space

Russia, China May Sign 5-Year Agreement on Joint Space Exploration

ESA and Chinese astronauts train together

OIL AND GAS
NASA's Asteroid-Bound Spacecraft to Slingshot Past Earth

Close encounters of the stellar kind

House-Sized Near-Earth Objects Rarer Than We Thought

Largest asteroid in a century to whiz by Sept 1









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.