Category:

Egypt drawing in big energy players

Italian energy company Eni said it signed an agreement to work in the Western Desert of Egypt. UPI/Shutterstock/ekina MILAN, Italy, Jan. 9 (UPI) — With payments surfacing for its counterparts, Italian energy company Eni said Friday it signed an deal to operate in a license area in Egypt’s Western Desert. Eni said it was strengthening its position in Egypt by signing a concession agreement for work in the Western Desert. The deal follows an international auction held in 2013 by the Egyptian General Petroleum Corp. "This new acquisition adds to the list of exploration successes achieved in the area over the past two years and further strengthen Eni’s position in Egypt, an area of historic and strategic importance for the company," it said in a statement. Eni is one of the main oil producers in the country. Operating there since 1954, the company said it had an equity production […]

Posted On : Published By : Tom Whipple
Category:

Moroccan shale continues to impress

Early Moroccan shale gas results better than expected for pioneer Gulfsands Petroleum. Photo by Steve Oehlenschlager/Shutterstock LONDON, Jan. 6 (UPI) — Gulfsands Petroleum, a company exploring the emerging shale potential in Morocco, said Tuesday exploration results there were better than expected. The company said its drilling operations in a permit area in northern Morocco were completed two days ahead of schedule and yielded "significantly elevated gas readings." Mahdi Sajjad, the company’s chief executive officer, said in a statement the results so far are the best the company has achieved to date in Morocco. "We look forward to completing the well and observing the production performance during well clean-up operations," he said. Morocco is one of the West African countries that have drawn interest from international energy companies eager to tap into unexploited reserves. During the first quarter of 2014, the company, which has headquarters in London, said it planned […]

Posted On : Published By : Tom Whipple
Category:

Libyan Air Force Plane Bombs Tanker, Killing Two

ENLARGE A member of the Libyan army stands on a tank on Dec. 23, 2014. The Libyan army has been battling Islamists who have taken control of much of Tripoli and the country’s second city of Benghazi. Agence France-Presse/Getty Images Two crewmen on board a Greek-managed tanker were killed after a Libyan air force plane bombed the vessel while it was anchoring at port, Greek and Libyan officials said Monday, highlighting the turmoil that continues to ravage the north African country almost four years after the collapse of central government authority. The vessel, the Liberian-flagged Araevo, was in the Libyan port of Derna in the east of the country when it was hit by a bomb from the aircraft midday Sunday, in what appeared to be a case of mistaken identity. The airstrike killed a 29-year-old Greek cadet engineer and a 23-year-old Romanian seaman. Two other seamen, both Philippine […]

Posted On : Published By : Tom Whipple
Category:

Oil Tanker Bombed at Libyan Port as Risks to Shipments Rise

A Greek-operated oil tanker was bombed near a port in eastern Libya , killing two sailors and underscoring a fresh threat to shipments from the country with Africa ’s biggest crude reserves. The Araevo, bearing a Liberian flag, was struck by a rocket during an airstrike yesterday in front of Derna port, killing two crew members and seriously injuring two others, according to an e-mailed statement from Libya’s state-run National Oil Corp. The attack didn’t result in a leak and the vessel is now in Tobruk port also in the east, Ilias Syrros, the safety manager for Aegean Shipping Enterprises Co., the Piraeus, Greece-based firm operating the tanker, said by phone. Libya is split between the United Nations-recognized government of Abdullah al-Thinni in the east and Islamists who control Tripoli in the west. Al-Thinni’s forces bombed the ship after it failed to provide details on its itinerary, said Ahmad […]

Posted On : Published By : Tom Whipple
Category:

2 dead as unknown aircraft bombs Greek tanker in Libyan port

ATHENS, Greece (AP) — Greek authorities say an unidentified warplane has bombed a Greek-owned tanker ship in the eastern Libyan port of Darna, killing two crew members and injuring two more. Citing a briefing by the ship’s managers, the Merchant Marine Ministry says the Liberian-flagged Araevo was attacked Sunday while it was anchored in the harbor. Darna is a base for Islamic extremists, who have pledged allegiance to the Islamic State group. Widespread militia violence has plunged Libya into chaos less than four years after a NATO-backed uprising toppled and killed longtime dictator Moammar Gadhafi. The Araevo’s crew of 26 consisted of 21 Filipinos, three Greeks and two Romanians. The ministry said Monday the vessel had 12,600 metric tons of fuel on board. Damage is still being assessed.

Posted On : Published By : Tom Whipple
Category:

Libya: Islamic State Militants Behead 14 Soldiers At Checkpoint

Islamic State and Libya Dawn militants beheaded 17 people, 14 of them soldiers, at a checkpoint in southern Libya on Jan. 2, army sources said, Libyan website Al-Wasat reported Jan. 3. The website also said the attack was carried out on members of Battalion 168, which guard the checkpoint on the Sawknah crossroads in the Bu-Shuwayrif municipality. The attack comes as the Islamic State seeks to establish new footholds throughout the region.

Posted On : Published By : Tom Whipple
Category:

Parts of Libya in the dark

Libyan fighting spills over to ensnare electric grid, leaving parts of the country in the dark.. UPI/Amru Taha TRIPOLI, Libya, Jan. 2 (UPI) — Power shortages that came as a result of fighting in and around the Libyan port city of Ras Lanuf are expected to continue, an electric company said. Two power plants that combine to produce about 500 megawatts of power are down because of fighting in the region, the General Electric Company of Libya said. The restive city of Benghazi this week suffered a full-scale power outage because of poor weather conditions and the electric company said much of western Libya can expect power outages to endure. Power shortages have been chronic since civil war ended in late 2011. Lingering fighting, which has escalated in recent weeks, has pushed the country to the brink of full-scale war, the U.N. Support Mission in Libya warned. In the […]

Posted On : Published By : Tom Whipple
Category:

Libyan oil tanker struck off Singapore’s coast

Singapore released oil spill response resources after two tankers collided near busy port. UPI/A.J. Sisco.. SINGAPORE, Jan. 2 (UPI) — Maritime authorities in Singapore said Friday they deployed air surveillance teams to investigate oil spilled after two tankers collided off its coast. The Maritime and Port Authority of Singapore said the Libyan-registered Alyarmouk collided with the Singapore carrier Sinar Kapuas in its territorial waters. "Alyarmouk reported that one of her cargo tanks sustained damage, resulting in spillage of crude oil," the port authority said in a statement. "Upon notification, MPA deployed a helicopter to assess the situation." Latest maritime traffic data show the Libyan crude oil tanker was slated to arrive in China to unload its cargo by early next week. No information was immediately available regarding the amount of oil loaded on the tanker. Maritime authorities said resources designated to respond to an oil spill have been deployed […]

Posted On : Published By : Tom Whipple
Category:

BG Group keeps Egyptian energy sector on radar

Liquefied natural gas giant BG Group says that, while operations are dwindling, it remains committed to exploring its options in Egypt. (Photo: BG Group) LONDON, Jan. 2 (UPI) — While operations there are fading, British energy company BG Group said Friday it would continue investigating options in Egypt after receiving a debt payment. BG Group said it received $350 million in debt payments from the Egyptian government, reducing its balances to around $920 million. "While the group has been impacted by the reduction of LNG exports from Egypt, the company continues to investigate options for increasing the supply of gas and is working with the government on resolving the outstanding receivable balance," the company said in a statement. A similar payment was disclosed by the company in October. In January 2014, the company said the Egyptian government wasn’t honoring agreements regarding its share of natural gas from Egyptian fields, […]

Posted On : Published By : Tom Whipple