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Egyptian Militant Group Pledges Loyalty to ISIS

CAIRO — An Egyptian militant group that has waged a deadly campaign mostly against local security forces released an audio statement early Monday pledging its allegiance to the Islamic State, the extremist group fighting in Iraq and Syria. The statement, released on a Twitter account associated with the Egyptian group, Ansar Beit al-Maqdis, demonstrated the growing clout of the Islamic State, also known as ISIS or ISIL. The group has recruited jihadists from dozens of countries, including thousands of fighters from North Africa and the Persian Gulf. In the recording, which was said to come from Ansar Beit al-Maqdis’s information department, a man said the group promised to “obey” the leader of the Islamic State, Abu Bakr al-Baghdadi. (News reports from Iraq said Mr. Baghdadi was wounded in airstrikes over the weekend, but there was no definitive word on his status.) The confrontation between insurgents and the Egyptian government […]

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Libya Plans for Biggest Oil Field to Resume Output Soon

Libya will resume pumping crude “soon” at Sharara, its biggest oil field, after an attack that halted output, reducing the North African nation’s production by almost a third, an official said. Sharara was shut as a precaution after gunmen stormed the on-site production compound, Mansur Abdallah, director of oil movement at the Zawiya refinery and oil port, said in a telephone interview. “The armed group left after stealing the cars, and production should resume soon,” he said. The oil field is 720 kilometers (450 miles) south of Zawiya, and the two sites are connected by a pipeline. While it has a similar capacity to the Waha field in central Libya, Sharara is the nation’s largest producer, with an output of 290,000 barrels a day before the latest shutdown, Abdallah said. Libya, which is trying to restore output after more than a year of political unrest and violence, produced 850,000 […]

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Libya, low oil prices, pull reins for OMV

Libyan conflict and lower oil prices forces Austrian energy company OMV to reconsider pace of investments. UPITarek Alhuony. VIENNA, Nov. 6 (UPI) — A slowdown in Libyan output, coupled with declining oil prices, means it’s time to review the pace of investments, the head Austria’s OMV said Thursday. The oil and gas company said it would focus more on exploration and production moving forward, while streamlining some of its refinery operations. The decline in oil prices, in addition to less-than-ideal production growth from Libya, gave Chief Executive Officer Gerhard Roiss something to consider . "In order to reflect a more challenging operating environment, especially the softness in the oil price together with the unpredictability of our Libyan production, which is adversely impacting the Group’s cash flow, we have decided to review the pace of our investment program for the next two to three years," he said in a statement. […]

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Protest Is Muted as Egypt Levels Border Area in Sinai

CAIRO — Egyptian officials faced little popular backlash on Thursday after the military demolished dwellings and displaced thousands of people in a town bordering the Gaza Strip , suggesting the government still enjoyed wide latitude from the public to pursue a muscular anti-insurgency campaign, though it has delivered mixed results at best. The demolitions, which began on Wednesday, are part of a government plan to create a buffer zone on the border that the authorities assert will curb the flow of weapons and militants. The plan had been discussed for more than a year, and was finally implemented after a militant attack last week that killed at least 31 Egyptian soldiers. Residents of Rafah, the border town, said they were surprised by the speed with which they were ordered to abandon their homes. On Thursday, though, even as the evacuations continued, many of the displaced residents appeared to be […]

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Algeria Bucks OPEC-Discount Trend With Venezuela Oil Sale

Algeria raised its oil price for November to the highest in five months after adding fellow OPEC member Venezuela , holder of the world’s largest crude reserves, to the list of its mostly European customers. The North African country will sell its Saharan Blend crude at a premium of 70 cents a barrel to Dated Brent, the North Sea benchmark, according to a price list obtained by Bloomberg. That’s the highest level since June and an increase from 20 cents in October. The first supertanker of Algerian crude arrived in Venezuela on Oct. 25, according to ship tracking data. “It’s primarily due to its sales to Venezuela” that Algeria has been able to raise premiums, Amrita Sen, chief oil market analyst at Energy Aspects in London , said by e-mail today. “Otherwise demand for light crudes has been super weak.” The Organization of Petroleum Exporting Countries’ biggest producers, including […]

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Libyan strife highlights the perils of even-handedness

By their unseemly alliances with jihadis, Libya’s Islamists are courting disaster Retired general Khalifa Haftar ©EPA F or months the international community has been acting as if both sides in Libya’s multi-faceted civil war  are equally to blame for the unfolding tragedy, in effect justifying standing back and doing nothing, much like in Syria. Such even-handedness is symptomatic of the failings of international policy with regard to Libya, reflecting an exasperation with the complexity of the conflict that could potentially lead to further disastrous results. More On this topic Allure of Isis attracts Libya’s jihadis Fighting erupts between Libyan factions Libyan Islamists push hardline agenda Shared heritage helps drive Turkish business despite Libyan risk Global Insight Synod setback shows Pope’s limitations US experts fear Russia sanctions blowback India’s Congress party stares into the abyss Turkey struggles with Isis reverberations Governments of the UK, US, France, Germany and Italy issued […]

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Islamists kill 31 Egyptian soldiers in Sinai

Islamist militants killed 31 Egyptian soldiers on Friday in two separate attacks in the northern Sinai Peninsula, the deadliest day in months in the volatile desert region. President Abdel Fattah al-Sisi summoned ministers and officials to an emergency meeting of his National Defence Council after the attacks. Egypt ’s armed forces were reportedly preparing for reprisals in response to the attacks. More On this topic Investors eye Egypt energy opportunities US seeks Egypt’s help to counter Isis Blast in central Cairo kills at least two Egypt swelters in nationwide power cut IN Middle Eastern Politics & Society Tunisia police kill six ahead of poll Tunisia poll takes place amid disillusionment Houthi expansion threatens Yemeni strait Turkey allows Kurds to relieve Kobani The first, a massive car bomb explosion at a checkpoint protected by armoured vehicles northwest of the town of Arish, killed 28 soldiers. The second, a drive-by shooting […]

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Libya’s Rival Regimes Keep Oil Flowing From Split Nation

Libya’s warring factions have pledged to keep the North African country’s crude flowing, putting pressure on other OPEC nations to curb output when the group supplying 40 percent of the world’s oil meets next month. Libya’s production has risen even as violence and political disputes have left the country under the rule of two competing administrations: the internationally recognized government of Abdulla al-Theni and the Islamist-led cabinet of Omar al-Hassi. Both authorities are seeking to keep oil output stable as various militias battle for influence. “It is almost beyond me that the Libyans managed to maintain production, considering that there is no government, and with all these militias,” Ole Hansen, head of commodity strategy at Saxo Bank A/S, said in an interview Oct. 20 in Dubai. “It is almost a miracle that they managed to get back production to where they have managed to get it back to.” Libya, […]

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Egypt slated to get Israeli natural gas

Partners in control of one of Israel’s largest offshore gas fields announce export plans for Egypt. (UPI/Shutterstock/James Jones Jr.) The partnership in control of one of the largest natural gas basins off the coast of Israel announced their intention to sign an export deal with Egypt. The consortium in charge of the Tamar natural gas field, led by Texas company Noble Energy and Israel’s Delek Group, said Sunday they’re negotiating the sale of at least 175 billion cubic feet of natural gas per year over the next three years with Egyptian buyer Dolphinus Holdings Ltd. The partners managing Tamar estimate the field holds as much as 10 trillion cubic feet of natural gas. Gas from Tamar would run through a pipeline system managed by Israel Gas lines to Ashkelon and then through a system managed by East Mediterranean Gas Ltd. for marketing to customers in Egypt. Delek said gas […]

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OMV’s production lifted by Libya

Austrian energy company OMV says production from Libya on the rebound. UPI/Mohamaad Hosam "Production levels in the third quarter of 2014 increased by 5 percent versus the second quarter as production in Libya partially resumed," the company said in its report. In its report for the second quarter, OMV said much of its Libyan assets were shut in by violence and the security situation there remained difficult. OMV’s statement follows a condemnation of the latest violence from the governments of France, Italy, Germany, the United Kingdom and the United States. "Libya’s hard fought freedom is at risk if Libyan and international terrorist groups are allowed to use Libya as a safe haven," their Saturday statement read. Forces loyal to former Gen. Khalifa Haftar last week tried to reclaim the restive city of Benghazi from Islamist militias. At least 12 people died as a result of the violence . In […]

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