Arab Today, arab today oil companies returning to libya
Last Updated : GMT 21:26:58
Arab Today, arab today
Arab Today, arab today

Oil companies returning to Libya

Arab Today, arab today

Arab Today, arab today Oil companies returning to Libya

Tripoli - AFP

Oil companies are resuming production in Libya after the death of Moammar Gaddafi. Paolo Scaroni, the chief executive of the Italian oil giant ENI, said his company has already restarted its activities in Libya, The Washington Post reported Friday. Gaddafi helped change the balance of power between companies and exporting countries by raising prices, royalties and taxes and getting other members of the Organization of Petroleum Exporting Countries to do the same. "Gaddafi opened the modern era of oil that set the stage for the oil crises of the 1970s," said Daniel Yergin, an industry consultant. But, he added, "Over the course of his 42-year rule, he squandered and wasted an enormous amount of the country's oil wealth." Libya currently produces 400,000 barrels of oil a day, far less than its pre-civil war levels of about 1.6 million bpd. It is uncertain when production will be back up. "Some mature Libyan oil fields, such as those of the Sirte basin, require water or natural gas injection to maintain pressure in the reservoir, and that has not been done for over six months and the risk for failure on this front remains high," said a report issued Thursday by Barclays Capital.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today oil companies returning to libya Arab Today, arab today oil companies returning to libya

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today oil companies returning to libya Arab Today, arab today oil companies returning to libya

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday