Thursday, February 23, 2017

Turkey pipelines carried 500M barrels of crude oil in 2016 - DAILY SABAH


Pipelines in Turkey carried a total of around 500 million barrels of crude oil for global markets in 2016, 50.9 percent of which was transported via the Baku-Tbilisi-Ceyhan Crude Oil Pipeline (COP).

According to data released by the Turkish Petroleum Pipeline Corporation (BOTAŞ), approximately 500 million barrels of crude oil were transported through Iraq-Turkey COP, Ceyhan-Kırıkkale COP, Batman-Dörtyol COP and Baku-Tbilisi-Ceyhan COP. The figure was around 1.2 percent less compared to the previous year's 505.3 million barrels. Last year approximately 254 million barrels were transferred through the Baku-Tbilisi-Ceyhan COP, some 50.9 percent of the total figure. In addition, 190 million barrels were transported through the Iraq-Turkey COP, 35.3 million were carried through the Ceyhan-Kırıkkale COP, and close to 20 million barrels were delivered through the Batman-Dörtyol COP during the same period.

Partners in Israeli Leviathan gas field okay $3.75 billion investment - REUTERS

Thu Feb 23, 2017 | 2:44am ESTReporting by Tova Cohen

The partners in the Leviathan natural gas field said on Thursday they approved a $3.75 billion final investment decision (FID) in the first phase of the giant reservoir, the largest energy project in Israel's history.

The reservoir, located 100 kilometers (62 miles) west of Haifa, was discovered in December 2010 and is one of the largest offshore natural gas discoveries in the world in the previous decade.

The project's $3.75 billion budget is in addition to $1 billion that has already been invested to date in various exploration, appraisal and planning activities.

According to the development plan that was approved last year by the government, the project will be completed within less than three years and the gas from Leviathan will be available to the Israeli market by the end of 2019.

Italy says no problem with construction of TAP pipeline - YAHOO FINANCE / REUTERS

February 23, 2017Reporting by Nailia Bagirova; Writing by Margarita Antidze; Editing by Joseph Radford

BAKU (Reuters) - Italy sees no problems with the construction of its section of the Trans Adriatic Pipeline (TAP), the country's economic development minister said on Thursday.

More than 200 olive trees in southern Italy stand in the way of a $45 billion pipeline designed to bring gas from ex-Soviet Azerbaijan and help wean the European Union off its dependence on Russian energy.

Local authorities want the pipeline re-routed away from the prized grove, which includes trees thought to be more than 400 years old. That may delay a project that is meant within three years to carry the equivalent of 10 percent of Europe's Russian energy imports.

Wednesday, February 22, 2017

Cyprus President calls Israel a ‘natural partner’ - SAN DIEGO JEWISH WORLD

22 February 2017

NICOSIA, Cyprus (Press Release) — The President of Cyrus, Nicos Anastasiades, on Wednesday delivered a forceful address to an almost 100-member delegation of the Conference of Presidents of Major American Jewish Organizations visiting the country as part of the Conference’s 43rd Annual Leadership Mission to Israel.

Describing the relationship between Cyprus and Israel, the President declared, “In a world characterized by the rise of turmoil, extremism, sectarianism, and terrorism, Cyprus, and Israel—two countries at the heart of the Mediterranean that share the same values and common vision – are beacons of stability, and natural partners of the West in the Middle East.”

Bulgaria-Greece gas link construction to start in early 2018 - energy min - SEE NEWS

SOFIA (Bulgaria), February 22

Bulgaria's energy ministry said on Wednesday that the construction of the gas interconnector Greece-Bulgaria (IGB) will start in the beginning of 2018.

The 182 km long IGB pipeline will connect the northeastern Greek city of Komotini with Stara Zagora, in southern Bulgaria. The link is estimated to cost 220 million euro ($241.8 million).

"The energy minister of Azerbaijan, Natig Aliyev, confirmed before Bulgaria's caretaker energy minister Nikolay Pavlov his country's commitment to deliver 1 billion cu m of gas annually to Bulgaria," the energy ministry said in a statement. One of the conditions for the Azeri gas supplies is the construction of the IGB link.

Tuesday, February 21, 2017

Leviathan partners raise $1.75b from international lenders - JERUSALEM POST

February 21, 2017 17:30 
Sharon Udasin

The partners signed the financing agreement with a consortium of about 20 international and Israeli lenders, led by J.P. Morgan Limited and HSBC Pank Plc.

In a key step toward furnishing Israel and its neighbors with a robust natural-gas supply, the Leviathan reservoir partners have secured $1.75 billion in loans for the basin’s development.

The partners signed the financing agreement with a consortium of about 20 international and Israeli lenders, led by J.P. Morgan Limited and HSBC Bank PLC, according to a report submitted to the Tel Aviv Stock Exchange on Tuesday morning. The funds are expected to support the A1 development stage of the Leviathan project.

TransGlobe Energy Corporation Announces an Operations Update

CALGARY, ALBERTA--(Marketwired - Feb. 21, 2017)

TransGlobe Energy Corporation ("TransGlobe" or the "Company") (TSX:TGL)(NASDAQ:TGA) announces an operational update. All dollar values are expressed in US dollars unless otherwise stated.

North West Gharib, Arab Republic of Egypt (100% working interest, operated)

The Company is pleased to provide an update on the NWG exploration and development activities.

Russia's Rosneft, Libya's NOC sign oil offtake deal - REUTERS

Tue Feb 21, 2017 | 5:23am EST
Aidan Lewis; a
dditional reporting by Dmitry Zhdannikov; editing by Jason Neely

Libya's National Oil Corporation (NOC) has signed a crude oil offtake agreement with Russia's Rosneft as it looks to encourage foreign investment and bolster Libyan output, the NOC said on Tuesday.

The NOC and Rosneft also signed a cooperation framework agreement which the NOC said "lays the groundwork for investment by Rosneft in Libya's oil sector".

Ganoub El-Wadi Petroleum Holding Company is negotiating with five companies to collect geophysical data at a value of $1bn - DAILY NEWS EGYPT

Tuesday, February 21, 2017
Mohamed Farag

Ganoub El-Wadi Petroleum Holding Company (GANOPE) is negotiating with five companies on collecting geophysical data in open areas in the company’s business scope at a value of $1bn.

Osama Farouk, vice chairperson for agreements and exploration at GANOPE, said that the value of the offers received by the company is estimated at $758m. The value has increased to $1bn, and two offers to collect data are expected to be merged.

The company is negotiating with PGS, CGG, KGS, Schlumberger, and Nageco companies. Discussions with them are being held every day about the offered data and technology.

Shell, Petronas begin working on Borollos gas field 9B - ENTERPRISE / AL SHOROUK

Tuesday, 21 February 2017

Shell and Malaysia’s Petronas have begun working on phase 9B of the Borollos gas field, an unnamed EGAS official tells Al Shorouk. The USD 950 mn project involves drilling eight new wells with a daily capacity of 387 mcf. BG, since acquired by Shell, had suspended work on phase 9A+ and 9B of the gas field last March after the government rejected paying USD 7 per mmBtu for phase 9B, and eventually reached an agreement with the government to maintain a price cap of USD 5.88 per mmBtu for gas from the phase.

Work on the gas field later stalled as the state fell behind on payments to Shell and BG, but Shell ultimately ramped-up exploration and drilling activity on the back of promising data. As we reported last week, the government is reportedly gearing up to repay USD 500 mn-1 bn to IOCs including Shell.

Signing of an Agreement for the Financing of the Delek Group Partnerships’ Share in the Costs of Development of the Leviathan Project - DELEK GROUP

Tel Aviv, February 21, 2017. 

Delek Group (TASE: DLEKG, US ADR: DGRLY) ("the Company") announces that further to immediate report dated November 27, 2016 (Ref No. 2016-01-132058), with regard to a signature of a Commitment Letter for the signing of a financing agreement, the Compnay provides below an Immediate Report submitted by each of Delek Drilling - Limited Partnership and Avner Oil Exploration - Limited Partnership (jointly the 'Partnerships'), concerning signature of a Commitment Letter for the signing of a financing agreement for limited recourse project financing of the Partnerships' share in the development of the Leviathan project.

Petroleum Minister meets with Sinopec head, Apache VP - ENTERPRISE / AL MASRY AL YOUM

Tuesday, 21 February 2017

Petroleum Minister Tarek El Molla met with the head of China’s state-owned Sinopec, Wang Yupu, who said his company is mulling a petrochemical project in the Suez Canal Economic Zone, Al Masry Al Youm reports. Also present at the meeting was the vice president of Apache, which previously sold a one-third stake in its Egyptian oil and gas assets to the Chinese company in a USD 3.1 bn transaction. China’s ambassador to Egypt also attended.

Monday, February 20, 2017

Construction contract signed for second string of TurkStream’s offshore section - GAZPROM

Blue Stream gas pipeline facilities
February 20, 2017, 19:20

South Stream Transport B.V. and Allseas Group today signed in Amsterdam a contract to build the second string of the TurkStream gas pipeline’s offshore section. The document was signed as part of the option included in the construction contract for the pipeline’s first string, which had been inked in 2016.

In a similar fashion to the construction of TurkStream’s first string, Allseas plans to use Pioneering Spirit, the world’s largest construction vessel, to lay more than 900 kilometers of pipes across the seabed for the second string of the pipeline.


TurkStream is the project for the construction of a transit-free export gas pipeline stretching across the Black Sea from Russia to Turkey and further to Turkey’s border with neighboring countries. The first string of the gas pipeline is intended for Turkish consumers, while the second string will deliver gas to southern and southeastern Europe. Each string of TurkStream will have the throughput capacity of 15.75 billion cubic meters of gas per year. On October 10, 2016, Russia and Turkey signed the Intergovernmental Agreement on the TurkStream project. South Stream Transport B.V., a wholly-owned subsidiary of Gazprom, is responsible for the construction of TurkStream’s offshore section.

Allseas Group S.A. is the world’s leading company in offshore pipe-laying and subsea construction. The company is focused on comprehensive project implementation, including design, material and equipment procurement, construction, and commissioning.


Security of Leviathan Gas field on NATO’s southern flank: an issue in Middle Eastern geopolitics - FOREIGN POLICY NEWS

February 20, 2017
Mehmet Bildik

NATO has been an institution that has expanded its sphere of influence exclusively toward east which NATO’s southern flank poses a complex threat that requires multi-dimensional strategies for territorial defense, cooperative security and crisis management. For the last 25 years of NATO’s history, the Alliance has constantly committed itself to provide security for Middle East and Mediterranean Energy fields.

Regarding counter terrorism and stabilization in the energy fields, the Warsaw Summit of 2016 has underlined importance of the Middle East. To this end, NATO’s Incirlik Airbase is crucial point for Middle East energy security and providing military and strategic capability for Turkey , United States and NATO’s Mediterranean partner Israel.

Cyprus tops EU list for fossil fuel dependency - CYPRUS MAIL

February 20, 2017
Jean Christou

Cyprus saw the biggest increase in energy demand among the EU 28

Cyprus has the highest dependency, and the biggest share of reliance on fossil fuels for energy within the EU, according to a Eurostat report released on Monday.

The island also saw the biggest increase in energy demand among the EU 28, growing 41 per cent since 1990 from 1.6 Mtoe (million tonnes of oil equivalent) to 2.3 Mtoe in 2015.
The number is low compared with larger EU countries; for instance, Germany’s demand is 314 Mtoe. But a more accurate comparison is Malta where total consumption in 2015 was only 0.8 Mtoe.

Compared with 1990, the largest decreases in overall energy consumption in 2015 were recorded in the three EU Baltic States – Lithuania (-57 per cent), Latvia (-45 per cent) and Estonia (-37 per cent).

In contrast, the highest increases were registered in Cyprus (+41 per cent), Ireland (+38 per cent), Spain (+35 per cent) and Austria (+33 per cent), Eurostat said.

Concerns over future gas fund spending - CYPRUS MAIL

February 20, 2017
Elias Hazou

An annual revenue of up to €600m is expected from the sale of hydrocarbons, 12 years after production begins at the Aphrodite gas field (in block 12).

Questions still hang over the precise manner in which investments will be made using future oil and gas revenues, MPs said on Monday.

Lawmakers were continuing discussion of a finance ministry bill on the establishment and operation of the National Investment Fund, which will manage hydrocarbons proceeds.

They asked the ministry to come back next time with specifics on how revenues would be invested.

Turkey to become natural gas hub, says former Gazprom executive - DAILY SABAH


TurkStream necessary for region's natural gas supply

[Alex] Barnes said that Turkey, receiving natural gas from different sources such as Iran, Russia and Azerbaijan, would become a regional hub by putting the necessary rules into practice.

"Natural gas, which will pass through TurkStream, will be needed by Europe since the U.K. and the Netherlands are slowing their natural gas production. In addition, Europe should also increase its use of gas to reduce coal use. If they want to buy Russian gas via Turkey, they will pay and receive it," said Barnes, as he evaluated the second pipeline in the TurkStream natural gas pipeline project.

House to vote on Natural Gas Act in March - ENTERPRISE / AL BORSA

Monday, 20 February 2017

House to vote on Natural Gas Act in March: The House of Representatives’ Energy Committee expects to complete reviewing the Natural Gas Act — which would largely deregulate the sector — this week and move it to the floor of the House for a vote in March, Al Borsa reports. 

The committee, which has been reviewing the bill since December following preliminary approval from the House general assembly, downplayed the “minor amendments” that they reportedly introduced, MP Hamada Ghallab said, without explaining further. Progress from a regulatory standpoint has been taking place, with the Oil Ministry beginning a draft of the executive regulations and EGAS setting a preliminary toll of USD 0.4 per mmBtu for private companies looking to use the national gas grid last month.

Greek minister: Southern Gas Corridor promotes co-op between gas suppliers and transit countries (interview) - TREND NEWS AGENCY

Baku, 20 February 2017 08:00 (UTC+04:00)
Leman Zeynalova

Trend’s exclusive interview with Giorgos Stathakis, Minister of Εnergy and Environment of Greece, on the occasion of the Southern Gas Corridor Advisory Council’s meeting to be held in Baku Feb.23.

Q: What are your expectations from the upcoming meeting of the Southern Gas Corridor Advisory Council?

A: I believe that the third meeting of the Advisory Council in Baku will deepen further the practical realization of the Southern Gas Corridor. It will send a strong signal that the EU strategic aspiration of diversifying gas supply routes works not only on paper but in real practice. Three years after its initial inception, this priority project promoted the cooperation between gas suppliers and transit countries and led to tangible results. The next step is to consolidate further this cooperation by combining the expansion of the corridor with the gradual creation of what I call a South-Eastern Energy Crossroad.

Sunday, February 19, 2017

Energean: A Greek success - IN CYPRUS / CYPRUS WEEKLY

February 19, 2017
Charles Ellinas

Energean is a private exploration and production group focused on Greece, the Adriatic, the East Med and North Africa. It is the only oil and gas producer in Greece. It has been much in the news recently following its acquisition of the Tanin and Karish gas-fields offshore Israel.

Energean has its roots in the successful development of the Prinos oil-field offshore Kavala in Greece. At a time of crisis in the global oil and gas sector, Energean managed to grow into a leading player in the region with a balanced portfolio of oil and gas production, low-risk development projects and high-impact low-cost exploration assets.

Oil Minister meets with IOC delegations - ENTERPRISE / AL SHOROUK

Sunday, 19 February 2017

Oil Minister Tarek El Molla met with delegations from several international oil companies, including France’s Total and the French Institute of Petroleum (IFP Energies nouvelles, IFPEN), to discuss increasing the scope of their Egyptian investments, Al Shorouk says.

Total are looking to increase investments at their North El Hammad concession, he said, while the French Institute of Petroleum are interested in entering the Egyptian market. Additionally, Halliburton confirmed they are committed to their operations in technology, training, and increasing machinery efficiency.

Saturday, February 18, 2017

ECHEM considering implementing four projects worth $5bn - DAILY NEWS EGYPT

Mohamed Farag

Propylene production studies to be completed next month in cooperation with Technip, Salah

The Egyptian Petrochemicals Holding Company (ECHEM) is considering the implementation of four projects to produce derivatives of propylene, ammonium, formaldehyde, and medium density fiberboard (MDF) with investments amounting to $5bn.

Business development engineer at the company Nouran Salah said that ECHEM will complete the technical and financial studies for the propylene production projects next month, in cooperation with the consulting firm Technip.

Friday, February 17, 2017

Wells in Turkey are Outperforming the STACK: TransAtlantic Petroleum CEO - OIL & GAS 360

February 17, 2017

It’s like being in the Midland, but with better financial terms – TransAtlantic discusses its operations in Turkey

The last nine years have been marked by explosive growth in the North American oil and gas sector, but many companies continue to exploit hydrocarbon resources successfully in other parts of the world as well. TransAtlantic Petroleum (ticker: TAT) is one such company, with operations in Turkey, Albania and Bulgaria, and some of the well results reported by the company have outperformed those in some of the most prolific plays in the United States.

“These are high net-revenue, large contiguous lease blocks at the center of a petroleum basin, which would be similar to being in the center of the Midland Basin,” TransAtlantic Chairman and CEO Malone Mitchell III told Oil & Gas 360® speaking about the company’s assets in Turkey.

Gazprom wants to keep EU market share, block Trans-Balkan pipe route - NEW EUROPE

FEBRUARY 17, 2017, 13:34 
Kostis Geropoulos

Russia is likely to maintain some gas transit through Ukraine even if Turkish Stream and Nord Stream 2 pipelines are built, energy expert Peter Poptchev told New Europe.

“Russia would not mind transiting ‘some’ gas through Ukraine – after it would have realised – if at all – Turkish Stream and Nord Stream 2,” said Poptchev, who served as ambassador-at-large for energy security at the Bulgarian Ministry of Foreign Affairs when the Balkan country negotiated the now-cancelled South Stream pipeline with Gazprom.

Thursday, February 16, 2017

Mideast Monitor: What's next for Sisi's Egypt? - JERUSALEM POST

Egyptian president Abdel Fattah al-Sisi (REUTERS
February 16, 2017, 15:19
Bruce Maddy-Wetzman

While Sisi’s rule does not appear to be in imminent danger, it is unwise to ignore the real and multiple difficulties confronting Egyptian society.

EGYPT’S PRESIDENT Abdel Fattah al-Sisi has now been in power for three and a half years. In consolidating his rule, Sisi has based his claim to legitimacy on a formula familiar to authoritarian regimes: wrapping oneself in the flag of patriotism, along with promises for economic betterment and stability for the population in return for its acquiescence to a de-politicization of society. Also in use is harsh repression of political opposition, severe checks on independent civil society organizations, including the media, and restrictions on judicial independence.

Israel's gas royalties up 8.5% in 2016 - GLOBES

16 Feb, 2017 7:06
Nati Yefet

Royalties from the Tamar reservoir rose 7%, despite the fall in the price of natural gas.

Natural gas royalties from the Tamar reservoir totaled NIS 819 million in 2016 (Note: €1=3,93 NIS, $1=3,70 NIS), accounting for most of the royalties from natural resources in that year. 2016 natural resources royalties totaled NIS 854 million, up 8.5%, compared with NIS 788 million in 2015. Additional natural gas royalties came from the Yam Tethys (NIS 1.8 million), Meged (NIS 4.7 million), Heletz (NIS 313,000), and Tamrur Cliff (NIS 11,000) gas fields.

According to the Ministry of National Infrastructure, Energy, and Water Resources, royalties from Tamar grew 7%, despite the fall in the price of natural gas. Fees from various projects totaled NIS 5 million.

Egypt oil production needs 21st century revamp: executive - PLATTS

Cairo (Platts) 16 Feb 2017 842 am EST/1342 GMT
Nick Coleman, Edited by Maurice Geller

Egypt needs to rethink the joint venture model that has governed its onshore oil industry for the past half century as part of wider reforms to the economy, according to James House, senior region vice president for the country's largest international oil producer, Apache.

At a conference in Cairo this week, House told journalists Apache would increase its capital spending in Egypt this year from last year's level, which was around $300 million, as it takes on new concessions and steps up seismic acquisition.

Egypt will reach natural gas self-sufficiency by 2018 -EGAS - ENTERPRISE / REUTERS

Thursday, 16 February 2017

Egypt aims to reach natural gas self-sufficiency in 2018, EGAS Chairman Mohamed El Masry told Reuters’ Arabic Service. The private sector will be able to import natural gas for industries through new regulations by 2018 or possibly before then, he added. A large portion of the gap between supply and demand will be filled when the Zohr field begins production at the end of the year, he said. 

Wednesday, February 15, 2017

Leviathan Gears Up For Development Phase As Sanctioning Nears - HART ENERGY

Wednesday, February 15, 2017 - 4:07pm
Velda Addison 

Work to develop the gigantic Leviathan Field in the Mediterranean Sea offshore Israel is progressing with project sanctioning expected sometime this quarter.

Noble Energy Inc. (NYSE: NBL) delivered an update on the field, which holds about 622 Bcm (22 Tcf) of natural gas, during a conference call Feb. 14 after releasing its fourth-quarter 2016 results and outlook for this year.

“We’re moving into the development phase now,” said J. Keith Elliott, senior vice president for Noble’s Eastern Mediterranean assets. “We have started procurement of the raw materials for both the subsea and the platform construction project.”

Eni, BP pouring more investment into Egypt than anywhere else - WORLD OIL

Salma El Wardany, Sam Wilkin, Tamim Elyan

CAIRO (Bloomberg) -- Eni SpA will start producing from the giant Zohr natural gas field off Egypt’s Mediterranean coast by the end of 2017 and plans to invest $10 billion in the North African country over the next five years, CEO Claudio Descalzi said. Production plans for Zohr are on schedule, and Egypt will be Eni’s top country for investment in the next two years, Descalzi said at a conference in Cairo. 

BP Plc, which bought a 10% stake in Zohr from Eni last year, invested more in Egypt in 2016 than in any other country and will do so again this year, the company’s CEO Bob Dudley said at the same event.

Kerogen commits $50 mln to Energean Israel - THE PE HUB NETOWORK / ENERGEAN OIL & GAS

February 15, 2017
By Iris Dorbian

Kerogen Capital has agreed to invest $50 million in Energean Israel, an Energean subsidiary and operator of the Karish and Tanin gas fields in offshore Israel. After the closing of the deal, which will need to be approved by the Israeli government, Kerogen will own a 50 percent stake in Energean Israel.


ATHENS, Greece–(BUSINESS WIRE)–Energean Oil & Gas (“Energean”) is pleased to announce that Kerogen Capital (“Kerogen”) has committed to invest an initial US$50 million in Energean Israel, a subsidiary of Energean, ahead of the planned $1.3 billion development of the Karish and Tanin gas fields, offshore Israel.

Noble, Barclays Work on $1 Billion Tamar Stake Saleby - BLOOMBERG

15 February 2017, 2:49 p.m. EET
Yaacov Benmeleh
  • Noble seeking to spin off stake into SPC, pay dividend
  • Sale talks value Tamar gas field up to 20% more than last year
Noble Energy Inc. is working with Barclays Plc on the sale of a 7.5 percent stake in the offshore Tamar natural gas field, according to people with knowledge of the matter.

The company and its advisers -- which include another unidentified bank -- are approaching institutional investors for the sale, which may be worth between $1 billion and $1.1 billion, the people said, asking not to be identified as the talks aren’t public.

Noble is seeking to convert the stake into a special-purpose company and raise debt totaling about 50 percent to 60 percent of its value, one of the people said. This would be paid to shareholders as a dividend, the person said.

Revealed: Israel Pledged to Place Jordan’s Natural Gas Needs Before Its Own - HAARETZ

Feb 15, 2017 5:27 AMAvi Bar-Eli 

Details of a letter to Amman, signed by Netanyahu and Energy Minister Steinitz, was obtained by Haaretz after the government refused to confirm it even exists.

Israel has committed to Jordan that it will give Jordanian natural gas needs preference over Israel’s in times of shortages, according to a letter signed by Prime Minister Benjamin Netanyahu and Energy Minister Yuval Steinitz.

Details of the letter, obtained by Haaretz columnist Nehemia Shtrasler, were published Tuesday in Haaretz’s Hebrew edition after government ministries refused to confirm that the letter existed at all.

The letter commits to Amman that the quantity of gas exported from the Leviathan offshore reserve will not drop under the contractually agreed volume for the duration of the 15-year contract.

EU gets wake-up call as Gazprom eyes rival TAP pipeline - EURACTIV / REUTERS

15.2.2017, 7:58
Georgi Gotev | with Reuters

Russian gas from Turkish Stream could flow to the EU via the TAP pipeline. Gazprom plans to use Pioneering Spirit, the world’s largest construction vessel, to build Turkish Stream gas pipeline’s offshore section.

Gazprom’s bid to tap into a pipeline meant to wean Europe off Russian gas threatens to undermine a pillar of European energy policy and slow plans to develop rival deposits in the eastern Mediterranean.

As the European Union struggles against the “iron embrace” of Russian pipelines, it has made opening a new Southern Gas Corridor to carry gas from Azerbaijan by 2020 a priority.

Tuesday, February 14, 2017

Libya's political chaos deepens - PETROLEUM ECONOMIST

Tunis, 14 February 2017Chris Stephen

An Islamist militia attack on the Sirte Basin was repulsed. But more conflict looks likely

A new offensive by Islamist militias to capture Libya's eastern oilfields has set back the state oil company's hopes that foreign firms will return to the country's upstream - and creates new doubts about its ability to sustain an oil-output recovery.

The Benghazi Defence Brigades, originally from Benghazi and now occupying the central towns of Houn and Waddan, launched an offensive on 9 February against the Libyan National Army (LNA), which has since September controlled the Sirte Basin, the prolific heartland of Libya's oil sector.