12082016Thu
Last update: Thu, 08 Dec 2016 12pm

Middle East & Africa

Markets - Energy - Middle East & Africa

Libya's NOC says tanker will transfer oil from threatened port TRIPOLI: Libya's National Oil Corporation (NOC) said on Thursday that rival forces had agreed to let a tanker dock at Zueitina port to load oil and take it to a safe place. The NOC expressed concern earlier this month after reports of possible clashes between the Petroleum Facilities Guard (PFG) and forces loyal to eastern commander Khalifa Haftar. The PFG has signed a deal to end its blockade of Zueitina and two other ports with the UN-backed Government of National Accord (GNA) in Tripoli, but eastern forces loyal to a separate government have threatened to block a resumption of exports. Those forces recently mobilised near Zueitina and PFG positions, though there have been no reports of violence. "NOC can confirm, that after considerable efforts, we have received the consent from all relevant parties to permit the Greek flag vessel New Hellas to enter Zueitina terminal in order that it will ...

Markets - Energy - Middle East & Africa

Three-week South African fuel strike ends as union signs new pay offer CAPE TOWN: South Africa's petroleum industry and striking workers agreed to a new two-year wage deal on Wednesday, ending a three-week strike that caused limited supply disruptions, an official representing employers said. Around 15,000 striking workers affiliated to Chemical, Energy, Paper, Printing, Wood and Allied Workers union (CEPPWAWU) agreed a 7 percent wage increase this year and an April CPI plus 1.5 percent hike in the second year, said Zimisele Majamane, the deputy chairman of ...

Markets - Energy - Middle East & Africa

South African fuel strike ends as union signs new pay offer CAPE TOWN: South Africa's petroleum sector employers and striking workers signed a new two-year wage deal on Wednesday, ending a three-week strike that caused limited supply disruptions, an official representing employers said. Around 15,000 striking workers affiliated to Chemical, Energy, Paper, Printing, Wood and Allied Workers union (CEPPWAWU) went on strike at refineries and fuel depots operated by BP, Shell, Chevron and Sasol , among others.The two parties agreed a 7 percent wage increase this ...

Markets - Energy - Middle East & Africa

North Sea Crude-Output to reach two-year low in Sept LONDON: North Sea output will hit a two-year low in September due to field maintenance, according to loading programmes, tightening the market. There are signs that a build-up of Forties held on VLCCs off the UK coast is easing, potentially helping to support differentials. Two such vessels, Gener8 Ulysses and Orthis, have left for Rotterdam in recent days, according to shipping data. At least one other VLCC of Forties, Maran Thetis, is still close to ...

Markets - Energy - Middle East & Africa

Iran's crude oil exports above 2.1mn bpd in July: SHANA DUBAI: Iran's crude oil exports in July were more than 2.1 million barrels per day, the oil ministry's news agency SHANA cited a senior Iranian oil official as saying on Wednesday.Director of the International Affairs Department at National Iranian Oil Company (NIOC) Mohsen Ghamsari told SHANA the total amount of crude and gas condensate exports by Iran reached 2.740 million bpd in July. He said 600,000 bpd out of that figure were condensate exports."Exports of ...

Markets - Energy - Middle East & Africa

Ghana's GNPC says prepared to sell oil from new field to local refinery ACCRA: State-owned Ghana National Petroleum Corporation (GNPC) is prepared to sell crude from the new TEN field to the country's sole oil refinery in a bid to boost national supply, its chief executive Alex Mould told Reuters on Tuesday. Ghana holds a 20 percent stake in the Tweneboa, Enyenra and Ntomme offshore field, which is due to produce its first oil on Thursday and aims for average production of 80,000 barrels per day. Copyright Reuters, ...

Markets - Energy - Middle East & Africa

Egypt's gas production will exceed 7.5bn cubic feet per day by 2020/21 CAIRO: Egypt will increase its production of natural gas to more than 7.5 billion cubic feet per day by 2020-21, Oil Minister Tarek El Molla said on Saturday. Once an energy exporter, Egypt has turned into a net importer because of declining oil and gas production and increasing consumption. It is trying to speed up production at recent discoveries to fill its energy gap as soon as possible.Copyright Reuters, 2016 ...