Tag Archives: Africa

Oil prices are responding to the tightening of supply due to the Libyan production halt.

Boosting capacity at the field requires much-needed investment that NOC has been struggling to secure.

The focus has been on gas that has begun flowing from Egypt’s Zohr gas field. the largest in the Mediterranean.

BP and Statoil are already present in Algeria. working with Sonatrach at the Tiguentourine gas plant in the region of In Amenas.

Production from at least one Libyan oil field has also been disrupted by a dispute over security guards’ pay.

Oil prices surged on Friday after the shutdown of a key oilfield in Libya.

The field is operated by a joint venture between state-owned NOC and Italy’s Eni.

Trade sources have reported that Egypt has been looking to import five cargoes of LNG at competitive pricing.

Eni says to produce 2.9 bcf per day from Zohr field by second half 2019.

The country owed $2.4billion (£1.7billion) at the end of June 2017 .