Tag Archives | Production

Libya says "logical" for Gulf Arabs to cut oil supply

Libya signalled on Tuesday it may not support Gulf Arab OPEC producers when the exporters' group meets in December, saying those countries should reduce output to make space for Libya's returning oil output. The Organization of the Petroleum Exporting Countries (OPEC) has been operating without formal output limits since December 2008 and this year Gulf producers […]

Libya's Waha Set To Restart In December - Official

Waha Oil Co., the last major Libyan oil company yet to resume production, is set to pump crude again next month after a management change ended a crippling strike, an official at the company said Tuesday. Khaled Othman, a Waha Oil Co. construction supervisor and one of the strike's leaders, said, "We will go back […]

OPEC Oil Output Rose in October on Libya, Saudi Arabia, IEA Says

OPEC crude production rose in October as Libyan output recovered quicker than expected and Saudi Arabia pumped more, the International Energy Agency said. Daily supply from the Organization of Petroleum Exporting Countries’ 12 members increased to 30.01 million barrels a day in October from 29.91 million in September, the Paris-based agency said today in its […]

Eni Profit Rises 7% as Higher Oil Prices Counter Lost Output

 Eni SpA, Italy’s largest oil producer, reported better-than-estimated third-quarter earnings as higher oil prices countered lower production from Libya. Adjusted net income rose 7 percent to 1.8 billion euros ($2.5 billion) from 1.7 billion euros a year earlier, the company said in a statement. That beat the 1.5 billion-euro average estimate of 15 analysts surveyed […]