German energy company Wintershall announced plans to build a new oil pipeline that would connect two oil fields in Libya. Wintershall aims to build a 34-mile pipeline that would connect the Nafoora oil field with the Amal oil field. The pipeline has a design capacity of 100,000 barrels per day and has an estimated cost of around $38 million, reports regional business news agency MEED. The German energy company last month said oil production in Libya has reached 70 percent of the level obtained before the country's civil war began in February 2011. Wintershall, before the war, was producing around 100,000 barrels of oil per day. The oil fields in question are operated by a subsidiary of the state-owned National Oil Corp. and a joint venture between the NOC and Petro-Canada. Construction of the pipeline is slated for August. It could go into service as early as March 2013. Libya is one of the largest oil-producing countries in Africa. Last year's war shut down oil production, prompting calls for the release of strategic petroleum reserves from members of the International Energy Agency.
GMT 18:55 2018 Friday ,14 December
Libya’s National Oil against paying ‘ransom’ to reopen El Sharara fieldGMT 22:21 2018 Thursday ,13 December
Turkey starts building land part of Turkish Stream pipelineGMT 13:35 2018 Sunday ,09 December
OPEC+ deal to ensure stability of oil price, that is positive for RussiaGMT 14:30 2018 Friday ,07 December
Major oil producers haggle over production cutGMT 13:29 2018 Thursday ,06 December
Major oil exporters mull supply cut amid internal rifts, US demandsGMT 09:30 2018 Monday ,03 December
Qatar says it is withdrawing from OPEC on January 1GMT 21:01 2018 Sunday ,25 November
Oil prices plummet amid U.S. drilling rigs downGMT 17:32 2018 Friday ,16 November
OPEC Basket Price Stood, at over $65.2, on ThursdayMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor